ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Holdings Cut by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,252 shares of the financial services provider's stock after selling 34,032 shares during the period. BNP Paribas Financial Markets owned about 0.06% of ConnectOne Bancorp worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Sterling Capital Management LLC raised its holdings in shares of ConnectOne Bancorp by 792.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock worth $27,000 after buying an additional 1,030 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in ConnectOne Bancorp in the fourth quarter valued at approximately $62,000. KLP Kapitalforvaltning AS acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at about $149,000. Quantbot Technologies LP acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter worth approximately $205,000. Finally, Serenus Wealth Advisors LLC purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $209,000. Institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Price Performance

Shares of ConnectOne Bancorp stock traded up $0.42 during trading on Tuesday, hitting $23.21. 165,408 shares of the company were exchanged, compared to its average volume of 200,117. The stock has a market capitalization of $892.89 million, a price-to-earnings ratio of 13.11 and a beta of 1.12. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $22.97 and a 200 day moving average price of $24.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal 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 $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is 38.92%.

Wall Street Analyst Weigh In

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

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.