BidaskClub Lowers ConnectOne Bancorp (NASDAQ:CNOB) to Sell
Several other equities research analysts have also issued reports on CNOB. Stephens raised ConnectOne Bancorp from an equal rating to an overweight rating and set a $27.00 price objective for the company in a research note on Tuesday, July 9th. Zacks Investment Research lowered ConnectOne Bancorp from a hold rating to a sell rating in a research note on Monday, August 5th. Finally, ValuEngine raised ConnectOne Bancorp from a strong sell rating to a sell rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $25.50.
Shares of ConnectOne Bancorp stock opened at $20.29 on Friday. The company’s 50 day moving average price is $22.25. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $25.60. The company has a market capitalization of $739.25 million, a price-to-earnings ratio of 9.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00.
The business also recently disclosed a dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a $0.09 dividend. This is a positive change from ConnectOne Bancorp’s previous dividend of $0.08. The ex-dividend date of this dividend was Friday, July 12th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 16.14%.
Large investors have recently bought and sold shares of the company. Quantamental Technologies LLC bought a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $34,000. Denali Advisors LLC purchased a new stake in shares of ConnectOne Bancorp in the second quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ConnectOne Bancorp by 103.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,521 shares of the financial services provider’s stock worth $80,000 after buying an additional 1,787 shares during the period. Bank of Montreal Can raised its holdings in shares of ConnectOne Bancorp by 163.9% in the second quarter. Bank of Montreal Can now owns 4,489 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,788 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of ConnectOne Bancorp by 11.2% in the fourth quarter. Legal & General Group Plc now owns 5,548 shares of the financial services provider’s stock worth $103,000 after buying an additional 561 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.
Featured Story: Do You Need a Fiduciary?
Receive News & Ratings for ConnectOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConnectOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.