Banc Funds Co. LLC Acquires 5,000 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Banc Funds Co. LLC raised its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 489,086 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. ConnectOne Bancorp comprises approximately 1.3% of Banc Funds Co. LLC’s holdings, making the stock its 29th largest position. Banc Funds Co. LLC owned about 1.27% of ConnectOne Bancorp worth $12,252,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp in the 3rd quarter valued at $53,000. Bryn Mawr Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp in the second quarter worth about $171,000. Evergreen Capital Management LLC bought a new stake in shares of ConnectOne Bancorp during the 2nd quarter worth about $196,000. Palouse Capital Management Inc. boosted its stake in shares of ConnectOne Bancorp by 25.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,607 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp during the 3rd quarter valued at about $246,000. 67.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

ConnectOne Bancorp Stock Down 0.9 %

CNOB stock opened at $27.50 on Monday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.80 and a beta of 1.25. The company has a 50-day moving average of $25.93 and a two-hundred day moving average of $22.96. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 41.38%.

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.