The Manufacturers Life Insurance Company Has $7.74 Million Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

The Manufacturers Life Insurance Company cut its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 4.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 308,933 shares of the financial services provider’s stock after selling 13,481 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ConnectOne Bancorp were worth $7,739,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ConnectOne Bancorp in the 3rd quarter worth approximately $743,000. Stieven Capital Advisors L.P. acquired a new stake in ConnectOne Bancorp during the 3rd quarter valued at $6,488,000. Empowered Funds LLC increased its holdings in ConnectOne Bancorp by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 136,972 shares of the financial services provider’s stock valued at $3,431,000 after purchasing an additional 6,968 shares in the last quarter. Olympiad Research LP acquired a new stake in ConnectOne Bancorp during the 3rd quarter valued at $277,000. Finally, Rosenthal Henry Capital Advisors Inc. increased its holdings in ConnectOne Bancorp by 2.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider’s stock valued at $2,200,000 after purchasing an additional 1,800 shares in the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNOB shares. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods raised 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.

ConnectOne Bancorp Stock Up 2.7 %

Shares of CNOB opened at $27.67 on Thursday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.90 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. The business’s fifty day moving average price is $26.09 and its two-hundred day moving average price is $23.08. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.18 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.60%. ConnectOne Bancorp’s payout ratio is 41.38%.

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.