Serenus Wealth Advisors LLC Purchases New Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Serenus Wealth Advisors LLC purchased a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,129 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other institutional investors have also recently bought and sold shares of the business. Copeland Capital Management LLC bought a new stake in ConnectOne Bancorp during the third quarter worth $53,000. Palouse Capital Management Inc. grew its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,607 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of ConnectOne Bancorp in the third quarter valued at about $232,000. SG Americas Securities LLC bought a new position in shares of ConnectOne Bancorp during the third quarter valued at about $246,000. Finally, Olympiad Research LP purchased a new position in ConnectOne Bancorp during the third quarter worth about $277,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

CNOB opened at $26.95 on Friday. The firm has a 50-day moving average of $24.29 and a 200 day moving average of $24.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The firm has a market cap of $1.03 billion, a P/E ratio of 15.23 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. On average, research analysts expect that ConnectOne Bancorp, Inc. will post 2.19 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

Analyst Ratings Changes

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

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.