Nuveen Asset Management LLC Invests $12.10 Million in ConnectOne Bancorp Inc (NASDAQ:CNOB)

Nuveen Asset Management LLC acquired a new position in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 533,889 shares of the financial services provider’s stock, valued at approximately $12,098,000.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of ConnectOne Bancorp by 11.8% during the 2nd quarter. BlackRock Inc. now owns 2,141,243 shares of the financial services provider’s stock worth $48,522,000 after purchasing an additional 226,756 shares during the period. Vanguard Group Inc. boosted its position in shares of ConnectOne Bancorp by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,608,847 shares of the financial services provider’s stock valued at $36,457,000 after acquiring an additional 36,646 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ConnectOne Bancorp by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,084,516 shares of the financial services provider’s stock valued at $24,575,000 after acquiring an additional 26,940 shares in the last quarter. Investment Counselors of Maryland LLC boosted its position in shares of ConnectOne Bancorp by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,043,867 shares of the financial services provider’s stock valued at $23,654,000 after acquiring an additional 11,396 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of ConnectOne Bancorp by 2.7% during the 2nd quarter. Northern Trust Corp now owns 386,657 shares of the financial services provider’s stock valued at $8,762,000 after acquiring an additional 10,074 shares in the last quarter. Institutional investors own 61.25% of the company’s stock.

CNOB has been the topic of several recent research reports. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Stephens upgraded shares of ConnectOne Bancorp from an “equal” rating to an “overweight” rating and set a $27.00 target price on the stock in a research report on Tuesday, July 9th. Finally, BidaskClub upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. ConnectOne Bancorp presently has an average rating of “Hold” and a consensus price target of $25.50.

In other news, Director Frank W. Baier purchased 5,000 shares of ConnectOne Bancorp stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the completion of the transaction, the director now directly owns 82,233 shares in the company, valued at $1,643,837.67. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen T. Boswell purchased 10,500 shares of ConnectOne Bancorp stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $20.47 per share, for a total transaction of $214,935.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 21,519 shares of company stock worth $327,766. 7.58% of the stock is owned by company insiders.

Shares of ConnectOne Bancorp stock opened at $22.13 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $21.55 and its 200-day simple moving average is $21.56. ConnectOne Bancorp Inc has a twelve month low of $17.07 and a twelve month high of $23.36. The firm has a market cap of $769.28 million, a P/E ratio of 9.80 and a beta of 0.95.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). ConnectOne Bancorp had a net margin of 27.54% and a return on equity of 11.59%. The business had revenue of $47.47 million for the quarter, compared to analyst estimates of $47.88 million. On average, equities analysts forecast that ConnectOne Bancorp Inc will post 2.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 14th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.63%. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 16.14%.

ConnectOne Bancorp Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.

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Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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