Renaissance Technologies LLC Grows Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Renaissance Technologies LLC boosted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 9.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 204,397 shares of the financial services provider's stock after buying an additional 17,310 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of ConnectOne Bancorp worth $4,683,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Stieven Capital Advisors L.P. boosted its position in ConnectOne Bancorp by 96.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider's stock worth $11,644,000 after acquiring an additional 249,265 shares during the last quarter. Franklin Resources Inc. lifted its holdings in ConnectOne Bancorp by 52.8% during the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider's stock valued at $6,262,000 after purchasing an additional 83,950 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ConnectOne Bancorp by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider's stock worth $5,746,000 after buying an additional 61,165 shares during the period. Raymond James Financial Inc. bought a new position in shares of ConnectOne Bancorp during the fourth quarter worth approximately $1,303,000. Finally, American Century Companies Inc. boosted its position in shares of ConnectOne Bancorp by 6.9% in the fourth quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider's stock valued at $17,680,000 after acquiring an additional 49,943 shares during the period. Institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Stock Down 1.8 %

NASDAQ:CNOB traded down $0.41 during trading hours on Friday, reaching $22.39. The company had a trading volume of 297,150 shares, compared to its average volume of 197,251. ConnectOne Bancorp, Inc. has a twelve month low of $17.07 and a twelve month high of $29.31. The firm has a market cap of $861.34 million, a price-to-earnings ratio of 12.65 and a beta of 1.09. The business's 50-day simple moving average is $23.30 and its two-hundred day simple moving average is $24.61. 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 (NASDAQ:CNOB - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $67.90 million. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's dividend payout ratio is presently 40.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNOB. Hovde Group increased their price target on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Friday.

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.