Olympiad Research LP Buys New Shares in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Olympiad Research LP purchased a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the third quarter, Holdings Channel.com reports. The firm purchased 11,047 shares of the financial services provider’s stock, valued at approximately $277,000.

A number of other institutional investors also recently bought and sold shares of CNOB. Copeland Capital Management LLC purchased a new stake in ConnectOne Bancorp during the 3rd quarter worth about $53,000. Bryn Mawr Capital Management LLC purchased a new stake in ConnectOne Bancorp during the 2nd quarter worth about $171,000. Evergreen Capital Management LLC purchased a new stake in ConnectOne Bancorp during the 2nd quarter worth about $196,000. Palouse Capital Management Inc. lifted its holdings in ConnectOne Bancorp by 25.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,607 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ConnectOne Bancorp during the 3rd quarter worth about $246,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler lifted their price target on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Finally, StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

ConnectOne Bancorp Stock Down 5.9 %

ConnectOne Bancorp stock opened at $26.91 on Friday. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $1.03 billion, a P/E ratio of 15.47 and a beta of 1.25. The stock has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $21.99.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 41.38%.

ConnectOne Bancorp 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.