ConnectOne Bancorp, Inc. $CNOB Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 12.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,407 shares of the financial services provider’s stock after selling 25,275 shares during the quarter. Voya Investment Management LLC owned approximately 0.34% of ConnectOne Bancorp worth $4,302,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CNOB. Geode Capital Management LLC increased its holdings in shares of ConnectOne Bancorp by 33.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,160,058 shares of the financial services provider’s stock valued at $26,870,000 after acquiring an additional 288,530 shares during the last quarter. American Century Companies Inc. lifted its stake in ConnectOne Bancorp by 24.5% during the second quarter. American Century Companies Inc. now owns 983,452 shares of the financial services provider’s stock worth $22,777,000 after purchasing an additional 193,692 shares during the last quarter. Stieven Capital Advisors L.P. boosted its holdings in ConnectOne Bancorp by 3.6% in the second quarter. Stieven Capital Advisors L.P. now owns 542,067 shares of the financial services provider’s stock worth $12,554,000 after purchasing an additional 19,085 shares during the period. Boothbay Fund Management LLC increased its stake in ConnectOne Bancorp by 0.5% during the second quarter. Boothbay Fund Management LLC now owns 431,477 shares of the financial services provider’s stock valued at $9,993,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ConnectOne Bancorp by 39.8% during the second quarter. Bank of New York Mellon Corp now owns 340,974 shares of the financial services provider’s stock worth $7,897,000 after purchasing an additional 97,132 shares during the period. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Up 0.2%

ConnectOne Bancorp stock opened at $26.93 on Friday. The company has a 50-day simple moving average of $25.33 and a 200-day simple moving average of $24.71. The firm has a market capitalization of $1.35 billion, a P/E ratio of 21.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03. ConnectOne Bancorp, Inc. has a one year low of $20.61 and a one year high of $28.47.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. ConnectOne Bancorp had a net margin of 9.90% and a return on equity of 8.22%. The firm had revenue of $110.78 million for the quarter, compared to the consensus estimate of $111.20 million. As a group, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 14th. ConnectOne Bancorp’s dividend payout ratio is 58.06%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of ConnectOne Bancorp in a research report on Wednesday, October 8th. Piper Sandler began coverage on shares of ConnectOne Bancorp in a report on Friday, November 7th. They issued an “overweight” rating and a $28.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, ConnectOne Bancorp currently has an average rating of “Moderate Buy” and an average price target of $29.50.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.