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

Jane Street Group LLC cut its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 69.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNOB. Dimensional Fund Advisors LP raised its stake in shares of ConnectOne Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,294,385 shares of the financial services provider's stock worth $52,564,000 after purchasing an additional 8,595 shares during the last quarter. Vanguard Group Inc. grew its stake in ConnectOne Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider's stock valued at $49,636,000 after acquiring an additional 19,348 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ConnectOne Bancorp by 6.9% during the 4th quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider's stock worth $17,680,000 after acquiring an additional 49,943 shares during the period. Stieven Capital Advisors L.P. lifted its holdings in ConnectOne Bancorp by 96.2% in 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 acquiring an additional 249,265 shares during the last quarter. Finally, Boothbay Fund Management LLC lifted its holdings in shares of ConnectOne Bancorp by 14.6% in the 4th quarter. Boothbay Fund Management LLC now owns 288,363 shares of the financial services provider's stock worth $6,606,000 after acquiring an additional 36,690 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company's stock.

ConnectOne Bancorp Price Performance

CNOB stock traded down $0.06 on Thursday, reaching $22.61. The company had a trading volume of 104,387 shares, compared to its average volume of 204,758. The company's fifty day moving average is $22.80 and its 200 day moving average is $24.11. The company has a market cap of $869.92 million, a P/E ratio of 12.77 and a beta of 1.12. 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, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its quarterly 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. The firm had revenue of $70.21 million for the quarter, compared to analyst estimates of $67.90 million. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. On average, research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 3.18%. ConnectOne Bancorp's dividend payout ratio is presently 38.92%.

Wall Street Analyst Weigh In

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

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.