ConnectOne Bancorp, Inc. (CNOB) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP boosted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,356,084 shares of the financial services provider’s stock after buying an additional 152,549 shares during the quarter. Dimensional Fund Advisors LP owned 4.24% of ConnectOne Bancorp worth $30,580,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in ConnectOne Bancorp during the second quarter worth about $1,033,000. River Oaks Capital LLC boosted its stake in ConnectOne Bancorp by 9.6% during the second quarter. River Oaks Capital LLC now owns 181,000 shares of the financial services provider’s stock worth $4,082,000 after buying an additional 15,820 shares during the period. Vanguard Group Inc. boosted its stake in ConnectOne Bancorp by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,310,949 shares of the financial services provider’s stock worth $29,561,000 after buying an additional 69,802 shares during the period. Northern Trust Corp boosted its stake in ConnectOne Bancorp by 7.5% during the second quarter. Northern Trust Corp now owns 375,150 shares of the financial services provider’s stock worth $8,459,000 after buying an additional 26,073 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in ConnectOne Bancorp during the second quarter worth about $244,000. 68.30% of the stock is owned by institutional investors.
Several brokerages have weighed in on CNOB. Piper Jaffray Companies reaffirmed a “buy” rating and set a $30.50 target price on shares of ConnectOne Bancorp in a research note on Wednesday. Zacks Investment Research raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $32.00 target price on shares of ConnectOne Bancorp in a research note on Thursday, October 26th. Finally, BidaskClub raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.50.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, October 13th. ConnectOne Bancorp’s payout ratio is currently 31.58%.
ConnectOne Bancorp Company Profile
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.
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