Endeavour Capital Advisors Inc. Buys 56,936 Shares of ConnectOne Bancorp, Inc. $CNOB

Endeavour Capital Advisors Inc. grew its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 79.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 128,972 shares of the financial services provider’s stock after purchasing an additional 56,936 shares during the period. ConnectOne Bancorp accounts for 0.9% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 28th biggest holding. Endeavour Capital Advisors Inc.’s holdings in ConnectOne Bancorp were worth $3,382,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Clearstead Advisors LLC grew its holdings in ConnectOne Bancorp by 195.6% during the 4th quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 880 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of ConnectOne Bancorp by 728.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,566 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in ConnectOne Bancorp by 129.1% in the fourth quarter. Farther Finance Advisors LLC now owns 3,475 shares of the financial services provider’s stock valued at $91,000 after buying an additional 1,958 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in ConnectOne Bancorp by 791.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 4,042 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of ConnectOne Bancorp by 707.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,440 shares of the financial services provider’s stock worth $149,000 after buying an additional 5,642 shares during the period. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

Shares of NASDAQ:CNOB opened at $29.76 on Tuesday. The firm’s fifty day moving average is $28.15 and its 200-day moving average is $27.09. ConnectOne Bancorp, Inc. has a 52 week low of $21.79 and a 52 week high of $30.65. The firm has a market cap of $1.50 billion, a PE ratio of 17.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 0.97.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. ConnectOne Bancorp had a return on equity of 10.17% and a net margin of 13.21%.The business had revenue of $116.64 million during the quarter, compared to analyst estimates of $119.59 million. Sell-side analysts predict that ConnectOne Bancorp, Inc. will post 3.3 earnings per share for the current year.

ConnectOne Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.195 per share. This is an increase from ConnectOne Bancorp’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, May 15th. ConnectOne Bancorp’s dividend payout ratio is 45.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CNOB shares. Keefe, Bruyette & Woods raised their target price on shares of ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Piper Sandler initiated coverage on ConnectOne Bancorp in a report on Monday, March 16th. They set an “overweight” rating and a $31.00 price target for the company. Hovde Group boosted their price objective on ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $34.00 price target on shares of ConnectOne Bancorp in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.25.

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.