Deutsche Bank AG Acquires 11,200 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Deutsche Bank AG lifted its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,485 shares of the financial services provider's stock after buying an additional 11,200 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of ConnectOne Bancorp worth $653,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNOB. Sterling Capital Management LLC boosted its stake in ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock valued at $27,000 after buying an additional 1,030 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of ConnectOne Bancorp in the 4th quarter valued at about $62,000. KLP Kapitalforvaltning AS bought a new stake in shares of ConnectOne Bancorp during the 4th quarter valued at about $149,000. Quantbot Technologies LP purchased a new position in shares of ConnectOne Bancorp during the fourth quarter worth about $205,000. Finally, Serenus Wealth Advisors LLC purchased a new position in shares of ConnectOne Bancorp during the fourth quarter worth about $209,000. 67.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNOB has been the topic of a number of recent analyst reports. Hovde Group raised their target price on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Friday, April 25th.

ConnectOne Bancorp Price Performance

CNOB stock traded up $0.21 during mid-day trading on Friday, hitting $23.08. 399,230 shares of the stock were exchanged, compared to its average volume of 201,839. The business has a fifty day moving average price of $22.91 and a 200 day moving average price of $24.22. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. 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 market capitalization of $887.89 million, a price-to-earnings ratio of 13.04 and a beta of 1.12.

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 for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The company 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 6.77% and a net margin of 13.80%. On average, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 dividend yield of 3.12%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 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.