ConnectOne Bancorp (NASDAQ:CNOB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a sell rating to a hold rating in a research note released on Monday morning.

CNOB has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 26th.

ConnectOne Bancorp Stock Down 1.1 %

ConnectOne Bancorp stock opened at $26.58 on Monday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.28 and a beta of 1.25. ConnectOne Bancorp has a fifty-two week low of $17.07 and a fifty-two week high of $29.02. The stock’s fifty day moving average is $25.51 and its two-hundred day moving average is $22.53. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is currently 41.38%.

Hedge Funds Weigh In On ConnectOne Bancorp

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 buying an additional 53,563 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $719,000 after purchasing an additional 1,535 shares in the last quarter. Kennedy Capital Management LLC increased its stake in 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 worth $13,197,000 after buying an additional 591,995 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in ConnectOne Bancorp by 196.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock worth $1,086,000 after buying an additional 40,334 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ConnectOne Bancorp by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after buying an additional 5,186 shares during the last quarter. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

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.