ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,818 shares of the financial services provider's stock after acquiring an additional 61,165 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of ConnectOne Bancorp worth $5,746,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CNOB. Empowered Funds LLC boosted its stake in shares of ConnectOne Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 136,972 shares of the financial services provider's stock valued at $3,431,000 after purchasing an additional 6,968 shares during the period. Stieven Capital Advisors L.P. purchased a new position in shares of ConnectOne Bancorp during the third quarter worth approximately $6,488,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ConnectOne Bancorp during the third quarter valued at approximately $743,000. BNP Paribas Financial Markets boosted its holdings in shares of ConnectOne Bancorp by 13.7% in the third quarter. BNP Paribas Financial Markets now owns 55,284 shares of the financial services provider's stock valued at $1,385,000 after purchasing an additional 6,668 shares during the period. Finally, Banc Funds Co. LLC grew its stake in ConnectOne Bancorp by 1.0% in the third quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider's stock worth $12,252,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 67.70% of the company's stock.

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ConnectOne Bancorp Stock Down 1.4 %

Shares of CNOB traded down $0.35 during mid-day trading on Thursday, hitting $23.66. The company's stock had a trading volume of 61,868 shares, compared to its average volume of 182,163. The firm has a market capitalization of $908.08 million, a price-to-earnings ratio of 13.46 and a beta of 1.30. The company's 50-day moving average is $24.52 and its 200-day moving average is $25.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings results 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 return on equity of 6.77% and a net margin of 13.80%. 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 company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.18 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a yield of 3.04%. ConnectOne Bancorp's dividend payout ratio is presently 40.68%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

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.