Other research analysts also recently issued reports about the company. Zacks Investment Research raised ConnectOne Bancorp from a sell rating to a hold rating in a report on Wednesday. Stephens raised ConnectOne Bancorp from an equal rating to an overweight rating and set a $27.00 price target on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $25.50.
ConnectOne Bancorp stock traded up $0.17 during mid-day trading on Thursday, hitting $22.67. The company had a trading volume of 4,923 shares, compared to its average volume of 138,238. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $21.01 and its two-hundred day moving average price is $21.40. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $24.75. The company has a market capitalization of $774.58 million, a PE ratio of 10.17 and a beta of 0.94.
In other news, Director Stephen T. Boswell bought 10,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were bought at an average price of $20.47 per share, with a total value of $214,935.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank W. Baier bought 5,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the acquisition, the director now owns 82,233 shares of the company’s stock, valued at approximately $1,643,837.67. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 21,519 shares of company stock worth $327,766. Corporate insiders own 7.58% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CNOB. Quantamental Technologies LLC bought a new position in ConnectOne Bancorp in the second quarter valued at about $34,000. Denali Advisors LLC bought a new position in ConnectOne Bancorp in the second quarter valued at about $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ConnectOne Bancorp by 103.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,521 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 1,787 shares during the period. Bank of Montreal Can lifted its holdings in ConnectOne Bancorp by 163.9% in the second quarter. Bank of Montreal Can now owns 4,489 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,788 shares during the period. Finally, SG Americas Securities LLC bought a new position in ConnectOne Bancorp in the first quarter valued at about $116,000. 61.25% of the stock is currently owned by institutional investors.
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, and time and savings accounts.
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