Brokerages Set ConnectOne Bancorp, Inc. (NASDAQ:CNOB) PT at $35.00

ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) has been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $35.00.

A number of analysts recently weighed in on CNOB shares. Raymond James Financial restated a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Hovde Group upped their price target on ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Piper Sandler increased their price target on ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings raised ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th.

Get ConnectOne Bancorp alerts:

Read Our Latest Stock Report on ConnectOne Bancorp

Institutional Investors Weigh In On ConnectOne Bancorp

Institutional investors have recently modified their holdings of the company. Clearstead Advisors LLC increased its position in shares of ConnectOne Bancorp by 195.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock worth $35,000 after buying an additional 880 shares during the period. Osaic Holdings Inc. lifted its holdings in ConnectOne Bancorp by 728.4% in the second quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,566 shares during the period. State of Wyoming bought a new stake in ConnectOne Bancorp during the fourth quarter valued at $73,000. Farther Finance Advisors LLC grew its holdings in ConnectOne Bancorp by 129.1% during the 4th quarter. Farther Finance Advisors LLC now owns 3,475 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 1,958 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in ConnectOne Bancorp by 791.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 4,042 shares during the period. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Down 2.0%

NASDAQ:CNOB opened at $33.43 on Friday. ConnectOne Bancorp has a one year low of $22.07 and a one year high of $34.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $1.68 billion, a PE ratio of 19.32 and a beta of 1.05. The firm’s 50 day simple moving average is $31.47 and its 200 day simple moving average is $28.79.

ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The firm had revenue of $116.64 million during the quarter, compared to the consensus estimate of $119.59 million. ConnectOne Bancorp had a net margin of 13.21% and a return on equity of 10.17%. On average, research analysts anticipate that ConnectOne Bancorp will post 3.28 earnings per share for the current year.

ConnectOne Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, May 15th. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.18. ConnectOne Bancorp’s dividend payout ratio (DPR) is 45.09%.

About ConnectOne Bancorp

(Get Free Report)

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.

Featured Articles

• Five stocks we like better than ConnectOne Bancorp
• Netflix May Be Cheap Enough to Tempt Buyers After Earnings Drop
• Delta vs. United: Which Airline Is Better Built for Higher Fuel Costs?
• The Market Sold Alcoa After Earnings—But It May Be Missing the Real Story
• Why Intuitive Surgical’s Strong Quarter Still Spooked Investors

Receive News & Ratings for ConnectOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConnectOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.