ConnectOne Bancorp (NASDAQ:CNOB) Upgraded at StockNews.com

StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a sell rating to a hold rating in a research note published on Monday morning.

A number of other equities analysts also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 price target (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler increased their price target on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

ConnectOne Bancorp Price Performance

Shares of CNOB opened at $27.16 on Monday. The business’s fifty day moving average is $25.40 and its 200 day moving average is $22.42. ConnectOne Bancorp has a 12-month low of $17.07 and a 12-month high of $29.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.04 billion, a P/E ratio of 15.61 and a beta of 1.25.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.65%. ConnectOne Bancorp’s dividend payout ratio is presently 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after purchasing an additional 53,563 shares during the period. Geode Capital Management LLC boosted its holdings in ConnectOne Bancorp by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after buying an additional 6,880 shares during the period. Kennedy Capital Management LLC grew its stake in ConnectOne Bancorp by 698.1% in the 1st quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock valued at $13,197,000 after buying an additional 591,995 shares in the last quarter. American Century Companies Inc. raised its holdings in ConnectOne Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock valued at $11,969,000 after acquiring an additional 85,437 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp during the third quarter worth $14,127,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

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.