Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for ConnectOne Bancorp (NASDAQ:CNOB)

ConnectOne Bancorp (NASDAQ:CNOB)‘s stock had its “market perform” rating restated by equities research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $26.00 price target on the financial services provider’s stock, up from their previous price target of $22.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 6.69% from the company’s previous close.

Separately, StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

ConnectOne Bancorp Trading Up 4.9 %

NASDAQ CNOB opened at $24.37 on Friday. ConnectOne Bancorp has a 12 month low of $14.51 and a 12 month high of $25.41. The company has a 50-day moving average of $19.40 and a 200-day moving average of $19.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $934.10 million, a P/E ratio of 12.89 and a beta of 1.27.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $64.15 million for the quarter, compared to analyst estimates of $63.93 million. ConnectOne Bancorp had a return on equity of 7.39% and a net margin of 15.29%. As a group, equities analysts predict that ConnectOne Bancorp will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On ConnectOne Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of ConnectOne Bancorp by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,270,093 shares of the financial services provider’s stock valued at $52,009,000 after buying an additional 58,277 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ConnectOne Bancorp by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock valued at $41,802,000 after buying an additional 53,563 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of ConnectOne Bancorp by 698.1% during 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 acquiring an additional 591,995 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ConnectOne Bancorp by 10.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,198 shares of the financial services provider’s stock valued at $10,039,000 after acquiring an additional 41,010 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of ConnectOne Bancorp by 118.2% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 246,232 shares of the financial services provider’s stock valued at $5,641,000 after acquiring an additional 133,384 shares in the last quarter. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

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.