ConnectOne Bancorp (NASDAQ:CNOB) Stock Rating Upgraded by Wall Street Zen

ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on CNOB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConnectOne Bancorp in a research note on Wednesday, October 8th. Piper Sandler assumed coverage on ConnectOne Bancorp in a report on Friday, November 7th. They set an “overweight” rating and a $28.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

ConnectOne Bancorp Trading Down 0.3%

NASDAQ CNOB opened at $26.85 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of 21.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50-day moving average is $25.40 and its 200-day moving average is $24.75. ConnectOne Bancorp has a one year low of $20.61 and a one year high of $28.47.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. ConnectOne Bancorp had a return on equity of 8.22% and a net margin of 9.90%.The business had revenue of $110.78 million during the quarter, compared to analyst estimates of $111.20 million. Sell-side analysts anticipate that ConnectOne Bancorp will post 2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConnectOne Bancorp

Several large investors have recently made changes to their positions in CNOB. HighTower Advisors LLC acquired a new position in ConnectOne Bancorp during the first quarter worth $281,000. Trexquant Investment LP acquired a new stake in ConnectOne Bancorp in the first quarter valued at $1,819,000. Quarry LP bought a new position in shares of ConnectOne Bancorp in the 1st quarter valued at about $88,000. EP Wealth Advisors LLC acquired a new position in shares of ConnectOne Bancorp during the 1st quarter worth about $213,000. Finally, AQR Capital Management LLC increased its stake in shares of ConnectOne Bancorp by 7.6% during the 1st quarter. AQR Capital Management LLC now owns 74,053 shares of the financial services provider’s stock worth $1,800,000 after purchasing an additional 5,205 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

About ConnectOne Bancorp

ConnectOne Bancorp is a New Jersey?based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium?sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner?occupied real estate loans and working capital lines of credit.