ConnectOne Bancorp (NASDAQ:CNOB) Given “Outperform” Rating at Keefe, Bruyette & Woods

ConnectOne Bancorp (NASDAQ:CNOB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Friday, Benzinga reports. They presently have a $24.00 target price on the financial services provider’s stock, down from their previous target price of $27.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 31.08% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Raymond James boosted their target price on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Piper Sandler upped their price target on ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, StockNews.com lowered ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConnectOne Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

ConnectOne Bancorp Trading Down 0.8 %

Shares of CNOB traded down $0.15 during mid-day trading on Friday, reaching $18.31. The stock had a trading volume of 8,682 shares, compared to its average volume of 171,313. ConnectOne Bancorp has a 52-week low of $13.11 and a 52-week high of $24.44. The firm has a market cap of $701.82 million, a price-to-earnings ratio of 8.85 and a beta of 1.25. The business’s fifty day moving average is $19.21 and its 200 day moving average is $20.06. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. The company had revenue of $66.03 million during the quarter, compared to the consensus estimate of $65.50 million. On average, sell-side analysts predict that ConnectOne Bancorp will post 1.76 EPS for the current fiscal year.

Institutional Trading of ConnectOne Bancorp

Institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in ConnectOne Bancorp by 27.0% in the 3rd quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock valued at $62,414,000 after purchasing an additional 743,209 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ConnectOne Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,270,093 shares of the financial services provider’s stock valued at $52,009,000 after purchasing an additional 58,277 shares during the last quarter. Vanguard Group Inc. raised its position in ConnectOne Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,045,578 shares of the financial services provider’s stock valued at $36,473,000 after purchasing an additional 14,564 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ConnectOne Bancorp by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,198 shares of the financial services provider’s stock valued at $10,039,000 after purchasing an additional 41,010 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in ConnectOne Bancorp by 118.2% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 246,232 shares of the financial services provider’s stock valued at $5,641,000 after purchasing an additional 133,384 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

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.