ExodusPoint Capital Management LP Purchases 47,619 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

ExodusPoint Capital Management LP boosted its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 524.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,699 shares of the financial services provider’s stock after acquiring an additional 47,619 shares during the quarter. ExodusPoint Capital Management LP’s holdings in ConnectOne Bancorp were worth $1,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ConnectOne Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider’s stock valued at $49,636,000 after acquiring an additional 19,348 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in ConnectOne Bancorp in the fourth quarter valued at approximately $149,000. American Century Companies Inc. grew its stake in shares of ConnectOne Bancorp by 6.9% during 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 during the last quarter. Quantbot Technologies LP bought a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $205,000. Finally, Intech Investment Management LLC bought a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $414,000. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB opened at $22.62 on Thursday. The firm’s fifty day moving average price is $24.51 and its two-hundred day moving average price is $24.85. The stock has a market cap of $868.02 million, a PE ratio of 12.78 and a beta of 1.09. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.18%. ConnectOne Bancorp’s dividend payout ratio is 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 boosted their target price for the stock from $31.00 to $32.00 in a research note on Wednesday, March 26th.

About ConnectOne Bancorp

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.