ConnectOne Bancorp (NASDAQ:CNOB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a sell rating to a hold rating in a research report report published on Wednesday morning.

CNOB has been the subject of a number of other research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConnectOne Bancorp has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Stock Up 14.9 %

Shares of ConnectOne Bancorp stock opened at $28.60 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp has a 12-month low of $17.07 and a 12-month high of $29.00. The company has a market cap of $1.10 billion, a P/E ratio of 16.44 and a beta of 1.25. The company’s fifty day simple moving average is $24.99 and its two-hundred day simple moving average is $21.96.

ConnectOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s payout ratio is 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC bought a new stake in shares of ConnectOne Bancorp in the 3rd quarter worth $53,000. Palouse Capital Management Inc. increased its holdings in ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,607 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in ConnectOne Bancorp in the 2nd quarter worth about $171,000. SG Americas Securities LLC purchased a new position in shares of ConnectOne Bancorp during the third quarter valued at approximately $246,000. Finally, Evergreen Capital Management LLC bought a new position in ConnectOne Bancorp during the second quarter valued at approximately $196,000. Institutional investors 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.