LSV Asset Management Sells 67,200 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

LSV Asset Management reduced its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 69.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,100 shares of the financial services provider's stock after selling 67,200 shares during the period. LSV Asset Management owned 0.08% of ConnectOne Bancorp worth $690,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp lifted its stake in shares of ConnectOne Bancorp by 4.0% during the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider's stock valued at $2,296,000 after buying an additional 3,565 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of ConnectOne Bancorp by 26.3% in the third 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 period. Barclays PLC grew its position in shares of ConnectOne Bancorp by 52.0% in 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. Geode Capital Management LLC raised its stake in shares of ConnectOne Bancorp by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider's stock valued at $21,359,000 after purchasing an additional 6,880 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in ConnectOne Bancorp in the 3rd quarter worth about $305,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Price Performance

Shares of ConnectOne Bancorp stock traded up $0.16 during trading on Friday, hitting $21.56. The stock had a trading volume of 175,258 shares, compared to its average volume of 195,139. The firm has a market cap of $829.41 million, a price-to-earnings ratio of 12.18 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 moving average is $23.89 and its 200 day moving average is $24.72. 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 posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) 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, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend 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.