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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Get Free Report) 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.

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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.

Read Our Latest Research Report on ConnectOne Bancorp

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 - Get Free Report) 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

(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.

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