ConnectOne Bancorp (NASDAQ:CNOB) Rating Lowered to Sell at StockNews.com

ConnectOne Bancorp (NASDAQ:CNOB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other research analysts have also commented on CNOB. Keefe, Bruyette & Woods lifted their price target on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Piper Sandler lifted their price target on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Raymond James lifted their price target on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ConnectOne Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

ConnectOne Bancorp Price Performance

CNOB opened at $18.46 on Wednesday. The company has a 50-day moving average of $19.21 and a 200-day moving average of $20.06. The company has a market capitalization of $707.57 million, a P/E 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 company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share 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 the consensus estimate of $65.50 million. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. Equities analysts expect that ConnectOne Bancorp will post 1.76 EPS for the current fiscal year.

Institutional Trading of ConnectOne Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC lifted its stake in shares of ConnectOne Bancorp by 13.0% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 80,296 shares of the financial services provider’s stock worth $1,840,000 after acquiring an additional 9,243 shares during the period. Parallel Advisors LLC lifted its stake 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 acquiring an additional 757 shares during the period. Quest Partners LLC acquired a new stake in shares of ConnectOne Bancorp in the 4th quarter worth approximately $165,000. Trexquant Investment LP lifted its stake 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 worth $503,000 after acquiring an additional 2,206 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ConnectOne Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,270,093 shares of the financial services provider’s stock worth $52,009,000 after acquiring an additional 58,277 shares during the period. 67.70% of the stock is owned by institutional investors and hedge funds.

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.