ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.
A number of other research firms also recently weighed in on CNOB. Keefe, Bruyette & Woods raised their target price on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Piper Sandler raised their target price on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Raymond James raised their target price on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.25.
Get Our Latest Research Report on CNOB
ConnectOne Bancorp Stock Up 1.6 %
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. The company had revenue of $66.03 million during the quarter, compared to the consensus estimate of $65.50 million. Analysts anticipate that ConnectOne Bancorp will post 1.76 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Denali Advisors LLC acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth about $590,000. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth about $1,685,000. Emerald Mutual Fund Advisers Trust lifted its stake in shares of ConnectOne Bancorp by 74.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 72,301 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 30,933 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in shares of ConnectOne Bancorp by 30.0% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 112,848 shares of the financial services provider’s stock worth $2,012,000 after buying an additional 26,055 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of ConnectOne Bancorp by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 49,600 shares of the financial services provider’s stock worth $884,000 after buying an additional 3,332 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.
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