Fourthstone LLC Invests $1.32 Million in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Fourthstone LLC purchased a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,700 shares of the financial services provider's stock, valued at approximately $1,322,000. Fourthstone LLC owned approximately 0.15% of ConnectOne Bancorp at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Zacks Investment Management raised its position in shares of ConnectOne Bancorp by 35.1% in the fourth quarter. Zacks Investment Management now owns 12,504 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 3,251 shares during the period. Barclays PLC increased its stake in shares of ConnectOne Bancorp by 9.4% during the fourth quarter. Barclays PLC now owns 125,501 shares of the financial services provider's stock valued at $2,875,000 after buying an additional 10,793 shares during the period. Sterling Capital Management LLC boosted its position in ConnectOne Bancorp by 792.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 1,030 shares in the last quarter. Raymond James Financial Inc. purchased a new position in ConnectOne Bancorp during the fourth quarter valued at $1,303,000. Finally, Renaissance Technologies LLC increased its position in ConnectOne Bancorp by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 204,397 shares of the financial services provider's stock valued at $4,683,000 after buying an additional 17,310 shares in the last quarter. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Price Performance

Shares of NASDAQ CNOB traded up $0.63 during mid-day trading on Tuesday, hitting $22.01. 26,921 shares of the company's stock traded hands, compared to its average volume of 194,805. 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 company's 50-day moving average is $23.66 and its two-hundred day moving average is $24.68. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31. The company has a market capitalization of $846.72 million, a P/E ratio of 12.43 and a beta of 1.09.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities analysts anticipate 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 was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 40.68%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $31.00 to $32.00 in a research note on Wednesday, March 26th.

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.