Connor Clark & Lunn Investment Management Ltd. Invests $743,000 in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,643 shares of the financial services provider’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after purchasing an additional 53,563 shares during the last quarter. American Century Companies Inc. grew its holdings 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. Stieven Capital Advisors L.P. bought a new stake in ConnectOne Bancorp during the 3rd quarter worth approximately $6,488,000. Bank of New York Mellon Corp increased its position in ConnectOne Bancorp by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after acquiring an additional 5,186 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of ConnectOne Bancorp by 7.2% during the second quarter. Renaissance Technologies LLC now owns 209,487 shares of the financial services provider’s stock valued at $3,957,000 after acquiring an additional 14,124 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

Shares of CNOB stock opened at $27.75 on Friday. The stock has a market capitalization of $1.06 billion, a PE ratio of 15.95 and a beta of 1.25. The business’s 50 day simple moving average is $25.86 and its 200 day simple moving average is $22.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 2.59%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is presently 41.38%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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.