ConnectOne Bancorp, Inc. $CNOB Shares Bought by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. increased its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 79.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,972 shares of the financial services provider’s stock after buying an additional 56,936 shares during the quarter. ConnectOne Bancorp comprises approximately 0.9% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 28th largest position. Endeavour Capital Advisors Inc. owned 0.26% of ConnectOne Bancorp worth $3,382,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Clearstead Advisors LLC increased its position in ConnectOne Bancorp by 195.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 880 shares during the period. Osaic Holdings Inc. lifted its holdings in ConnectOne Bancorp by 728.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,566 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in ConnectOne Bancorp by 129.1% during the fourth quarter. Farther Finance Advisors LLC now owns 3,475 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 1,958 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of ConnectOne Bancorp by 791.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 4,042 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of ConnectOne Bancorp by 707.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,440 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 5,642 shares during the period. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB opened at $29.76 on Tuesday. ConnectOne Bancorp, Inc. has a twelve month low of $21.79 and a twelve month high of $30.65. The stock has a market cap of $1.50 billion, a P/E ratio of 17.20 and a beta of 1.06. The company’s 50-day simple moving average is $28.15 and its 200 day simple moving average is $27.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.14.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. ConnectOne Bancorp had a return on equity of 10.17% and a net margin of 13.21%.The business had revenue of $116.64 million during the quarter, compared to the consensus estimate of $119.59 million. As a group, research analysts forecast that ConnectOne Bancorp, Inc. will post 3.3 earnings per share for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 2.6%. ConnectOne Bancorp’s dividend payout ratio (DPR) is 45.09%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNOB. Weiss Ratings upgraded shares of ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods increased their price objective on ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Raymond James Financial restated a “strong-buy” rating and set a $34.00 target price on shares of ConnectOne Bancorp in a report on Monday, April 27th. Piper Sandler began coverage on shares of ConnectOne Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $31.00 price target on the stock. Finally, Hovde Group boosted their price objective on ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, ConnectOne Bancorp presently has an average rating of “Buy” and an average target price of $33.25.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.