Css LLC Il Invests $399,000 in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

CSS LLC IL acquired a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,433 shares of the financial services provider's stock, valued at approximately $399,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased 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 valued at $27,000 after purchasing an additional 1,030 shares during the period. Aquatic Capital Management LLC bought a new position in shares of ConnectOne Bancorp during the 4th quarter valued at $62,000. KLP Kapitalforvaltning AS purchased a new position in shares of ConnectOne Bancorp in the fourth quarter worth about $149,000. Quantbot Technologies LP bought a new stake in ConnectOne Bancorp in the fourth quarter valued at approximately $205,000. Finally, Serenus Wealth Advisors LLC bought a new stake in ConnectOne Bancorp in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 67.70% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CNOB shares. Hovde Group lifted their target price 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 dropped their target price 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.

ConnectOne Bancorp Trading Down 0.6%

NASDAQ:CNOB traded down $0.15 during trading hours on Wednesday, hitting $23.07. The company had a trading volume of 84,326 shares, compared to its average volume of 199,670. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average price of $22.96 and a 200 day moving average price of $24.30. The company has a market capitalization of $887.31 million, a PE ratio of 13.01 and a beta of 1.12. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. The company had revenue of $70.21 million for the quarter, compared to analysts' expectations of $67.90 million. On average, equities research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's payout ratio 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.