Millennium Management LLC Takes $503,000 Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Millennium Management LLC acquired a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,940 shares of the financial services provider's stock, valued at approximately $503,000. Millennium Management LLC owned approximately 0.06% of ConnectOne Bancorp as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNOB. Sterling Capital Management LLC boosted its holdings in 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 acquired a new position in shares of ConnectOne Bancorp during the 4th quarter valued at $62,000. KLP Kapitalforvaltning AS acquired a new stake in shares of ConnectOne Bancorp in the 4th quarter worth about $149,000. Quantbot Technologies LP bought a new stake in ConnectOne Bancorp in the 4th quarter worth about $205,000. Finally, Zacks Investment Management boosted its holdings in shares of ConnectOne Bancorp by 35.1% in the 4th quarter. Zacks Investment Management now owns 12,504 shares of the financial services provider's stock worth $286,000 after buying an additional 3,251 shares during the last quarter. 67.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNOB shares. Keefe, Bruyette & Woods decreased their price objective 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 increased 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.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock traded down $0.22 during midday trading on Thursday, reaching $23.08. 332,365 shares of the stock traded hands, compared to its average volume of 208,843. The stock's fifty day moving average is $22.78 and its 200-day moving average is $23.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. The stock has a market cap of $887.89 million, a P/E ratio of 13.04 and a beta of 1.12.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $67.90 million. As a group, equities research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.12%. ConnectOne Bancorp's dividend payout ratio 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.