Gator Capital Management LLC Acquires 47,856 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Gator Capital Management LLC increased its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,523 shares of the financial services provider’s stock after acquiring an additional 47,856 shares during the period. ConnectOne Bancorp makes up 1.3% of Gator Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Gator Capital Management LLC owned about 0.39% of ConnectOne Bancorp worth $3,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNOB. Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp in the 3rd quarter worth approximately $14,127,000. Stieven Capital Advisors L.P. boosted its holdings in ConnectOne Bancorp by 96.2% in the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after acquiring an additional 249,265 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of ConnectOne Bancorp by 52.8% in the third quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after acquiring an additional 83,950 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ConnectOne Bancorp by 32.3% in the fourth quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 61,165 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ConnectOne Bancorp during the fourth quarter valued at $1,303,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

CNOB stock opened at $21.61 on Friday. The stock’s 50 day simple moving average is $24.75 and its 200 day simple moving average is $24.98. 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, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The stock has a market capitalization of $829.26 million, a PE ratio of 12.21 and a beta of 1.29.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is presently 40.68%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised shares of ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $31.00 to $32.00 in a research report on Wednesday, March 26th.

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.