Earnest Partners LLC Increases Stock Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Earnest Partners LLC increased its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 42.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,221 shares of the financial services provider's stock after buying an additional 84,028 shares during the period. Earnest Partners LLC owned about 0.74% of ConnectOne Bancorp worth $6,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CNOB. Aquatic Capital Management LLC purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter valued at $62,000. Boothbay Fund Management LLC boosted its holdings in ConnectOne Bancorp by 14.6% during the fourth quarter. Boothbay Fund Management LLC now owns 288,363 shares of the financial services provider's stock worth $6,606,000 after buying an additional 36,690 shares in the last quarter. Voya Investment Management LLC boosted its position in ConnectOne Bancorp by 19.1% during the fourth quarter. Voya Investment Management LLC now owns 233,693 shares of the financial services provider's stock worth $5,354,000 after purchasing an additional 37,406 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ConnectOne Bancorp by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,924 shares of the financial services provider's stock valued at $915,000 after purchasing an additional 2,218 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of ConnectOne Bancorp by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock worth $511,000 after buying an additional 1,202 shares during the period. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB traded up $0.92 during trading hours on Friday, reaching $23.67. 224,564 shares of the company's stock were exchanged, compared to its average volume of 198,943. ConnectOne Bancorp, Inc. has a 1-year low of $17.07 and a 1-year high of $29.31. The firm has a market capitalization of $910.58 million, a price-to-earnings ratio of 13.37 and a beta of 1.09. The company has a 50-day moving average of $23.04 and a 200 day moving average of $24.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $70.21 million for the quarter, compared to analysts' expectations of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. Research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio is presently 38.92%.

Wall Street Analysts Forecast Growth

CNOB has been the subject of several recent research reports. Hovde Group increased their price objective on ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.

ConnectOne Bancorp 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.