Hennessy Advisors Inc. Increases Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Hennessy Advisors Inc. lifted its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,000 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in ConnectOne Bancorp were worth $2,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new stake in ConnectOne Bancorp during the third quarter valued at $53,000. Evergreen Capital Management LLC purchased a new stake in shares of ConnectOne Bancorp during the 2nd quarter valued at about $196,000. Palouse Capital Management Inc. lifted its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,607 shares during the period. Zacks Investment Management purchased a new position in shares of ConnectOne Bancorp in the third quarter worth approximately $232,000. Finally, SG Americas Securities LLC bought a new stake in ConnectOne Bancorp during the third quarter valued at approximately $246,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNOB has been the topic of several analyst reports. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Keefe, Bruyette & Woods boosted their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ CNOB opened at $22.98 on Friday. The stock has a market cap of $881.74 million, a PE ratio of 13.21 and a beta of 1.30. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31. The firm has a fifty day moving average price of $25.17 and a 200-day moving average price of $24.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. ConnectOne Bancorp’s dividend payout ratio is presently 41.38%.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.