ConnectOne Bancorp (NASDAQ:CNOB) Upgraded by StockNews.com to Hold Rating

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

Several other research firms have also commented on CNOB. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler increased their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB opened at $24.89 on Wednesday. The firm has a market capitalization of $955.03 million, a PE ratio of 14.30 and a beta of 1.25. The business’s fifty day moving average price is $24.92 and its 200 day moving average price is $21.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $27.13.

Hedge Funds Weigh In On ConnectOne Bancorp

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its stake in ConnectOne Bancorp by 6.7% in the second quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 1,131 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ConnectOne Bancorp by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 1,535 shares in the last quarter. Principal Financial Group Inc. boosted its stake in ConnectOne Bancorp by 8.2% in the second quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,606 shares in the last quarter. Palouse Capital Management Inc. boosted its stake in ConnectOne Bancorp by 25.1% in the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. boosted its stake in shares of ConnectOne Bancorp by 2.1% during 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 period. Institutional investors and hedge funds 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.