ExodusPoint Capital Management LP Boosts Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

ExodusPoint Capital Management LP raised its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 524.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,699 shares of the financial services provider's stock after purchasing an additional 47,619 shares during the period. ExodusPoint Capital Management LP owned approximately 0.15% of ConnectOne Bancorp worth $1,299,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of ConnectOne Bancorp in the third quarter worth $14,127,000. Stieven Capital Advisors L.P. lifted its stake in shares of 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 valued at $11,644,000 after buying an additional 249,265 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of ConnectOne Bancorp by 52.8% in the third quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider's stock worth $6,262,000 after acquiring an additional 83,950 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 valued at $5,746,000 after buying an additional 61,165 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ConnectOne Bancorp during the fourth quarter valued at $1,303,000. 67.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Trading Up 2.5 %

Shares of CNOB traded up $0.53 during midday trading on Tuesday, hitting $21.76. The stock had a trading volume of 31,761 shares, compared to its average volume of 194,128. The stock's 50 day moving average is $24.21 and its 200 day moving average is $24.79. The firm has a market cap of $834.83 million, a PE ratio of 12.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping 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%. As a group, analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio is currently 40.68%.

ConnectOne Bancorp 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.