ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Given Average Rating of “Buy” by Brokerages

Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) have received an average recommendation of “Buy” from the four research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $25.00.

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler raised their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

Institutional Investors Weigh In On ConnectOne Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNOB. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 757 shares during the period. Quest Partners LLC purchased a new position in ConnectOne Bancorp during the fourth quarter valued at $165,000. Bryn Mawr Capital Management LLC bought a new stake in ConnectOne Bancorp in the 2nd quarter valued at $171,000. Evergreen Capital Management LLC purchased a new stake in ConnectOne Bancorp in the 2nd quarter worth $196,000. Finally, Hsbc Holdings PLC grew its position in shares of ConnectOne Bancorp by 6.7% during the second quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,131 shares in the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Trading Down 1.3 %

ConnectOne Bancorp stock opened at $24.74 on Friday. ConnectOne Bancorp has a 12 month low of $14.51 and a 12 month high of $26.53. The company has a market capitalization of $948.36 million, a price-to-earnings ratio of 13.09 and a beta of 1.25. The business’s fifty day simple moving average is $23.69 and its two-hundred day simple moving average is $20.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. ConnectOne Bancorp had a return on equity of 7.13% and a net margin of 14.56%. The business had revenue of $134.41 million for the quarter, compared to the consensus estimate of $64.62 million. During the same period last year, the business posted $0.51 EPS. As a group, equities analysts predict that ConnectOne Bancorp will post 1.76 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.91%. ConnectOne Bancorp’s payout ratio is currently 38.10%.

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.