ConnectOne Bancorp (NASDAQ:CNOB) Sets New 1-Year High – Should You Buy?

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th.

ConnectOne Bancorp Stock Performance

The firm has a fifty day simple moving average of $25.68 and a 200-day simple moving average of $22.69. 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 current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.51%. ConnectOne Bancorp’s payout ratio is 41.38%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of ConnectOne Bancorp during the third quarter worth approximately $305,000. Geode Capital Management LLC grew its holdings in ConnectOne Bancorp by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after acquiring an additional 6,880 shares during the period. Barclays PLC raised its position in shares of ConnectOne Bancorp by 52.0% during the 3rd quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock valued at $2,874,000 after acquiring an additional 39,249 shares during the last quarter. Zacks Investment Management acquired a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at $232,000. Finally, Jane Street Group LLC lifted its stake in shares of ConnectOne Bancorp by 26.3% in the 3rd quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 9,313 shares during the period. Institutional investors own 67.70% of the company’s stock.

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.