Sei Investments Co. Has $4.20 Million Stock Position in ConnectOne Bancorp, Inc. $CNOB

Sei Investments Co. lifted its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 82.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,932 shares of the financial services provider’s stock after acquiring an additional 70,919 shares during the period. Sei Investments Co.’s holdings in ConnectOne Bancorp were worth $4,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Clearstead Advisors LLC lifted its position in ConnectOne Bancorp by 195.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 880 shares in the last quarter. Osaic Holdings Inc. boosted its stake in ConnectOne Bancorp by 728.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,566 shares during the last quarter. State of Wyoming bought a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $73,000. Farther Finance Advisors LLC increased its holdings in ConnectOne Bancorp by 129.1% during the 4th quarter. Farther Finance Advisors LLC now owns 3,475 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 1,958 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of ConnectOne Bancorp by 791.0% in the third quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 4,042 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Down 1.0%

Shares of CNOB stock opened at $33.09 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 10.85 and a beta of 1.05. ConnectOne Bancorp, Inc. has a 52-week low of $22.54 and a 52-week high of $34.14. The company has a 50-day simple moving average of $32.42 and a two-hundred day simple moving average of $29.45.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. ConnectOne Bancorp had a net margin of 20.21% and a return on equity of 11.24%. The firm had revenue of $121.57 million for the quarter, compared to analysts’ expectations of $121.55 million. Research analysts anticipate that ConnectOne Bancorp, Inc. will post 3.37 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 25.57%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Raymond James Financial reiterated a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Piper Sandler increased their price target on ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings upgraded ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Finally, Hovde Group lifted their price objective on shares of ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.00.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.