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

ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $26.88 on Monday. The business has a fifty day moving average price of $25.46 and a 200-day moving average price of $22.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $1.03 billion, a P/E ratio of 15.45 and a beta of 1.25. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.02.

Institutional Trading of ConnectOne Bancorp

A number of institutional investors have recently made changes to their positions in CNOB. Geode Capital Management LLC increased its stake in shares of ConnectOne Bancorp by 0.8% in the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after buying an additional 6,880 shares during the period. Barclays PLC increased its position in shares of ConnectOne Bancorp by 52.0% in the third quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock valued at $2,874,000 after acquiring an additional 39,249 shares during the period. Zacks Investment Management bought a new position in shares of ConnectOne Bancorp during the third quarter valued at about $232,000. Jane Street Group LLC raised its stake in shares of ConnectOne Bancorp by 26.3% during the third quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 9,313 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp during the third quarter worth about $14,127,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

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.