First Trust Advisors LP Has $2.18 Million Holdings in ConnectOne Bancorp, Inc. $CNOB

First Trust Advisors LP increased its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 40.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,570 shares of the financial services provider’s stock after purchasing an additional 23,375 shares during the period. First Trust Advisors LP’s holdings in ConnectOne Bancorp were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CNOB. Hsbc Holdings PLC acquired a new stake in ConnectOne Bancorp in the 1st quarter valued at $983,000. Kestra Advisory Services LLC boosted its stake in shares of ConnectOne Bancorp by 226.6% during the 1st quarter. Kestra Advisory Services LLC now owns 97,663 shares of the financial services provider’s stock worth $2,614,000 after acquiring an additional 67,761 shares during the period. UBS Group AG boosted its position in ConnectOne Bancorp by 579.2% during the fourth quarter. UBS Group AG now owns 705,119 shares of the financial services provider’s stock worth $18,488,000 after purchasing an additional 601,310 shares during the period. Kennedy Capital Management LLC grew its stake in ConnectOne Bancorp by 13.0% in the 4th quarter. Kennedy Capital Management LLC now owns 863,983 shares of the financial services provider’s stock valued at $22,654,000 after buying an additional 99,228 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $4,261,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

Analysts Set New Price Targets

CNOB has been the topic of several research reports. Raymond James Financial restated a “market perform” rating on shares of ConnectOne Bancorp in a research note on Wednesday, July 1st. Weiss Ratings upgraded ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Hovde Group boosted their target price on shares of ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Piper Sandler lifted their price target on ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Keefe, Bruyette & Woods raised their target price on ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

ConnectOne Bancorp Trading Down 0.8%

NASDAQ:CNOB opened at $32.82 on Friday. ConnectOne Bancorp, Inc. has a 52 week low of $22.54 and a 52 week high of $34.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s fifty day moving average is $32.48 and its 200-day moving average is $29.48. The firm has a market cap of $1.65 billion, a P/E ratio of 10.76 and a beta of 1.05.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $121.57 million during the quarter, compared to the consensus estimate of $121.55 million. ConnectOne Bancorp had a net margin of 20.21% and a return on equity of 11.24%. Equities analysts expect that ConnectOne Bancorp, Inc. will post 3.37 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.195 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.78 annualized dividend and a dividend yield of 2.4%. ConnectOne Bancorp’s dividend payout ratio (DPR) is 25.57%.

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.