ConnectOne Bancorp (NASDAQ:CNOB) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a sell rating to a hold rating in a research note released on Monday.

A number of other brokerages have also commented on CNOB. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price target (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler upped their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

ConnectOne Bancorp Trading Up 0.3 %

CNOB stock opened at $27.16 on Monday. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.02. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 15.61 and a beta of 1.25. The company has a fifty day moving average price of $25.40 and a two-hundred day moving average price of $22.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 41.38%.

Institutional Investors Weigh In On ConnectOne Bancorp

Large investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC lifted its position in ConnectOne Bancorp by 698.1% during the first quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock worth $13,197,000 after purchasing an additional 591,995 shares during the period. Wellington Management Group LLP bought a new stake in ConnectOne Bancorp during the 3rd quarter worth approximately $14,127,000. Stieven Capital Advisors L.P. acquired a new stake in ConnectOne Bancorp in the third quarter valued at $6,488,000. Thrivent Financial for Lutherans acquired a new stake in shares of ConnectOne Bancorp in the second quarter valued at about $1,648,000. Finally, American Century Companies Inc. raised its holdings in ConnectOne Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after purchasing an additional 85,437 shares during the last quarter. Institutional investors and hedge funds 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.