ConnectOne Bancorp (NASDAQ:CNOB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “ConnectOne Bancorp, Inc. is a community-based, full-service commercial bank holding company. The Bank offers a range of lending, depository and related financial services to commercial, industrial and governmental customers. ConnectOne provides secured and unsecured loans, mortgage loans, home equity lines of credit, short and medium term loans, lines of credit, letters of credit, working capital loans, and real estate construction loans, as well as collection services, wire transfers, night depository, and lock box services. The Bank, through its subsidiary, provides financial services, including brokerage services, insurance and annuities, mutual funds and financial planning. It also offers various money market services. ConnectOne Bancorp, Inc., formerly known as Center Bancorp, Inc., is based in Englewood Cliffs, New Jersey. “

Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. TheStreet raised shares of ConnectOne Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, February 25th. Finally, ValuEngine raised shares of ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 7th. Three investment analysts have rated the stock with a sell rating and one has given a strong buy rating to the company’s stock. ConnectOne Bancorp currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Shares of NASDAQ:CNOB traded down $0.41 during trading on Thursday, hitting $19.84. 140,283 shares of the company’s stock were exchanged, compared to its average volume of 118,806. ConnectOne Bancorp has a 1-year low of $17.07 and a 1-year high of $30.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $736.50 million, a price-to-earnings ratio of 8.90 and a beta of 0.88.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. ConnectOne Bancorp had a net margin of 27.20% and a return on equity of 12.31%. The company had revenue of $41.68 million during the quarter, compared to analysts’ expectations of $43.01 million. Equities research analysts anticipate that ConnectOne Bancorp will post 2.22 earnings per share for the current year.

In related news, Director William Thompson sold 2,700 shares of ConnectOne Bancorp stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $20.11, for a total transaction of $54,297.00. Following the transaction, the director now owns 74,787 shares of the company’s stock, valued at approximately $1,503,966.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.67% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in ConnectOne Bancorp by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,175,725 shares of the financial services provider’s stock valued at $40,185,000 after buying an additional 140,515 shares in the last quarter. BlackRock Inc. lifted its stake in ConnectOne Bancorp by 9.3% in the fourth quarter. BlackRock Inc. now owns 2,075,570 shares of the financial services provider’s stock valued at $38,337,000 after buying an additional 177,091 shares in the last quarter. Vanguard Group Inc lifted its position in shares of ConnectOne Bancorp by 0.5% in the third quarter. Vanguard Group Inc now owns 1,424,388 shares of the financial services provider’s stock worth $33,830,000 after purchasing an additional 6,869 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ConnectOne Bancorp by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,424,388 shares of the financial services provider’s stock worth $33,830,000 after purchasing an additional 6,869 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of ConnectOne Bancorp by 3.2% in the third quarter. Brown Advisory Inc. now owns 1,305,024 shares of the financial services provider’s stock worth $30,994,000 after purchasing an additional 39,959 shares in the last quarter. 60.34% of the stock is currently owned by hedge funds and other institutional investors.

ConnectOne Bancorp Company Profile

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, and time and savings accounts.

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