ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

CNOB has been the subject of a number of other reports. Zacks Investment Research downgraded ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. TheStreet downgraded ConnectOne Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, December 19th. Finally, BidaskClub upgraded ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.33.

Shares of CNOB opened at $20.53 on Thursday. The firm has a market capitalization of $662.53 million, a P/E ratio of 9.21 and a beta of 0.87. ConnectOne Bancorp has a 52-week low of $17.07 and a 52-week high of $31.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $41.68 million during the quarter, compared to the consensus estimate of $43.01 million. ConnectOne Bancorp had a return on equity of 12.49% and a net margin of 27.20%. On average, sell-side analysts anticipate that ConnectOne Bancorp will post 2.23 earnings per share for the current fiscal year.

In other news, Director William Thompson sold 2,700 shares of ConnectOne Bancorp stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $20.11, for a total transaction of $54,297.00. Following the completion of the sale, the director now directly owns 74,787 shares in the company, valued at $1,503,966.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Huttle III sold 4,250 shares of ConnectOne Bancorp stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $20.02, for a total value of $85,085.00. Following the sale, the director now owns 194,849 shares of the company’s stock, valued at $3,900,876.98. The disclosure for this sale can be found here. 7.67% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of ConnectOne Bancorp by 6.1% during the second quarter. BlackRock Inc. now owns 1,878,862 shares of the financial services provider’s stock valued at $46,783,000 after buying an additional 107,680 shares during the period. Bank of America Corp DE increased its stake in shares of ConnectOne Bancorp by 25.3% during the second quarter. Bank of America Corp DE now owns 193,888 shares of the financial services provider’s stock valued at $4,828,000 after buying an additional 39,200 shares during the period. Millennium Management LLC increased its stake in shares of ConnectOne Bancorp by 61.6% during the second quarter. Millennium Management LLC now owns 282,953 shares of the financial services provider’s stock valued at $7,046,000 after buying an additional 107,863 shares during the period. California Public Employees Retirement System increased its stake in shares of ConnectOne Bancorp by 12.6% during the second quarter. California Public Employees Retirement System now owns 29,605 shares of the financial services provider’s stock valued at $737,000 after buying an additional 3,305 shares during the period. Finally, Northern Trust Corp increased its stake in shares of ConnectOne Bancorp by 0.8% during the second quarter. Northern Trust Corp now owns 368,200 shares of the financial services provider’s stock valued at $9,168,000 after buying an additional 3,033 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, and NOW accounts.

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