Connor Clark & Lunn Investment Management Ltd. Buys 18,953 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,596 shares of the financial services provider’s stock after buying an additional 18,953 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ConnectOne Bancorp were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Serenus Wealth Advisors LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $209,000. Zacks Investment Management bought a new stake in shares of ConnectOne Bancorp in the third quarter valued at approximately $232,000. Wilmington Savings Fund Society FSB bought a new stake in shares of ConnectOne Bancorp in the third quarter valued at approximately $305,000. SG Americas Securities LLC boosted its stake in shares of ConnectOne Bancorp by 52.5% in the fourth quarter. SG Americas Securities LLC now owns 14,992 shares of the financial services provider’s stock valued at $343,000 after buying an additional 5,158 shares during the period. Finally, Centiva Capital LP bought a new stake in shares of ConnectOne Bancorp in the third quarter valued at approximately $363,000. 67.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, 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 research note on Wednesday, December 4th.

ConnectOne Bancorp Stock Down 1.7 %

NASDAQ CNOB opened at $23.59 on Friday. The business has a fifty day moving average price of $24.54 and a two-hundred day moving average price of $25.03. 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, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The stock has a market capitalization of $905.24 million, a PE ratio of 13.33 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.05%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

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.