ConnectOne Bancorp (NASDAQ:CNOB) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

CNOB has been the subject of several other reports. Zacks Investment Research upgraded ConnectOne Bancorp from a sell rating to a hold rating in a research report on Wednesday, September 11th. Stephens upgraded ConnectOne Bancorp from an equal rating to an overweight rating and set a $27.00 price objective for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. ConnectOne Bancorp presently has an average rating of Hold and a consensus target price of $25.50.

Shares of ConnectOne Bancorp stock opened at $22.67 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. ConnectOne Bancorp has a 1 year low of $17.07 and a 1 year high of $24.70. The company has a market capitalization of $795.44 million, a P/E ratio of 10.17 and a beta of 0.94. The business has a 50 day moving average price of $21.01 and a 200 day moving average price of $21.41.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). ConnectOne Bancorp had a return on equity of 11.59% and a net margin of 27.54%. The company had revenue of $47.47 million for the quarter, compared to analyst estimates of $47.88 million. As a group, research analysts expect that ConnectOne Bancorp will post 2.25 EPS for the current fiscal year.

In other ConnectOne Bancorp news, Director Frank W. Baier purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was bought 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen T. Boswell purchased 10,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $20.47 per share, with a total value of $214,935.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,519 shares of company stock valued at $327,766 over the last 90 days. Insiders own 7.58% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in ConnectOne Bancorp in the 2nd quarter valued at $34,000. Denali Advisors LLC acquired a new position in ConnectOne Bancorp in the 2nd quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ConnectOne Bancorp by 103.1% in the 2nd 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 last quarter. Bank of Montreal Can raised its holdings in ConnectOne Bancorp by 163.9% in the 2nd 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in ConnectOne Bancorp in the 1st quarter valued at $116,000. Institutional investors own 61.25% of the company’s stock.

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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