ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Receives $25.25 Average Price Target from Analysts

ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Free Report) has been given a consensus rating of “Buy” by the four research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $25.25.

Several equities research analysts have weighed in on CNOB shares. Piper Sandler upped their price target on ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods upped their target price on ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Raymond James increased their price objective on ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th.

Get Our Latest Stock Report on CNOB

Hedge Funds Weigh In On ConnectOne Bancorp

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in ConnectOne Bancorp by 13.3% during the 2nd quarter. BlackRock Inc. now owns 3,577,856 shares of the financial services provider’s stock valued at $59,357,000 after purchasing an additional 419,953 shares in the last quarter. FMR LLC boosted its stake in ConnectOne Bancorp by 27.0% during the 3rd quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock valued at $62,414,000 after purchasing an additional 743,209 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ConnectOne Bancorp by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,654,948 shares of the financial services provider’s stock valued at $46,939,000 after acquiring an additional 65,356 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of ConnectOne Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,090,143 shares of the financial services provider’s stock valued at $47,885,000 after acquiring an additional 44,565 shares during the last quarter. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ:CNOB opened at $19.50 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day moving average price is $20.48 and its 200-day moving average price is $19.98. The firm has a market capitalization of $748.80 million, a PE ratio of 9.42 and a beta of 1.25. ConnectOne Bancorp has a 1 year low of $13.11 and a 1 year high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOBGet Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. The company had revenue of $66.03 million for the quarter, compared to the consensus estimate of $65.50 million. As a group, equities research analysts expect that ConnectOne Bancorp will post 1.76 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, February 14th. ConnectOne Bancorp’s payout ratio is currently 32.85%.

About ConnectOne Bancorp

(Get Free Report

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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