BNP Paribas Financial Markets Decreases Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

BNP Paribas Financial Markets lowered its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 61.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and 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 approximately 0.06% of ConnectOne Bancorp worth $487,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake 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 valued at $27,000 after acquiring an additional 1,030 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of ConnectOne Bancorp during the 4th quarter worth about $62,000. KLP Kapitalforvaltning AS bought a new position in ConnectOne Bancorp during the 4th quarter valued at about $149,000. Quantbot Technologies LP purchased a new stake in ConnectOne Bancorp in the 4th quarter worth about $205,000. Finally, Serenus Wealth Advisors LLC purchased a new stake in ConnectOne Bancorp in the 4th quarter worth about $209,000. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Up 0.1%

Shares of CNOB traded up $0.03 during midday trading on Thursday, reaching $22.87. 195,118 shares of the stock were exchanged, compared to its average volume of 200,727. The company has a market capitalization of $879.81 million, a P/E ratio of 12.92 and a beta of 1.12. 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 52 week low of $17.07 and a 52 week high of $29.31. The company's 50 day moving average is $22.92 and its two-hundred day moving average is $24.25.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share 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 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's payout ratio is 38.92%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNOB. Hovde Group boosted their target price on ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

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.