ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Short Interest Down 6.1% in November

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 631,000 shares, a drop of 6.1% from the November 15th total of 672,300 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 203,600 shares, the short-interest ratio is presently 3.1 days.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ CNOB traded up $0.45 during midday trading on Monday, hitting $26.41. The company’s stock had a trading volume of 216,608 shares, compared to its average volume of 185,762. The stock has a fifty day moving average price of $26.37 and a 200 day moving average price of $23.42. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.18 and a beta of 1.27. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. 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 business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.73%. ConnectOne Bancorp’s dividend payout ratio is currently 41.38%.

Hedge Funds Weigh In On ConnectOne Bancorp

A number of large investors have recently made changes to their positions in CNOB. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ConnectOne Bancorp during the 3rd quarter worth about $743,000. Thrivent Financial for Lutherans bought a new stake in shares of ConnectOne Bancorp during the second quarter valued at about $1,648,000. Cornercap Investment Counsel Inc. lifted its holdings in shares of ConnectOne Bancorp by 111.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock worth $1,047,000 after buying an additional 29,161 shares in the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of ConnectOne Bancorp in the third quarter valued at approximately $6,488,000. Finally, SG Americas Securities LLC purchased a new position in ConnectOne Bancorp during the third quarter valued at approximately $246,000. 67.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

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.