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

Banc Funds Co. LLC boosted its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 489,086 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. ConnectOne Bancorp comprises about 1.3% of Banc Funds Co. LLC’s investment portfolio, making the stock its 29th biggest position. Banc Funds Co. LLC’s holdings in ConnectOne Bancorp were worth $12,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNOB. Copeland Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at about $53,000. Bryn Mawr Capital Management LLC bought a new position in ConnectOne Bancorp during the second quarter worth about $171,000. Evergreen Capital Management LLC acquired a new stake in ConnectOne Bancorp during the second quarter valued at approximately $196,000. Palouse Capital Management Inc. grew its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,607 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of ConnectOne Bancorp in the 3rd quarter valued at approximately $246,000. Institutional investors own 67.70% of the company’s stock.

Wall Street Analyst Weigh In

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

ConnectOne Bancorp Trading Down 0.9 %

Shares of ConnectOne Bancorp stock opened at $27.50 on Monday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.80 and a beta of 1.25. 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 company has a 50-day simple moving average of $25.93 and a 200 day simple moving average of $22.96.

ConnectOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s payout ratio is 41.38%.

ConnectOne Bancorp Company 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.