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

StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOBFree Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

CNOB has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler increased their price target on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

Check Out Our Latest Research Report on CNOB

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $26.99 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 15.51 and a beta of 1.25. The firm has a 50-day moving average of $25.08 and a two-hundred day moving average of $22.07. ConnectOne Bancorp has a 1 year low of $17.07 and a 1 year high of $29.00.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed 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 2.67%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

A number of institutional investors have recently added to or reduced their stakes in CNOB. Kennedy Capital Management LLC increased its position in shares of ConnectOne Bancorp by 698.1% during the first quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock worth $13,197,000 after purchasing an additional 591,995 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in ConnectOne Bancorp in the third quarter valued at about $6,488,000. Thrivent Financial for Lutherans acquired a new stake in ConnectOne Bancorp in the second quarter worth about $1,648,000. American Century Companies Inc. boosted its holdings in ConnectOne Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after acquiring an additional 85,437 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after acquiring an additional 53,563 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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