ConnectOne Bancorp Inc. (CNOB) Price Target Increased to $26.00 by Analysts at FBR & Co
ConnectOne Bancorp Inc. (NASDAQ:CNOB) had its price target upped by research analysts at FBR & Co from $23.00 to $26.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. FBR & Co’s price target suggests a potential upside of 19.82% from the stock’s previous close.
Separately, Zacks Investment Research lowered shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th.
ConnectOne Bancorp (NASDAQ:CNOB) opened at 21.70 on Thursday. ConnectOne Bancorp has a 1-year low of $14.86 and a 1-year high of $22.20. The stock has a 50 day moving average price of $18.64 and a 200-day moving average price of $17.25. The firm has a market cap of $656.75 million, a P/E ratio of 15.39 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, October 12th. ConnectOne Bancorp’s payout ratio is presently 21.43%.
In other ConnectOne Bancorp news, Chairman Frank Sorrentino III sold 6,417 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $18.30, for a total value of $117,431.10. Following the completion of the sale, the chairman now directly owns 564,446 shares of the company’s stock, valued at approximately $10,329,361.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael W. Kempner sold 1,660 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $19.85, for a total transaction of $32,951.00. Following the completion of the sale, the director now directly owns 373,926 shares of the company’s stock, valued at $7,422,431.10. The disclosure for this sale can be found here. Insiders own 8.30% of the company’s stock.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank), a New Jersey-chartered commercial bank. The Company operates in community bank segment. The Bank offers a range of deposit and loan products, and services to the general public, small and middle-sized businesses, local professionals, and individuals residing, working and conducting business in its trade area.
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