Avantax Advisory Services Inc. Has $671,000 Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Avantax Advisory Services Inc. boosted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,279 shares of the financial services provider’s stock after buying an additional 6,849 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ConnectOne Bancorp were worth $671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNOB. Raymond James Financial Inc. bought a new position in shares of ConnectOne Bancorp in the 4th quarter worth about $1,303,000. Proficio Capital Partners LLC bought a new position in shares of ConnectOne Bancorp in the 4th quarter worth about $375,000. Victory Capital Management Inc. raised its position in shares of ConnectOne Bancorp by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 2,780 shares in the last quarter. Denali Advisors LLC raised its position in shares of ConnectOne Bancorp by 11.2% in the 4th quarter. Denali Advisors LLC now owns 36,800 shares of the financial services provider’s stock worth $843,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ConnectOne Bancorp by 32.3% in the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 61,165 shares in the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock opened at $23.55 on Friday. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. The firm has a market capitalization of $903.71 million, a price-to-earnings ratio of 13.31 and a beta of 1.30. The business has a 50-day simple moving average of $24.58 and a 200 day simple moving average of $25.02. 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 (NASDAQ:CNOB) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. On average, research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is 40.68%.

About ConnectOne Bancorp

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.