Wellington Management Group LLP Sells 143,771 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wellington Management Group LLP decreased its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,166 shares of the financial services provider’s stock after selling 143,771 shares during the period. Wellington Management Group LLP owned 1.10% of ConnectOne Bancorp worth $9,626,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC grew its position in ConnectOne Bancorp by 52.0% in the 3rd quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 39,249 shares during the last quarter. Salzhauer Michael raised its holdings in ConnectOne Bancorp by 15.4% in the 4th quarter. Salzhauer Michael now owns 76,496 shares of the financial services provider’s stock valued at $1,753,000 after acquiring an additional 10,236 shares in the last quarter. Stifel Financial Corp lifted its position in shares of ConnectOne Bancorp by 4.0% in the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider’s stock worth $2,296,000 after acquiring an additional 3,565 shares during the period. Victory Capital Management Inc. grew its holdings in shares of ConnectOne Bancorp by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 2,780 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of ConnectOne Bancorp during the fourth quarter valued at approximately $414,000. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB opened at $22.62 on Thursday. The firm has a market capitalization of $868.02 million, a PE ratio of 12.78 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The firm has a 50-day moving average price of $24.51 and a 200 day moving average price of $24.85.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is 40.68%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $31.00 to $32.00 in a research report on Wednesday, March 26th.

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.