ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Sees Large Growth in Short Interest

ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 774,700 shares, an increase of 20.6% from the January 31st total of 642,500 shares. Based on an average daily volume of 199,700 shares, the short-interest ratio is presently 3.9 days. Currently, 2.2% of the company's shares are short sold.

ConnectOne Bancorp Trading Down 4.2 %

ConnectOne Bancorp stock traded down $1.01 during midday trading on Monday, hitting $22.97. 167,510 shares of the stock were exchanged, compared to its average volume of 183,410. ConnectOne Bancorp has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The stock has a market capitalization of $881.45 million, a price-to-earnings ratio of 12.98 and a beta of 1.30. The stock's 50-day simple moving average is $24.46 and its 200 day simple moving average is $25.13. 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 (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 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 will post 2.23 EPS for the current year.

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ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio is presently 40.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, November 18th. Keefe, Bruyette & Woods raised their price objective on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On ConnectOne Bancorp

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in shares of ConnectOne Bancorp by 1.7% during the fourth quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ConnectOne Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,623 shares of the financial services provider's stock valued at $472,000 after purchasing an additional 722 shares during the period. Sterling Capital Management LLC boosted its stake 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 purchasing an additional 1,030 shares during the period. MetLife Investment Management LLC boosted its stake in shares of ConnectOne Bancorp by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 1,202 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of ConnectOne Bancorp by 5.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 30,343 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 1,605 shares during the period. 67.70% of the stock is currently owned by institutional investors and hedge funds.

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.