Renaissance Technologies LLC Purchases 17,310 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Renaissance Technologies LLC raised its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 204,397 shares of the financial services provider's stock after acquiring an additional 17,310 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of ConnectOne Bancorp worth $4,683,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in ConnectOne Bancorp in the 4th quarter worth approximately $149,000. Quantbot Technologies LP bought a new position in ConnectOne Bancorp in the fourth quarter valued at about $205,000. Serenus Wealth Advisors LLC bought a new stake in shares of ConnectOne Bancorp during the 4th quarter valued at about $209,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at about $305,000. Finally, SG Americas Securities LLC boosted its holdings in shares of ConnectOne Bancorp by 52.5% in the fourth quarter. SG Americas Securities LLC now owns 14,992 shares of the financial services provider's stock worth $343,000 after buying an additional 5,158 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock traded down $0.56 during mid-day trading on Friday, hitting $22.25. The stock had a trading volume of 211,208 shares, compared to its average volume of 200,042. 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 firm's 50 day moving average is $23.39 and its 200 day moving average is $24.63. The firm has a market capitalization of $855.77 million, a P/E ratio of 12.57 and a beta of 1.09. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. The company had revenue of $70.21 million for the quarter, compared to the consensus estimate of $67.90 million. On average, sell-side analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 40.68%.

Analyst Ratings Changes

Several research analysts have weighed in on CNOB shares. Hovde Group increased their price target on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a research report on Thursday. Keefe, Bruyette & Woods cut their price target on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Friday.

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.