Keefe, Bruyette & Woods Raises ConnectOne Bancorp (NASDAQ:CNOB) Price Target to $31.00

ConnectOne Bancorp (NASDAQ:CNOB) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $28.00 to $31.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 14.18% from the company’s previous close.

Separately, StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

ConnectOne Bancorp Stock Down 1.9 %

Shares of NASDAQ:CNOB opened at $27.15 on Wednesday. The firm has a 50 day simple moving average of $26.15 and a 200-day simple moving average of $23.11. ConnectOne Bancorp has a twelve month low of $17.07 and a twelve month high of $29.31. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 billion, a PE ratio of 15.60 and a beta of 1.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNOB. Vanguard Group Inc. boosted its stake in shares of ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after buying an additional 53,563 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ConnectOne Bancorp during the 3rd quarter valued at approximately $743,000. Thrivent Financial for Lutherans purchased a new stake in ConnectOne Bancorp during the 2nd quarter valued at approximately $1,648,000. Cornercap Investment Counsel Inc. lifted its position in ConnectOne Bancorp by 111.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock worth $1,047,000 after acquiring an additional 29,161 shares during the period. Finally, Stieven Capital Advisors L.P. purchased a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at approximately $6,488,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

About ConnectOne Bancorp

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.