Dimensional Fund Advisors LP Has $52.56 Million Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Dimensional Fund Advisors LP increased its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,294,385 shares of the financial services provider’s stock after purchasing an additional 8,595 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of ConnectOne Bancorp worth $52,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in shares of ConnectOne Bancorp by 792.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,030 shares during the period. KLP Kapitalforvaltning AS purchased a new position in ConnectOne Bancorp in the fourth quarter valued at about $149,000. Quantbot Technologies LP acquired a new position in ConnectOne Bancorp in the 4th quarter worth about $205,000. Serenus Wealth Advisors LLC purchased a new stake in shares of ConnectOne Bancorp during the 4th quarter worth about $209,000. Finally, Zacks Investment Management lifted its holdings in shares of ConnectOne Bancorp by 35.1% during the 4th quarter. Zacks Investment Management now owns 12,504 shares of the financial services provider’s stock valued at $286,000 after buying an additional 3,251 shares during the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Stock Up 4.0 %

Shares of ConnectOne Bancorp stock opened at $23.67 on Friday. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $23.04 and a two-hundred day moving average price of $24.52. The stock has a market capitalization of $910.58 million, a P/E ratio of 13.37 and a beta of 1.09.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $70.21 million for the quarter, compared to analyst estimates of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. Equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 3.04%. ConnectOne Bancorp’s payout ratio is 38.92%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Hovde Group upped their price objective on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an “outperform” rating in a report on Thursday, April 24th.

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.