Salzhauer Michael Purchases 10,236 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Salzhauer Michael lifted its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 15.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 76,496 shares of the financial services provider’s stock after acquiring an additional 10,236 shares during the quarter. ConnectOne Bancorp makes up approximately 0.6% of Salzhauer Michael’s portfolio, making the stock its 22nd biggest position. Salzhauer Michael’s holdings in ConnectOne Bancorp were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new stake in ConnectOne Bancorp in the third quarter worth about $53,000. Palouse Capital Management Inc. raised its holdings 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 in the last quarter. Serenus Wealth Advisors LLC purchased a new stake in shares of ConnectOne Bancorp in the 4th quarter worth approximately $209,000. Zacks Investment Management bought a new position in shares of ConnectOne Bancorp during the third quarter valued at approximately $232,000. Finally, SG Americas Securities LLC purchased a new position in ConnectOne Bancorp during the third quarter valued at approximately $246,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Down 0.0 %

Shares of ConnectOne Bancorp stock opened at $26.95 on Monday. 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 market cap of $1.03 billion, a P/E ratio of 15.23 and a beta of 1.30. The firm’s 50 day moving average price is $24.28 and its 200-day moving average price is $24.71. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, sell-side analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

Analyst Upgrades and Downgrades

CNOB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th.

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.