State of New Jersey Common Pension Fund D Has $1.99 Million Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

State of New Jersey Common Pension Fund D decreased its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 21.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,534 shares of the financial services provider’s stock after selling 21,380 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ConnectOne Bancorp were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNOB. Copeland Capital Management LLC acquired a new position in ConnectOne Bancorp during the 3rd quarter worth $53,000. Bryn Mawr Capital Management LLC acquired a new position in shares of ConnectOne Bancorp during the second quarter valued at about $171,000. Evergreen Capital Management LLC acquired a new position in shares of ConnectOne Bancorp during the second quarter valued at about $196,000. Palouse Capital Management Inc. raised its position in shares of ConnectOne Bancorp by 25.1% during the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after buying an additional 1,607 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp during the third quarter valued at about $246,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB opened at $27.09 on Friday. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.04 billion, a PE ratio of 15.57 and a beta of 1.25. The firm has a 50-day moving average price of $25.40 and a 200 day moving average price of $22.39.

ConnectOne Bancorp Dividend Announcement

The firm 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 2.66%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 41.38%.

Analysts Set New Price Targets

CNOB has been the subject of a number of research analyst reports. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Finally, Piper Sandler upped their price objective on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

About ConnectOne Bancorp

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.