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.
Get Our Latest Stock Report on CNOB
ConnectOne Bancorp Company Profile
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Free Report)
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.
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