Stieven Capital Advisors L.P. Purchases 14,717 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Stieven Capital Advisors L.P. boosted its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 522,982 shares of the financial services provider's stock after purchasing an additional 14,717 shares during the quarter. ConnectOne Bancorp accounts for about 2.5% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 17th biggest holding. Stieven Capital Advisors L.P. owned about 1.36% of ConnectOne Bancorp worth $12,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CNOB. Bank of New York Mellon Corp boosted its holdings in shares of ConnectOne Bancorp by 32.3% in the fourth quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider's stock valued at $5,746,000 after buying an additional 61,165 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of ConnectOne Bancorp by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider's stock valued at $1,191,000 after buying an additional 2,780 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $375,000. Raymond James Financial Inc. acquired a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $1,303,000. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of ConnectOne Bancorp by 30.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 29,279 shares of the financial services provider's stock valued at $671,000 after buying an additional 6,849 shares during the period. Institutional investors and hedge funds own 67.70% of the company's stock.

ConnectOne Bancorp Stock Down 1.9%

Shares of CNOB stock traded down $0.47 during trading on Friday, reaching $24.84. The company's stock had a trading volume of 252,514 shares, compared to its average volume of 217,311. The business has a fifty day moving average price of $23.42 and a 200-day moving average price of $23.57. 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 company has a market cap of $955.59 million, a price-to-earnings ratio of 13.43 and a beta of 1.10. ConnectOne Bancorp, Inc. has a one year low of $20.08 and a one year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $70.21 million for the quarter, compared to analyst estimates of $67.90 million. ConnectOne Bancorp had a net margin of 14.48% and a return on equity of 7.05%. Analysts anticipate 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 given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is currently 38.92%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNOB shares. Hovde Group upped their price target on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target 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.

About ConnectOne Bancorp

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.