Peregrine Capital Management LLC grew its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 318,815 shares of the financial services provider’s stock after buying an additional 6,469 shares during the quarter. Peregrine Capital Management LLC owned approximately 1.00% of ConnectOne Bancorp worth $7,843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CNOB. Legal & General Group Plc grew its stake in shares of ConnectOne Bancorp by 4.0% during the second quarter. Legal & General Group Plc now owns 7,868 shares of the financial services provider’s stock worth $177,000 after buying an additional 300 shares during the last quarter. Benchmark Capital Advisors bought a new stake in shares of ConnectOne Bancorp during the third quarter worth $202,000. Clear Harbor Asset Management LLC bought a new stake in shares of ConnectOne Bancorp during the third quarter worth $209,000. Karp Capital Management Corp bought a new stake in shares of ConnectOne Bancorp during the first quarter worth $218,000. Finally, Trexquant Investment LP bought a new stake in shares of ConnectOne Bancorp during the second quarter worth $227,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on CNOB shares. Piper Jaffray Companies reissued a “buy” rating and issued a $30.50 price objective 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 price objective on the stock in a research note on Monday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $32.00 price objective 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 given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.50.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend was Friday, October 13th. ConnectOne Bancorp’s dividend payout ratio is currently 31.58%.
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ConnectOne Bancorp 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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