Deutsche Bank AG Takes $1.61 Million Position in ConnectOne Bancorp, Inc. $CNOB

Deutsche Bank AG bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the second quarter, Holdings Channel reports. The fund bought 48,293 shares of the financial services provider’s stock, valued at approximately $1,615,000.

A number of other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in shares of ConnectOne Bancorp by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 8,716 shares of the financial services provider’s stock worth $229,000 after buying an additional 560 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in ConnectOne Bancorp by 195.6% in the fourth quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 880 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ConnectOne Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 914 shares during the period. LPL Financial LLC increased its stake in ConnectOne Bancorp by 13.3% during the fourth quarter. LPL Financial LLC now owns 9,467 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 1,114 shares during the last quarter. Finally, Watershed Asset Management L.L.C. increased its stake in ConnectOne Bancorp by 8.4% during the first quarter. Watershed Asset Management L.L.C. now owns 16,379 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 1,265 shares during the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNOB has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Piper Sandler lifted their price target on shares of ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ConnectOne Bancorp in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.00.

ConnectOne Bancorp Price Performance

CNOB stock opened at $31.73 on Friday. The business’s fifty day moving average price is $32.77 and its 200 day moving average price is $29.97. ConnectOne Bancorp, Inc. has a 12-month low of $23.20 and a 12-month high of $34.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.60 billion, a PE ratio of 10.40 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 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $121.57 million during the quarter, compared to analysts’ expectations of $121.55 million. ConnectOne Bancorp had a return on equity of 11.24% and a net margin of 20.21%. On average, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 3.37 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.195 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.5%. ConnectOne Bancorp’s payout ratio is 25.57%.

About ConnectOne Bancorp

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.