ConnectOne Bancorp (NASDAQ:CNOB) Reaches New 12-Month High – What’s Next?

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) reached a new 52-week high on Monday . The stock traded as high as $29.02 and last traded at $29.02, with a volume of 26168 shares trading hands. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

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

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 16.47 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $25.68 and its two-hundred day simple moving average is $22.69.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in ConnectOne Bancorp by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock valued at $41,802,000 after purchasing an additional 53,563 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ConnectOne Bancorp by 0.8% in the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock valued at $21,359,000 after acquiring an additional 6,880 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of ConnectOne Bancorp by 698.1% in the 1st quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock worth $13,197,000 after acquiring an additional 591,995 shares in the last quarter. American Century Companies Inc. grew its position in ConnectOne Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after acquiring an additional 85,437 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in ConnectOne Bancorp during the 3rd quarter valued at $14,127,000. 67.70% of the stock is currently owned by institutional investors.

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.