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 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.

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

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.