ConnectOne Bancorp (NASDAQ:CNOB) Downgraded to Sell Rating by StockNews.com

ConnectOne Bancorp (NASDAQ:CNOB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

CNOB has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued 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 boosted their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Trading Up 0.6 %

NASDAQ:CNOB opened at $24.71 on Tuesday. 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 business’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $21.69. ConnectOne Bancorp has a fifty-two week low of $16.11 and a fifty-two week high of $27.13. The stock has a market capitalization of $947.21 million, a PE ratio of 12.99 and a beta of 1.25.

Institutional Trading of ConnectOne Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in CNOB. Hsbc Holdings PLC boosted its holdings in ConnectOne Bancorp by 6.7% during the second quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 1,131 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ConnectOne Bancorp by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock worth $719,000 after buying an additional 1,535 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of ConnectOne Bancorp by 8.2% in the 2nd quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,606 shares in the last quarter. Palouse Capital Management Inc. increased its position in shares of ConnectOne Bancorp by 25.1% in the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its holdings in ConnectOne Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider’s stock worth $2,200,000 after acquiring an additional 1,800 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.