StockNews.com Upgrades ConnectOne Bancorp (NASDAQ:CNOB) to Hold

ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

A number of other research analysts have also issued reports on CNOB. Piper Sandler lifted their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 price target (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.33.

ConnectOne Bancorp Trading Down 5.9 %

NASDAQ:CNOB opened at $26.91 on Wednesday. The firm has a market cap of $1.03 billion, a PE ratio of 15.47 and a beta of 1.25. The stock has a fifty day moving average price of $25.04 and a 200 day moving average price of $21.99. ConnectOne Bancorp has a 12-month low of $17.07 and a 12-month high of $29.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

Institutional Trading of ConnectOne Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. increased its position in shares of ConnectOne Bancorp by 196.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock worth $1,086,000 after purchasing an additional 40,334 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of ConnectOne Bancorp during the second quarter worth about $1,648,000. Cornercap Investment Counsel Inc. increased its position in shares of ConnectOne Bancorp by 111.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock worth $1,047,000 after purchasing an additional 29,161 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of ConnectOne Bancorp by 19.8% during the first quarter. BNP Paribas Financial Markets now owns 48,504 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 8,026 shares in the last quarter. 67.70% of the stock is currently owned by institutional investors and hedge funds.

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.