ConnectOne Bancorp (NASDAQ:CNOB) Upgraded at Keefe, Bruyette & Woods

ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage presently has a $32.00 price objective on the financial services provider’s stock, up from their prior price objective of $31.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 34.85% from the stock’s previous close.

ConnectOne Bancorp Stock Down 1.5 %

ConnectOne Bancorp stock opened at $23.73 on Wednesday. ConnectOne Bancorp has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The firm has a market capitalization of $910.62 million, a PE ratio of 13.41 and a beta of 1.30. The company’s 50-day moving average is $24.65 and its 200-day moving average is $25.03. 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 (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Sell-side analysts anticipate that ConnectOne Bancorp will post 2.23 earnings per share for the current year.

Institutional Trading of ConnectOne Bancorp

A number of hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its holdings in ConnectOne Bancorp by 792.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,030 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $62,000. KLP Kapitalforvaltning AS bought a new position in shares of ConnectOne Bancorp during the fourth quarter worth approximately $149,000. Quantbot Technologies LP acquired a new stake in ConnectOne Bancorp during the 4th quarter worth approximately $205,000. Finally, Serenus Wealth Advisors LLC bought a new stake in ConnectOne Bancorp in the 4th quarter valued at $209,000. 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.