Hovde Group Issues Pessimistic Forecast for ConnectOne Bancorp (NASDAQ:CNOB) Stock Price

ConnectOne Bancorp (NASDAQ:CNOB) had its target price decreased by equities researchers at Hovde Group from $32.50 to $32.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 20.21% from the stock’s previous close.

CNOB has been the subject of several other reports. Piper Sandler initiated coverage on ConnectOne Bancorp in a report on Friday, November 7th. They set an “overweight” rating and a $28.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ConnectOne Bancorp in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded ConnectOne Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, ConnectOne Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

ConnectOne Bancorp Price Performance

Shares of NASDAQ CNOB opened at $26.62 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. ConnectOne Bancorp has a twelve month low of $20.61 and a twelve month high of $29.28. The business’s 50 day moving average price is $26.78 and its two-hundred day moving average price is $25.33. The company has a market cap of $1.34 billion, a PE ratio of 17.75 and a beta of 1.13.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. ConnectOne Bancorp had a return on equity of 9.59% and a net margin of 11.83%.The business had revenue of $114.63 million for the quarter, compared to analysts’ expectations of $114.80 million. On average, analysts predict that ConnectOne Bancorp will post 2.23 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in ConnectOne Bancorp by 275.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,471 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,079 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of ConnectOne Bancorp by 728.4% during the second quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,566 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ConnectOne Bancorp by 107.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,842 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 956 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of ConnectOne Bancorp in the third quarter worth $48,000. Finally, Russell Investments Group Ltd. grew its stake in shares of ConnectOne Bancorp by 791.0% in the third quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 4,042 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

Key Stories Impacting ConnectOne Bancorp

Here are the key news stories impacting ConnectOne Bancorp this week:

• Positive Sentiment: Q4 results beat on the bottom line: EPS $0.83 vs. $0.74 expected; net interest margin widened and the company reported continued asset growth including a ~$14B asset milestone and solid credit trends — supports earnings momentum. Press Release
• Positive Sentiment: Analyst upgrade: Keefe, Bruyette & Woods raised its price target to $32 and keeps an “Outperform” rating — implies roughly 20% upside from current levels and is supportive of the stock. Benzinga
• Positive Sentiment: Dividend declared: quarterly cash dividend of $0.18 per share (annualized yield ~2.6%), with record/ex-dividend dates announced — supports income-focused investors and reduces downside. Dividend/Release
• Neutral Sentiment: Analyst note with small trim: Hovde Group trimmed its price target to $32.00 from $32.50 but maintained an “Outperform” rating — a modest tweak rather than a bearish call.
• Neutral Sentiment: Revenue was essentially flat versus expectations ($114.63M reported vs. ~$114.8M consensus) — underlying business activity appears stable but not clearly accelerating. Earnings Summary
• Negative Sentiment: Market reaction: shares are trading down on the session despite the EPS beat — likely reflecting profit-taking and the market digesting mixed signals (earnings beat vs. revenue slight miss and only modest upside from some analysts).

ConnectOne Bancorp Company Profile

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.