ConnectOne Bancorp (NASDAQ:CNOB) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a market perform rating to an outperform rating in a report released on Wednesday, MarketBeat reports. They currently have $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $31.00.

ConnectOne Bancorp Trading Down 1.3 %

NASDAQ CNOB opened at $24.20 on Wednesday. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $29.31. 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’s fifty day moving average price is $24.74 and its 200-day moving average price is $25.02. The stock has a market cap of $928.65 million, a P/E ratio of 13.67 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. As a group, equities analysts forecast that ConnectOne Bancorp will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.18 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 annualized dividend and a yield of 2.98%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

Institutional Trading of ConnectOne Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in shares of ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,030 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $62,000. KLP Kapitalforvaltning AS purchased a new stake in ConnectOne Bancorp during the fourth quarter valued at $149,000. Quantbot Technologies LP bought a new position in ConnectOne Bancorp in the fourth quarter valued at about $205,000. Finally, Serenus Wealth Advisors LLC purchased a new position in ConnectOne Bancorp in the fourth quarter worth about $209,000. Institutional investors own 67.70% of the company’s stock.

About ConnectOne Bancorp

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.