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

BNP Paribas Financial Markets reduced its stake in shares of 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 quarter. BNP Paribas Financial Markets owned 0.06% of ConnectOne Bancorp worth $487,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC grew its holdings in shares of ConnectOne Bancorp by 792.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock worth $27,000 after purchasing an additional 1,030 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of ConnectOne Bancorp in the 4th quarter valued at about $62,000. KLP Kapitalforvaltning AS bought a new position in shares of ConnectOne Bancorp in the 4th quarter valued at about $149,000. Quantbot Technologies LP bought a new position in shares of ConnectOne Bancorp in the 4th quarter valued at about $205,000. Finally, Serenus Wealth Advisors LLC bought a new position in ConnectOne Bancorp during the 4th quarter worth approximately $209,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Trading Down 0.9%

Shares of ConnectOne Bancorp stock traded down $0.22 on Wednesday, reaching $22.99. 115,269 shares of the company's stock were exchanged, compared to its average volume of 199,817. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The firm's 50-day moving average is $22.96 and its two-hundred day moving average is $24.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $884.43 million, a P/E ratio of 13.01 and a beta of 1.12.

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 analysts' consensus estimates of $0.46 by $0.05. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. The company had revenue of $70.21 million for the quarter, compared to analysts' expectations of $67.90 million. Sell-side analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 38.92%.

Wall Street Analyst Weigh In

Several brokerages have commented 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 boosted their target price on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research report on Thursday, April 24th.

About ConnectOne Bancorp

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.