Millennium Management LLC Makes New Investment in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Millennium Management LLC acquired a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,940 shares of the financial services provider’s stock, valued at approximately $503,000. Millennium Management LLC owned approximately 0.06% of ConnectOne Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew 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 acquiring an additional 39,249 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ConnectOne Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,623 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 722 shares in the last quarter. Salzhauer Michael grew its holdings in shares of ConnectOne Bancorp by 15.4% in the fourth quarter. Salzhauer Michael now owns 76,496 shares of the financial services provider’s stock valued at $1,753,000 after acquiring an additional 10,236 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of ConnectOne Bancorp by 64.8% in the fourth quarter. Deutsche Bank AG now owns 28,485 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 11,200 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $414,000. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Up 2.0%

CNOB opened at $23.02 on Monday. The stock has a market cap of $885.58 million, a PE ratio of 13.01 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The business’s fifty day simple moving average is $22.74 and its 200 day simple moving average is $24.02.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $70.21 million for the quarter, compared to analysts’ expectations of $67.90 million. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. As a group, research analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 3.13%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 38.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their target price on ConnectOne Bancorp from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Hovde Group upped their price objective on ConnectOne Bancorp from $29.00 to $29.50 and gave the company an “outperform” rating in a research note on Thursday, April 24th.

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.