ConnectOne Bancorp Inc (CNOB) Stake Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,479,571 shares of the financial services provider’s stock after purchasing an additional 123,487 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ConnectOne Bancorp were worth $36,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of CNOB. Jacobs Asset Management LLC purchased a new position in shares of ConnectOne Bancorp in the 2nd quarter worth about $4,182,000. Goldman Sachs Group Inc. raised its position in shares of ConnectOne Bancorp by 7.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,358,490 shares of the financial services provider’s stock worth $30,634,000 after purchasing an additional 94,746 shares during the last quarter. Vanguard Group Inc. raised its position in shares of ConnectOne Bancorp by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,310,949 shares of the financial services provider’s stock worth $29,561,000 after purchasing an additional 69,802 shares during the last quarter. Brown Advisory Inc. raised its position in shares of ConnectOne Bancorp by 5.4% in the 3rd quarter. Brown Advisory Inc. now owns 1,229,728 shares of the financial services provider’s stock worth $30,251,000 after purchasing an additional 63,379 shares during the last quarter. Finally, Banc Funds Co. LLC raised its position in shares of ConnectOne Bancorp by 6.8% in the 2nd quarter. Banc Funds Co. LLC now owns 784,153 shares of the financial services provider’s stock worth $17,683,000 after purchasing an additional 50,000 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Frank Sorrentino III sold 5,848 shares of ConnectOne Bancorp stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $26.49, for a total value of $154,913.52. Following the completion of the sale, the chief executive officer now directly owns 560,562 shares in the company, valued at approximately $14,849,287.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura Criscione sold 4,300 shares of ConnectOne Bancorp stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $26.49, for a total value of $113,907.00. Following the completion of the sale, the executive vice president now owns 56,536 shares of the company’s stock, valued at $1,497,638.64. The disclosure for this sale can be found here. 7.63% of the stock is currently owned by company insiders.

Several equities analysts have recently issued reports on CNOB shares. Zacks Investment Research raised ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price target for the company in a research report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 price target on shares of ConnectOne Bancorp in a research report on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $32.00 price objective on shares of ConnectOne Bancorp in a report on Thursday, October 26th. Finally, BidaskClub downgraded ConnectOne Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 21st.

Shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) opened at $28.50 on Friday. ConnectOne Bancorp Inc has a twelve month low of $21.04 and a twelve month high of $29.00. The company has a market capitalization of $915.64, a PE ratio of 30.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be issued a $0.075 dividend. The ex-dividend date is Thursday, January 11th. This represents a $0.30 annualized dividend and a yield of 1.05%. ConnectOne Bancorp’s payout ratio is 31.58%.

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About ConnectOne Bancorp

ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.

Want to see what other hedge funds are holding CNOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConnectOne Bancorp Inc (NASDAQ:CNOB).

Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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