ConnectOne Bancorp (NASDAQ:CNOB) Raised to Hold at StockNews.com

ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other research firms also recently commented on CNOB. Piper Sandler lifted their price target on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th.

ConnectOne Bancorp Price Performance

CNOB stock traded up $0.07 on Monday, reaching $27.16. The company had a trading volume of 171,428 shares, compared to its average volume of 187,597. ConnectOne Bancorp has a 1 year low of $17.07 and a 1 year high of $29.02. The company has a market cap of $1.04 billion, a P/E ratio of 15.61 and a beta of 1.25. The company’s fifty day moving average is $25.40 and its 200 day moving average is $22.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CNOB. B. Riley Wealth Advisors Inc. raised its holdings in ConnectOne Bancorp by 196.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock valued at $1,086,000 after acquiring an additional 40,334 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ConnectOne Bancorp by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock valued at $41,802,000 after acquiring an additional 53,563 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in ConnectOne Bancorp during the second quarter valued at $1,648,000. Cornercap Investment Counsel Inc. lifted its position in shares of ConnectOne Bancorp by 111.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock worth $1,047,000 after acquiring an additional 29,161 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of ConnectOne Bancorp in the third quarter worth $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.