ConnectOne Bancorp, Inc. (CNOB) – What Are Brokerages Thinking About This Stock?

Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) have been assigned a consensus recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $35.75.

CNOB has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of ConnectOne Bancorp in a research report on Monday, August 17th. Raymond James Financial raised ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Monday.

Institutional Investors Weigh In On ConnectOne Bancorp

A number of hedge funds have recently modified their holdings of CNOB. Sterling Capital Management LLC raised its stake in ConnectOne Bancorp by 45.4% during the third quarter. Sterling Capital Management LLC now owns 1,124 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 351 shares during the period. Nykredit A S acquired a new position in ConnectOne Bancorp in the 2nd quarter valued at about $39,000. Nisa Investment Advisors LLC boosted its holdings in ConnectOne Bancorp by 1,720.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,638 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,548 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $52,000. Finally, Integrated Wealth Concepts LLC purchased a new position in ConnectOne Bancorp in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Up 0.5%

Shares of ConnectOne Bancorp stock opened at $32.84 on Tuesday. The firm has a market capitalization of $1.65 billion, a PE ratio of 11.48 and a beta of 1.08. The firm’s 50-day moving average price is $31.30 and its 200 day moving average price is $29.90. ConnectOne Bancorp has a twelve month low of $23.20 and a twelve month high of $34.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.85 by $0.10. ConnectOne Bancorp had a return on equity of 11.96% and a net margin of 18.97%. The firm had revenue of $127.23 million during the quarter, compared to the consensus estimate of $125.36 million. On average, sell-side analysts predict that ConnectOne Bancorp will post 3.35 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $0.1950 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.4%. ConnectOne Bancorp’s payout ratio is presently 27.27%.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc is the parent company of ConnectOne Bank, a full-service commercial bank headquartered in Englewood Cliffs, New Jersey. The bank primarily serves businesses, entrepreneurs, professionals, nonprofit organizations and individuals in the New York metropolitan area and surrounding communities.

ConnectOne Bank provides a range of commercial and personal banking products, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans and consumer lending.