ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Given Consensus Rating of “Buy” by Analysts

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) has earned an average rating of “Buy” from the four research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.25.

Several equities research analysts recently weighed in on CNOB shares. Keefe, Bruyette & Woods increased their target price on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. 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, Raymond James boosted their price target on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th.

Institutional Trading of ConnectOne Bancorp

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in shares of ConnectOne Bancorp by 206.8% in the 4th quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 757 shares during the last quarter. Swiss National Bank increased its stake in shares of ConnectOne Bancorp by 1.2% in the 3rd quarter. Swiss National Bank now owns 81,900 shares of the financial services provider’s stock valued at $1,460,000 after acquiring an additional 1,000 shares during the last quarter. Trexquant Investment LP raised its position in shares of ConnectOne Bancorp by 11.2% in the 4th quarter. Trexquant Investment LP now owns 21,936 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 2,206 shares during the period. Sound Income Strategies LLC bought a new position in ConnectOne Bancorp during the 4th quarter worth approximately $53,000. Finally, Victory Capital Management Inc. grew its holdings in ConnectOne Bancorp by 7.2% during the third quarter. Victory Capital Management Inc. now owns 49,600 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 3,332 shares during the period. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB opened at $18.88 on Tuesday. The firm has a market capitalization of $723.67 million, a PE ratio of 9.12 and a beta of 1.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92. ConnectOne Bancorp has a 1 year low of $13.11 and a 1 year high of $24.44. The firm’s fifty day simple moving average is $19.26 and its 200 day simple moving average is $20.06.

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, beating the consensus estimate of $0.47 by $0.03. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. The company had revenue of $66.03 million for the quarter, compared to the consensus estimate of $65.50 million. On average, sell-side analysts anticipate that ConnectOne Bancorp will post 1.76 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Wednesday, February 14th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 32.85%.

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.