Cornercap Investment Counsel Inc. Has $710,000 Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Cornercap Investment Counsel Inc. reduced its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 48.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,327 shares of the financial services provider’s stock after selling 27,079 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in ConnectOne Bancorp were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC bought a new position in ConnectOne Bancorp in the third quarter valued at approximately $53,000. Bryn Mawr Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at $171,000. Evergreen Capital Management LLC bought a new position in shares of ConnectOne Bancorp in the 2nd quarter valued at $196,000. Palouse Capital Management Inc. raised its holdings in shares of ConnectOne Bancorp by 25.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,607 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth $246,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $27.09 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of 15.57 and a beta of 1.25. 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 stock has a 50-day moving average price of $25.40 and a two-hundred day moving average price of $22.36. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.02.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.72 annualized dividend and a yield of 2.66%. ConnectOne Bancorp’s dividend payout ratio is presently 41.38%.

Analysts Set New Price Targets

A number of research firms have issued reports on CNOB. Piper Sandler lifted their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th.

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.