Hotchkis & Wiley Capital Management LLC Lowers Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Hotchkis & Wiley Capital Management LLC cut its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 17.0% during the third quarter, HoldingsChannel reports. The firm owned 530,060 shares of the financial services provider’s stock after selling 108,730 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in ConnectOne Bancorp were worth $13,278,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CNOB. Hsbc Holdings PLC grew its stake in ConnectOne Bancorp by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 1,131 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ConnectOne Bancorp by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 1,535 shares during the period. Principal Financial Group Inc. increased its holdings in ConnectOne Bancorp by 8.2% during the 2nd quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 1,606 shares during the period. Palouse Capital Management Inc. raised its position 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 valued at $201,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. lifted its holdings in shares of ConnectOne Bancorp by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider’s stock worth $2,200,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

ConnectOne Bancorp Price Performance

NASDAQ CNOB opened at $26.95 on Wednesday. The company has a market cap of $1.03 billion, a PE ratio of 15.49 and a beta of 1.27. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. 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 firm’s 50 day moving average price is $26.02 and its 200-day moving average price is $23.05.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, November 15th. ConnectOne Bancorp’s payout ratio is 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.