BNP Paribas Financial Markets Sells 34,032 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

BNP Paribas Financial Markets decreased 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 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock worth $27,000 after acquiring an additional 1,030 shares during the last quarter. Aquatic Capital Management LLC bought a new position in ConnectOne Bancorp during the 4th quarter worth approximately $62,000. KLP Kapitalforvaltning AS acquired a new position in shares of ConnectOne Bancorp in the 4th quarter worth approximately $149,000. Quantbot Technologies LP bought a new stake in shares of ConnectOne Bancorp in the 4th quarter valued at $205,000. Finally, Serenus Wealth Advisors LLC bought a new stake in shares of ConnectOne Bancorp in the 4th quarter valued at $209,000. Institutional investors and hedge funds own 67.70% of the company's stock.

ConnectOne Bancorp Trading Down 0.5%

Shares of NASDAQ:CNOB traded down $0.11 during mid-day trading on Thursday, hitting $22.73. The company had a trading volume of 28,327 shares, compared to its average volume of 193,979. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. The firm has a fifty day moving average price of $22.95 and a 200 day moving average price of $24.29. The company has a market capitalization of $874.42 million, a PE ratio of 12.84 and a beta of 1.12.

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 for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $70.21 million for the quarter, compared to analyst estimates of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. As a group, research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. ConnectOne Bancorp's dividend payout ratio is presently 38.92%.

Analysts Set New Price Targets

Several research firms recently issued reports on CNOB. Keefe, Bruyette & Woods dropped their target price on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Hovde Group lifted their price objective on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock 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.