ConnectOne Bancorp (NASDAQ:CNOB) Sets New 52-Week High – Here’s Why

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.02 and last traded at $29.02, with a volume of 26168 shares traded. The stock had previously closed at $27.83.

Wall Street Analysts Forecast Growth

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

ConnectOne Bancorp Price Performance

The company has a 50 day moving average of $25.82 and a 200 day moving average of $22.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 16.00 and a beta of 1.25.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is currently 41.38%.

Hedge Funds Weigh In On ConnectOne Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of ConnectOne Bancorp by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock valued at $41,802,000 after buying an additional 53,563 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ConnectOne Bancorp by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 1,535 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of ConnectOne Bancorp by 196.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock valued at $1,086,000 after purchasing an additional 40,334 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of ConnectOne Bancorp by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after purchasing an additional 5,186 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of ConnectOne Bancorp by 8.2% during the second quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock worth $399,000 after buying an additional 1,606 shares during the period. 67.70% of the stock is currently owned by institutional investors and hedge funds.

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.