ConnectOne Bancorp (CNOB) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a hold rating to a buy rating in a report issued on Wednesday.
Several other equities analysts have also commented on CNOB. Zacks Investment Research lowered shares of ConnectOne Bancorp from a strong-buy rating to a hold rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $36.00 price target on shares of ConnectOne Bancorp in a research report on Tuesday, February 27th. Finally, ValuEngine raised shares of ConnectOne Bancorp from a hold rating to a buy rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $31.83.
Shares of ConnectOne Bancorp (NASDAQ:CNOB) traded up $0.55 during mid-day trading on Wednesday, reaching $31.25. 133,514 shares of the company traded hands, compared to its average volume of 92,569. ConnectOne Bancorp has a 1 year low of $21.04 and a 1 year high of $31.35. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $1,002.25, a price-to-earnings ratio of 23.15 and a beta of 1.03.
In other news, EVP Laura Criscione sold 4,300 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $26.49, for a total value of $113,907.00. Following the completion of the sale, the executive vice president now owns 56,536 shares of the company’s stock, valued at $1,497,638.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Sorrentino III sold 5,848 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $26.49, for a total transaction of $154,913.52. Following the completion of the sale, the chief executive officer now directly owns 560,562 shares of the company’s stock, valued at approximately $14,849,287.38. The disclosure for this sale can be found here. Insiders sold 14,131 shares of company stock valued at $382,547 in the last three months. Company insiders own 7.63% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CNOB. SG Americas Securities LLC acquired a new stake in shares of ConnectOne Bancorp in the third quarter worth $112,000. Private Advisor Group LLC acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $258,000. Teacher Retirement System of Texas acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $270,000. Virginia Retirement Systems ET AL acquired a new stake in shares of ConnectOne Bancorp in the third quarter worth $293,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $357,000. 66.54% of the stock is owned by institutional investors.
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ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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