StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB - Free Report) from a sell rating to a hold rating in a report published on Wednesday morning.
CNOB has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler lifted their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.33.
Read Our Latest Research Report on CNOB
ConnectOne Bancorp Stock Performance
Shares of NASDAQ:CNOB traded up $3.73 during trading on Wednesday, hitting $28.62. The stock had a trading volume of 683,056 shares, compared to its average volume of 185,757. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp has a 12-month low of $17.07 and a 12-month high of $29.00. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 16.35 and a beta of 1.25. The stock has a 50-day simple moving average of $24.92 and a two-hundred day simple moving average of $21.91.
ConnectOne Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.18 dividend. 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 2.52%. ConnectOne Bancorp's payout ratio is currently 41.38%.
Hedge Funds Weigh In On ConnectOne Bancorp
Hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new position in ConnectOne Bancorp in the 3rd quarter valued at about $53,000. Bryn Mawr Capital Management LLC purchased a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $171,000. Evergreen Capital Management LLC acquired a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $196,000. Palouse Capital Management Inc. boosted its position in ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider's stock valued at $201,000 after buying an additional 1,607 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp in the third quarter worth $246,000. Hedge funds and other institutional investors own 67.70% of the company's stock.
ConnectOne Bancorp Company Profile
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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.
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