Franklin Resources Inc. Grows Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Franklin Resources Inc. boosted its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 52.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 242,920 shares of the financial services provider’s stock after purchasing an additional 83,950 shares during the period. Franklin Resources Inc.’s holdings in ConnectOne Bancorp were worth $6,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNOB. Copeland Capital Management LLC bought a new position in shares of ConnectOne Bancorp in the third quarter valued at approximately $53,000. Palouse Capital Management Inc. boosted its position in ConnectOne Bancorp by 25.1% in the third 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 last quarter. Bryn Mawr Capital Management LLC bought a new position in ConnectOne Bancorp in the 2nd quarter valued at $171,000. Zacks Investment Management purchased a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at $232,000. Finally, SG Americas Securities LLC bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth $246,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CNOB shares. Keefe, Bruyette & Woods increased their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

ConnectOne Bancorp Trading Up 0.3 %

Shares of CNOB opened at $23.25 on Monday. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The business has a 50-day moving average of $26.31 and a 200 day moving average of $23.64. The firm has a market cap of $892.10 million, a P/E ratio of 13.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 41.38%.

ConnectOne Bancorp 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.