ConnectOne Bancorp (NASDAQ:CNOB) Hits New 52-Week High – What’s Next?

ConnectOne Bancorp, Inc. (NASDAQ:CNOB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $29.02 and last traded at $28.83, with a volume of 25587 shares. The stock had previously closed at $28.26.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CNOB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Piper Sandler boosted their price target on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.07 billion, a P/E ratio of 16.36 and a beta of 1.25. The stock has a 50 day moving average of $25.22 and a 200-day moving average of $22.22.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at $53,000. Palouse Capital Management Inc. increased its holdings in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,607 shares during the period. Bryn Mawr Capital Management LLC purchased a new position in shares of ConnectOne Bancorp in the 2nd quarter valued at $171,000. SG Americas Securities LLC purchased a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at $246,000. Finally, Evergreen Capital Management LLC purchased a new position in ConnectOne Bancorp during the 2nd quarter worth $196,000. 67.70% of the stock is owned by institutional investors.

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.