GAMMA Investing LLC Grows Stock Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

GAMMA Investing LLC raised its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 2,738.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,289 shares of the financial services provider's stock after buying an additional 93,862 shares during the quarter. GAMMA Investing LLC owned about 0.25% of ConnectOne Bancorp worth $2,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stieven Capital Advisors L.P. boosted its position in shares of ConnectOne Bancorp by 96.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider's stock valued at $11,644,000 after acquiring an additional 249,265 shares during the last quarter. Bank of America Corp DE raised its stake in ConnectOne Bancorp by 23.2% in the fourth quarter. Bank of America Corp DE now owns 826,463 shares of the financial services provider's stock valued at $18,934,000 after purchasing an additional 155,573 shares in the last quarter. Earnest Partners LLC lifted its position in ConnectOne Bancorp by 42.4% during the fourth quarter. Earnest Partners LLC now owns 282,221 shares of the financial services provider's stock valued at $6,466,000 after purchasing an additional 84,028 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ConnectOne Bancorp by 32.3% in the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider's stock worth $5,746,000 after buying an additional 61,165 shares in the last quarter. Finally, Fourthstone LLC bought a new position in shares of ConnectOne Bancorp in the 4th quarter worth $1,322,000. Hedge funds and other institutional investors own 67.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNOB. Keefe, Bruyette & Woods dropped their price objective 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 upped their price objective on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a report on Thursday, April 24th.

ConnectOne Bancorp Trading Down 2.1%

NASDAQ:CNOB traded down $0.48 during trading hours on Tuesday, reaching $21.89. The company's stock had a trading volume of 259,300 shares, compared to its average volume of 211,154. The firm has a market capitalization of $842.11 million, a price-to-earnings ratio of 11.83 and a beta of 1.12. The firm has a 50-day simple moving average of $22.84 and a 200-day simple moving average of $23.79. ConnectOne Bancorp, Inc. has a 1 year low of $17.33 and a 1 year high of $29.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The firm had revenue of $70.21 million for the quarter, compared to analysts' expectations of $67.90 million. ConnectOne Bancorp had a return on equity of 7.05% and a net margin of 14.48%. Research analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a $0.18 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.29%. ConnectOne Bancorp's dividend payout ratio (DPR) is currently 38.92%.

ConnectOne Bancorp 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.