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 report released on Wednesday.

Several other research analysts have also recently commented on CNOB. Piper Sandler raised their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock traded up $0.08 during trading hours on Wednesday, reaching $26.99. The company’s stock had a trading volume of 198,516 shares, compared to its average volume of 186,756. The stock has a market cap of $1.04 billion, a P/E ratio of 15.51 and a beta of 1.25. The company’s 50 day simple moving average is $25.08 and its 200 day simple moving average is $22.05. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid 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 yield of 2.67%. ConnectOne Bancorp’s payout ratio is 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Several large investors have recently made changes to their positions in CNOB. Kennedy Capital Management LLC increased its position in shares of ConnectOne Bancorp by 698.1% in the first quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock worth $13,197,000 after purchasing an additional 591,995 shares during the period. Stieven Capital Advisors L.P. acquired a new stake in ConnectOne Bancorp in the third quarter valued at about $6,488,000. Thrivent Financial for Lutherans acquired a new stake in shares of ConnectOne Bancorp during the second quarter valued at about $1,648,000. American Century Companies Inc. boosted its stake in shares of ConnectOne Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock valued at $11,969,000 after purchasing an additional 85,437 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of ConnectOne Bancorp by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after acquiring an additional 53,563 shares during the period. Institutional investors and hedge funds 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.