ConnectOne Bancorp (NASDAQ:CNOB) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

ConnectOne Bancorp (NASDAQ:CNOB)‘s stock had its “outperform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $24.00 target price on the financial services provider’s stock, down from their prior target price of $27.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 31.15% from the stock’s previous close.

CNOB has been the subject of a number of other research reports. StockNews.com downgraded shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Raymond James upped their price objective on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ConnectOne Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

ConnectOne Bancorp Price Performance

NASDAQ:CNOB opened at $18.30 on Friday. The firm has a market cap of $701.44 million, a price-to-earnings ratio of 9.68 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. The company’s 50-day moving average is $19.16 and its two-hundred day moving average is $20.08. ConnectOne Bancorp has a 12-month low of $13.11 and a 12-month high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $66.03 million for the quarter, compared to analyst estimates of $65.50 million. ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.41%. Research analysts expect that ConnectOne Bancorp will post 1.76 EPS for the current year.

Institutional Trading of ConnectOne Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of CNOB. Parallel Advisors LLC increased its position in ConnectOne Bancorp by 206.8% during 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 in the last quarter. Sound Income Strategies LLC acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $53,000. GAMMA Investing LLC acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $80,000. Quest Partners LLC acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $165,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds 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.