Hennessy Advisors Inc. Acquires 5,000 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Hennessy Advisors Inc. raised its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.25% of ConnectOne Bancorp worth $2,176,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CNOB. Hsbc Holdings PLC boosted its position in ConnectOne Bancorp by 6.7% during the 2nd quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 1,131 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in ConnectOne Bancorp by 5.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 30,343 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 1,605 shares during the period. Palouse Capital Management Inc. raised its holdings in ConnectOne Bancorp by 25.1% in the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,607 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. lifted its position in ConnectOne Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider’s stock valued at $2,200,000 after buying an additional 1,800 shares during the period. Finally, Copeland Capital Management LLC bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at $53,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNOB. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Keefe, Bruyette & Woods boosted their price target 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.

ConnectOne Bancorp Stock Performance

Shares of CNOB stock opened at $22.98 on Friday. The company has a market capitalization of $881.74 million, a price-to-earnings ratio of 13.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. The company’s 50-day moving average is $25.17 and its 200 day moving average is $24.26.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.18 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. ConnectOne Bancorp’s payout ratio is currently 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.