Two Sigma Investments LP Decreases Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Two Sigma Investments LP cut its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 146,165 shares of the financial services provider's stock after selling 13,578 shares during the period. Two Sigma Investments LP owned about 0.38% of ConnectOne Bancorp worth $3,349,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CNOB. Sterling Capital Management LLC raised its position in shares of ConnectOne Bancorp by 792.3% in 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 last quarter. Aquatic Capital Management LLC purchased a new position in ConnectOne Bancorp during the fourth quarter worth about $62,000. KLP Kapitalforvaltning AS purchased a new position in ConnectOne Bancorp during the fourth quarter worth about $149,000. Quantbot Technologies LP purchased a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $205,000. Finally, Serenus Wealth Advisors LLC purchased a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $209,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Stock Performance

CNOB traded up $0.21 during trading on Tuesday, hitting $22.62. The stock had a trading volume of 365,414 shares, compared to its average volume of 203,728. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $870.19 million, a P/E ratio of 12.78 and a beta of 1.12. The company's 50-day moving average price is $22.83 and its 200 day moving average price is $24.12. ConnectOne Bancorp, Inc. has a twelve month low of $17.07 and a twelve month 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.80% and a return on equity of 6.77%. On average, equities research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.18%. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 38.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of 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 lifted their target price 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.

ConnectOne Bancorp Company 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.