Strs Ohio Sells 3,600 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Strs Ohio lowered its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,500 shares of the financial services provider’s stock after selling 3,600 shares during the quarter. Strs Ohio owned approximately 0.08% of ConnectOne Bancorp worth $698,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in ConnectOne Bancorp by 16.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,188 shares of the financial services provider’s stock worth $7,082,000 after acquiring an additional 55,682 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in ConnectOne Bancorp during the 3rd quarter worth about $1,086,000. Swiss National Bank grew its holdings in ConnectOne Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 81,900 shares of the financial services provider’s stock worth $1,460,000 after acquiring an additional 1,000 shares during the last quarter. FMR LLC grew its holdings in ConnectOne Bancorp by 27.0% during the 3rd quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock worth $62,414,000 after acquiring an additional 743,209 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in ConnectOne Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,045,578 shares of the financial services provider’s stock worth $36,473,000 after acquiring an additional 14,564 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

Wall Street Analyst Weigh In

CNOB has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Raymond James raised their target price on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods raised their target price on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, StockNews.com lowered shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.25.

ConnectOne Bancorp Stock Down 6.4 %

Shares of NASDAQ CNOB opened at $18.46 on Friday. The stock has a market cap of $707.57 million, a P/E ratio of 8.92 and a beta of 1.25. The firm has a 50 day moving average price of $19.21 and a 200 day moving average price of $20.06. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14. ConnectOne Bancorp, Inc. has a 52-week low of $13.11 and a 52-week high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $65.50 million. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. Analysts expect that ConnectOne Bancorp, Inc. will post 1.76 EPS for the current year.

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.