Jane Street Group LLC Reduces Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Jane Street Group LLC cut its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 69.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,595 shares of the financial services provider's stock after selling 31,140 shares during the quarter. Jane Street Group LLC's holdings in ConnectOne Bancorp were worth $311,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stieven Capital Advisors L.P. increased its stake in shares of ConnectOne Bancorp by 96.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider's stock valued at $11,644,000 after buying an additional 249,265 shares during the period. Earnest Partners LLC grew its stake in ConnectOne Bancorp by 42.4% in 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 fourth quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider's stock valued at $5,746,000 after purchasing an additional 61,165 shares during the last quarter. Fourthstone LLC purchased a new position in ConnectOne Bancorp in the fourth quarter valued at about $1,322,000. Finally, Raymond James Financial Inc. purchased a new position in ConnectOne Bancorp in the fourth quarter valued at about $1,303,000. 67.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CNOB. Keefe, Bruyette & Woods cut their target price on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Hovde Group boosted their price target on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a research note on Thursday, April 24th.

ConnectOne Bancorp Stock Up 2.0%

Shares of CNOB stock traded up $0.46 during trading hours on Friday, reaching $23.02. 203,171 shares of the company's stock were exchanged, compared to its average volume of 206,590. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31. The stock has a market cap of $885.58 million, a PE ratio of 13.01 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. The stock's fifty day moving average price is $22.74 and its two-hundred day moving average price is $24.06.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.51 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 firm had revenue of $70.21 million during the quarter, compared to the consensus estimate of $67.90 million. Research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is 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.