A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a strong sell rating to a hold rating in a research note on Tuesday, June 30th. Raymond James cut their price target on shares of ConnectOne Bancorp from $24.00 to $21.00 and set a strong-buy rating for the company in a research note on Friday, May 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $25.83.
Shares of CNOB opened at $14.02 on Friday. ConnectOne Bancorp has a 12 month low of $8.85 and a 12 month high of $26.50. The firm has a fifty day simple moving average of $14.96 and a 200 day simple moving average of $17.83. The stock has a market capitalization of $545.22 million, a price-to-earnings ratio of 7.42 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18.
In other ConnectOne Bancorp news, Director Frank Huttle III sold 80,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $15.55, for a total value of $1,244,000.00. Company insiders own 7.52% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new position in shares of ConnectOne Bancorp in the fourth quarter valued at about $67,000. Russell Investments Group Ltd. raised its position in shares of ConnectOne Bancorp by 558.4% in the first quarter. Russell Investments Group Ltd. now owns 7,585 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 6,433 shares during the period. Palouse Capital Management Inc. raised its position in shares of ConnectOne Bancorp by 19.6% in the first quarter. Palouse Capital Management Inc. now owns 10,966 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,800 shares during the period. Fort Sheridan Advisors LLC bought a new position in shares of ConnectOne Bancorp in the first quarter valued at about $159,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of ConnectOne Bancorp in the first quarter valued at about $178,000. 59.36% of the stock is currently owned by institutional investors.
ConnectOne Bancorp Company Profile
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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