ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Stock Has Average Price Target of $35.00

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

Several analysts recently commented on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of ConnectOne Bancorp in a report on Monday, August 17th. Finally, Piper Sandler increased their price target on shares of ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, June 26th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in shares of ConnectOne Bancorp during the second quarter worth $39,000. Allworth Financial LP bought a new stake in shares of ConnectOne Bancorp in the second quarter valued at about $52,000. Integrated Wealth Concepts LLC acquired a new position in shares of ConnectOne Bancorp in the second quarter valued at about $58,000. Quantbot Technologies LP acquired a new position in shares of ConnectOne Bancorp in the second quarter valued at about $73,000. Finally, First Bancorp Inc ME acquired a new position in shares of ConnectOne Bancorp in the second quarter valued at about $136,000. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Down 0.9%

CNOB stock opened at $30.18 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average price of $31.40 and a two-hundred day moving average price of $31.08. ConnectOne Bancorp has a one year low of $23.20 and a one year high of $34.14. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 9.90 and a beta of 1.08.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $122.77 million for the quarter, compared to analyst estimates of $121.55 million. ConnectOne Bancorp had a net margin of 20.21% and a return on equity of 11.24%. Equities analysts anticipate that ConnectOne Bancorp will post 3.35 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.1950 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.78 annualized dividend and a yield of 2.6%. ConnectOne Bancorp’s payout ratio is 25.57%.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc is the parent company of ConnectOne Bank, a full-service commercial bank serving businesses, professionals, nonprofit organizations and individuals. The bank provides lending, deposit and cash-management services, with a focus on relationship-based banking and customized financial solutions.

ConnectOne Bank offers commercial and residential real estate loans, commercial and industrial financing, construction lending, mortgages, personal loans, checking and savings accounts, treasury-management services, online and mobile banking, and wealth-management solutions.