ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 51.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,316 shares of the financial services provider's stock after selling 38,850 shares during the quarter. Prudential Financial Inc. owned about 0.10% of ConnectOne Bancorp worth $855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CNOB. Wellington Management Group LLP purchased a new position in ConnectOne Bancorp during the third quarter worth approximately $14,127,000. Stieven Capital Advisors L.P. increased its stake in shares of ConnectOne Bancorp by 96.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider's stock worth $11,644,000 after acquiring an additional 249,265 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of ConnectOne Bancorp by 52.8% during the 3rd 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 boosted its position in shares of 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 acquiring an additional 61,165 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at about $1,303,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Trading Down 1.0 %

CNOB stock traded down $0.22 during midday trading on Friday, hitting $20.95. 189,067 shares of the company's stock were exchanged, compared to its average volume of 194,732. ConnectOne Bancorp, Inc. has a 1-year low of $17.07 and a 1-year high of $29.31. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $803.94 million, a PE ratio of 11.84 and a beta of 1.09. The business has a 50-day simple moving average of $24.32 and a two-hundred day simple moving average of $24.80.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued 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 return on equity of 6.77% and a net margin of 13.80%. On average, sell-side analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio (DPR) is 40.68%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised shares of ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $31.00 to $32.00 in a research note on Wednesday, March 26th.

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.