ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,445 shares of the financial services provider's stock after selling 42,549 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.29% of ConnectOne Bancorp worth $2,507,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. First Trust Advisors LP lifted its holdings in ConnectOne Bancorp by 1.7% in the fourth quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 389 shares during the period. Sterling Capital Management LLC increased its stake 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 valued at $27,000 after purchasing an additional 1,030 shares in the last quarter. MetLife Investment Management LLC raised its holdings in ConnectOne Bancorp by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock worth $511,000 after purchasing an additional 1,202 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in ConnectOne Bancorp by 5.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,924 shares of the financial services provider's stock worth $915,000 after purchasing an additional 2,218 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in ConnectOne Bancorp in the fourth quarter valued at approximately $62,000. 67.70% of the stock is owned by institutional investors and hedge funds.

ConnectOne Bancorp Price Performance

Shares of CNOB stock traded down $0.56 during trading hours on Monday, hitting $22.41. 426,297 shares of the company's stock were exchanged, compared to its average volume of 202,853. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm has a market cap of $862.11 million, a P/E ratio of 12.66 and a beta of 1.12. The firm has a 50 day moving average of $22.86 and a two-hundred day moving average of $24.13. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. The business had revenue of $70.21 million during the quarter, compared to the consensus estimate of $67.90 million. Sell-side analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio is currently 38.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CNOB shares. Keefe, Bruyette & Woods reduced their target price on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Hovde Group upped their target price 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 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.