ConnectOne Bancorp (NASDAQ:CNOB) Given New $31.00 Price Target at Keefe, Bruyette & Woods

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) had its price objective decreased by stock analysts at Keefe, Bruyette & Woods from $32.00 to $31.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 35.85% from the company's current price.

Separately, Hovde Group boosted their price target on ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a report on Thursday.

ConnectOne Bancorp Trading Up 1.9 %

Shares of NASDAQ:CNOB traded up $0.43 during trading hours on Friday, hitting $22.82. 297,938 shares of the company's stock traded hands, compared to its average volume of 198,069. ConnectOne Bancorp has a 1 year low of $17.07 and a 1 year high of $29.31. The business has a fifty day moving average price of $23.23 and a 200-day moving average price of $24.59. The firm has a market capitalization of $877.89 million, a P/E ratio of 12.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. The business had revenue of $70.21 million during the quarter, compared to analyst estimates of $67.90 million. Equities analysts expect that ConnectOne Bancorp will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On ConnectOne Bancorp

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in ConnectOne Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,294,385 shares of the financial services provider's stock worth $52,564,000 after buying an additional 8,595 shares in the last quarter. Vanguard Group Inc. raised its stake in ConnectOne Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider's stock worth $49,636,000 after buying an additional 19,348 shares in the last quarter. Geode Capital Management LLC raised its stake in ConnectOne Bancorp by 0.8% in the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider's stock worth $21,359,000 after buying an additional 6,880 shares in the last quarter. Bank of America Corp DE raised its stake in ConnectOne Bancorp by 23.2% in the fourth quarter. Bank of America Corp DE now owns 826,463 shares of the financial services provider's stock worth $18,934,000 after buying an additional 155,573 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in ConnectOne Bancorp by 6.9% in the fourth quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider's stock worth $17,680,000 after buying an additional 49,943 shares in the last quarter. Institutional investors 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.