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

LSV Asset Management lowered its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 69.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,100 shares of the financial services provider’s stock after selling 67,200 shares during the period. LSV Asset Management owned about 0.08% of ConnectOne Bancorp worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp grew its stake in shares of ConnectOne Bancorp by 4.0% in the third 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 position in ConnectOne Bancorp by 26.3% during the third quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 9,313 shares during the period. Barclays PLC increased its holdings 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 during the last quarter. Geode Capital Management LLC raised its holdings in ConnectOne Bancorp by 0.8% in 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 acquiring an additional 6,880 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in ConnectOne Bancorp in the 3rd quarter valued at $305,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised shares of ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $31.00 to $32.00 in a report on Wednesday, March 26th.

ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock opened at $21.23 on Tuesday. The company has a 50 day moving average of $24.21 and a 200-day moving average of $24.79. 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, Inc. has a 1-year low of $17.07 and a 1-year high of $29.31. The company has a market cap of $814.68 million, a PE ratio of 11.99 and a beta of 1.09.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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, equities research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a yield of 3.39%. ConnectOne Bancorp’s dividend payout ratio is currently 40.68%.

ConnectOne Bancorp Company 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.