JPMorgan Chase & Co. Cuts Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

JPMorgan Chase & Co. decreased its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 840,502 shares of the financial services provider's stock after selling 57,620 shares during the period. JPMorgan Chase & Co. owned 2.19% of ConnectOne Bancorp worth $19,256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CNOB. Stifel Financial Corp increased its holdings in shares of ConnectOne Bancorp by 4.0% during the third quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider's stock valued at $2,296,000 after acquiring an additional 3,565 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of ConnectOne Bancorp during the third quarter valued at approximately $14,127,000. Jane Street Group LLC raised its holdings in ConnectOne Bancorp by 26.3% in the 3rd quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider's stock worth $1,121,000 after acquiring an additional 9,313 shares during the last quarter. Zacks Investment Management bought a new position in shares of ConnectOne Bancorp during the third quarter valued at $232,000. Finally, Barclays PLC grew its position in shares of ConnectOne Bancorp by 52.0% during the third quarter. Barclays PLC now owns 114,708 shares of the financial services provider's stock valued at $2,874,000 after purchasing an additional 39,249 shares in the last quarter. 67.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ConnectOne Bancorp Trading Down 0.5 %

Shares of NASDAQ:CNOB traded down $0.10 on Wednesday, hitting $21.46. 5,799 shares of the company's stock were exchanged, compared to its average volume of 193,989. The stock has a market capitalization of $823.47 million, a price-to-earnings ratio of 12.10 and a beta of 1.09. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. The business's 50 day simple moving average is $24.11 and its two-hundred day simple moving average is $24.76. 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 (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.36%. ConnectOne Bancorp's payout ratio is currently 40.68%.

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.