StockNews.com cut shares of ConnectOne Bancorp (NASDAQ:CNOB – Free Report) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Raymond James boosted their target price on ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a strong-buy rating in a research note on Monday, January 29th. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $25.25.
ConnectOne Bancorp Stock Up 1.6 %
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $65.50 million. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. On average, equities research analysts predict that ConnectOne Bancorp will post 1.76 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ConnectOne Bancorp
A number of hedge funds have recently modified their holdings of CNOB. FMR LLC raised its stake in shares of ConnectOne Bancorp by 27.0% in the third quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock valued at $62,414,000 after buying an additional 743,209 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in ConnectOne Bancorp by 118.2% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 246,232 shares of the financial services provider’s stock worth $5,641,000 after purchasing an additional 133,384 shares during the period. Rosenthal Henry Capital Advisors Inc. purchased a new position in shares of ConnectOne Bancorp in the third quarter worth about $1,685,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of ConnectOne Bancorp in the third quarter valued at approximately $1,086,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ConnectOne Bancorp by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,270,093 shares of the financial services provider’s stock valued at $52,009,000 after buying an additional 58,277 shares in the last quarter. Institutional investors own 67.70% of the company’s stock.
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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