ConnectOne Bancorp (NASDAQ:CNOB) Downgraded to "Sell" at StockNews.com

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Tuesday.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler lifted their price target on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.33.

ConnectOne Bancorp Stock Down 1.2 %

Shares of CNOB traded down $0.31 on Tuesday, hitting $24.56. The company's stock had a trading volume of 158,952 shares, compared to its average volume of 183,601. The firm's fifty day moving average price is $24.86 and its 200-day moving average price is $21.64. ConnectOne Bancorp has a fifty-two week low of $15.89 and a fifty-two week high of $27.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $941.46 million, a price-to-earnings ratio of 12.99 and a beta of 1.25.

Hedge Funds Weigh In On ConnectOne Bancorp

Large investors have recently bought and sold shares of the stock. Rosenthal Henry Capital Advisors Inc. increased its position in ConnectOne Bancorp by 2.1% in 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 buying an additional 1,800 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of ConnectOne Bancorp during the 3rd quarter worth $53,000. Palouse Capital Management Inc. increased its holdings 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 worth $201,000 after acquiring an additional 1,607 shares during the last quarter. Creative Planning lifted its holdings in ConnectOne Bancorp by 42.2% during the third quarter. Creative Planning now owns 48,064 shares of the financial services provider's stock valued at $1,204,000 after purchasing an additional 14,256 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ConnectOne Bancorp during the third quarter worth about $246,000. 67.70% of the stock is currently owned by institutional investors.

About ConnectOne Bancorp

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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