FNY Investment Advisers LLC Trims Holdings in ConnectOne Bancorp Inc (CNOB)

FNY Investment Advisers LLC cut its holdings in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) by 58.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. FNY Investment Advisers LLC’s holdings in ConnectOne Bancorp were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Hennessy Advisors Inc. lifted its holdings in ConnectOne Bancorp by 3.5% during the 1st quarter. Hennessy Advisors Inc. now owns 295,000 shares of the financial services provider’s stock worth $5,812,000 after buying an additional 10,000 shares in the last quarter. Bell Rock Capital LLC acquired a new stake in ConnectOne Bancorp during the 1st quarter worth approximately $176,000. FCA Corp TX acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $124,000. MUFG Securities EMEA plc acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $1,066,000. Finally, Geode Capital Management LLC lifted its holdings in ConnectOne Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 347,755 shares of the financial services provider’s stock worth $6,423,000 after buying an additional 24,201 shares in the last quarter. Institutional investors own 60.39% of the company’s stock.

In other news, Director William Thompson sold 2,700 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $20.11, for a total value of $54,297.00. Following the sale, the director now directly owns 74,787 shares in the company, valued at approximately $1,503,966.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.67% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. ValuEngine lowered shares of ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, TheStreet upgraded shares of ConnectOne Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has an average rating of “Hold”.

Shares of CNOB opened at $20.54 on Friday. ConnectOne Bancorp Inc has a twelve month low of $17.07 and a twelve month high of $29.60. The firm has a market capitalization of $727.63 million, a PE ratio of 9.21 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. ConnectOne Bancorp had a net margin of 27.20% and a return on equity of 12.31%. The business had revenue of $41.68 million for the quarter, compared to analyst estimates of $43.01 million. Equities analysts expect that ConnectOne Bancorp Inc will post 2.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 16.14%.

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About ConnectOne Bancorp

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.

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Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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