Brokerages Set ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Price Target at $25.25

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) has been assigned an average rating of “Buy” from the four brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $25.25.

Several research firms have commented on CNOB. Raymond James boosted 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 report on Monday, January 29th. StockNews.com downgraded shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler raised their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods boosted their target price on ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, January 26th.

Institutional Trading of ConnectOne Bancorp

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of ConnectOne Bancorp by 16.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,188 shares of the financial services provider’s stock valued at $7,082,000 after purchasing an additional 55,682 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in ConnectOne Bancorp during the third quarter valued at $1,086,000. Swiss National Bank increased its holdings in ConnectOne Bancorp by 1.2% in the third quarter. Swiss National Bank now owns 81,900 shares of the financial services provider’s stock valued at $1,460,000 after buying an additional 1,000 shares in the last quarter. FMR LLC increased its holdings in ConnectOne Bancorp by 27.0% in the third quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock valued at $62,414,000 after buying an additional 743,209 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of ConnectOne Bancorp by 118.2% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 246,232 shares of the financial services provider’s stock worth $5,641,000 after acquiring an additional 133,384 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Down 6.4 %

Shares of CNOB opened at $18.46 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $707.57 million, a price-to-earnings ratio of 8.92 and a beta of 1.25. ConnectOne Bancorp has a 1 year low of $13.11 and a 1 year high of $24.44. The business’s 50 day simple moving average is $19.21 and its 200-day simple moving average is $20.06.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $66.03 million during the quarter, compared to analyst estimates of $65.50 million. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. As a group, equities analysts expect that ConnectOne Bancorp will post 1.76 earnings per share for the current fiscal year.

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.