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 report issued on Monday.

A number of other research firms also recently weighed in on CNOB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Piper Sandler increased their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

ConnectOne Bancorp Stock Up 2.5 %

Shares of NASDAQ:CNOB opened at $27.25 on Monday. ConnectOne Bancorp has a 1 year low of $17.07 and a 1 year high of $29.02. The company has a market capitalization of $1.05 billion, a PE ratio of 15.66 and a beta of 1.25. The business has a fifty day moving average price of $25.56 and a two-hundred day moving average price of $22.56. 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 Dividend Announcement

The firm 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s payout ratio is currently 41.38%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of ConnectOne Bancorp by 0.8% in the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock valued at $21,359,000 after acquiring an additional 6,880 shares during the period. Barclays PLC lifted its stake in ConnectOne Bancorp by 52.0% in the 3rd quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 39,249 shares in the last quarter. Zacks Investment Management bought a new position in ConnectOne Bancorp in the 3rd quarter valued at $232,000. Jane Street Group LLC raised its position in shares of ConnectOne Bancorp by 26.3% in the third quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 9,313 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in ConnectOne Bancorp during the third quarter valued at $14,127,000. Institutional investors own 67.70% of the company’s stock.

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.