Geode Capital Management LLC Sells 10,139 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Geode Capital Management LLC trimmed its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 842,368 shares of the financial services provider’s stock after selling 10,139 shares during the period. Geode Capital Management LLC owned 2.20% of ConnectOne Bancorp worth $19,303,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Stieven Capital Advisors L.P. grew its position in shares of ConnectOne Bancorp by 96.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after purchasing an additional 249,265 shares in the last quarter. Franklin Resources Inc. boosted its stake in ConnectOne Bancorp by 52.8% in the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after purchasing an additional 83,950 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 61,165 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ConnectOne Bancorp during the fourth quarter valued at approximately $1,303,000. Finally, American Century Companies Inc. lifted its holdings in shares of ConnectOne Bancorp by 6.9% in the fourth quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider’s stock worth $17,680,000 after buying an additional 49,943 shares in the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

Shares of ConnectOne Bancorp stock opened at $21.56 on Friday. 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 12 month low of $17.07 and a 12 month high of $29.31. The stock has a 50 day moving average of $23.77 and a 200 day moving average of $24.70. The firm has a market cap of $829.41 million, a PE ratio of 12.18 and a beta of 1.09.

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

ConnectOne Bancorp Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.34%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

Wall Street Analysts Forecast Growth

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

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.