Mesirow Financial Investment Management Inc. Lowers Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Mesirow Financial Investment Management Inc. decreased its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 27.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,552 shares of the financial services provider’s stock after selling 4,093 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in ConnectOne Bancorp were worth $206,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in shares of ConnectOne Bancorp by 206.8% during the 4th quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after buying an additional 757 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of ConnectOne Bancorp in the 4th quarter worth about $53,000. GAMMA Investing LLC purchased a new position in ConnectOne Bancorp in the fourth quarter valued at approximately $80,000. Quest Partners LLC acquired a new position in shares of ConnectOne Bancorp during the 4th quarter valued at $165,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in shares of ConnectOne Bancorp during the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Down 3.3 %

Shares of CNOB traded down $0.63 during trading on Wednesday, reaching $18.59. The company’s stock had a trading volume of 76,029 shares, compared to its average volume of 166,977. The company has a market cap of $712.55 million, a price-to-earnings ratio of 10.17 and a beta of 1.27. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $18.89 and a two-hundred day moving average of $20.13. ConnectOne Bancorp, Inc. has a twelve month low of $14.51 and a twelve month high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.39%. The company had revenue of $64.15 million during the quarter, compared to analyst estimates of $63.93 million. On average, sell-side analysts predict that ConnectOne Bancorp, Inc. will post 1.66 EPS for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.18 per share. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, May 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.87%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 38.10%.

Analyst Ratings Changes

Several brokerages have issued reports on CNOB. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $22.00 price target (down from $24.00) on shares of ConnectOne Bancorp in a report on Friday, May 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.