Short Interest in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Decreases By 6.1%

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 631,000 shares, a drop of 6.1% from the November 15th total of 672,300 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 203,600 shares, the days-to-cover ratio is currently 3.1 days.

ConnectOne Bancorp Stock Up 1.7 %

Shares of NASDAQ:CNOB traded up $0.45 during midday trading on Monday, hitting $26.41. 216,608 shares of the company’s stock were exchanged, compared to its average volume of 185,762. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $29.31. The company has a market cap of $1.01 billion, a PE ratio of 15.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day moving average price of $26.37 and a 200-day moving average price of $23.42.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 41.38%.

Analyst Ratings Changes

A number of analysts recently commented on CNOB shares. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Keefe, Bruyette & Woods upped their target price on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in ConnectOne Bancorp by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock worth $4,136,000 after purchasing an additional 5,186 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of ConnectOne Bancorp by 8.2% in the 2nd quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock worth $399,000 after buying an additional 1,606 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of ConnectOne Bancorp in the second quarter valued at approximately $171,000. Victory Capital Management Inc. increased its position in shares of ConnectOne Bancorp by 14.8% during the second quarter. Victory Capital Management Inc. now owns 56,000 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 7,200 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in ConnectOne Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after acquiring an additional 85,437 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.