ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 609,000 shares, a decrease of 7.1% from the September 15th total of 655,700 shares. Based on an average daily trading volume, of 213,300 shares, the short-interest ratio is currently 2.9 days. Approximately 1.7% of the company’s shares are short sold.
Analyst Ratings Changes
A number of research firms have recently weighed in on CNOB. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler increased their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ConnectOne Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.
Read Our Latest Report on ConnectOne Bancorp
Institutional Trading of ConnectOne Bancorp
ConnectOne Bancorp Stock Up 0.6 %
CNOB traded up $0.16 on Thursday, hitting $26.68. The company had a trading volume of 189,383 shares, compared to its average volume of 182,261. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp has a 52-week low of $14.51 and a 52-week high of $27.13. The stock has a fifty day simple moving average of $24.32 and a 200-day simple moving average of $21.24. The firm has a market capitalization of $1.02 billion, a P/E ratio of 14.03 and a beta of 1.25.
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. ConnectOne Bancorp had a net margin of 14.56% and a return on equity of 7.13%. The business had revenue of $134.41 million during the quarter, compared to analyst estimates of $64.62 million. During the same period last year, the business posted $0.51 earnings per share. As a group, equities analysts expect that ConnectOne Bancorp will post 1.78 EPS for the current fiscal year.
ConnectOne Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 2.70%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 38.10%.
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.
Recommended Stories
- Five stocks we like better than ConnectOne Bancorp
- What to Know About Investing in Penny Stocks
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- 3 REITs to Buy and Hold for the Long Term
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- Differences Between Momentum Investing and Long Term Investing
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for ConnectOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConnectOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.