ConnectOne Bancorp (NASDAQ:CNOB) had its price objective raised by Keefe, Bruyette & Woods from $18.50 to $19.50 in a research report issued to clients and investors on Friday, AnalystRatings.com reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 41.41% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. BidaskClub cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 11th. Raymond James lowered their price objective on shares of ConnectOne Bancorp from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 1st. Finally, Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.25.

NASDAQ CNOB opened at $13.79 on Friday. ConnectOne Bancorp has a twelve month low of $8.85 and a twelve month high of $26.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market cap of $547.53 million, a price-to-earnings ratio of 8.02 and a beta of 1.37. The firm’s 50 day moving average price is $14.46 and its two-hundred day moving average price is $16.83.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02). The business had revenue of $65.41 million during the quarter, compared to analyst estimates of $60.31 million. ConnectOne Bancorp had a return on equity of 9.22% and a net margin of 20.73%. On average, research analysts forecast that ConnectOne Bancorp will post 1.72 EPS for the current fiscal year.

In related news, Director Frank Huttle III sold 80,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $15.55, for a total value of $1,244,000.00. Insiders own 7.52% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Monarch Partners Asset Management LLC increased its position in ConnectOne Bancorp by 18.8% during the second quarter. Monarch Partners Asset Management LLC now owns 259,970 shares of the financial services provider’s stock worth $4,191,000 after buying an additional 41,055 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of ConnectOne Bancorp during the 2nd quarter worth about $1,683,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ConnectOne Bancorp by 60.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,667 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 2,146 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of ConnectOne Bancorp by 7.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,213 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 974 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of ConnectOne Bancorp by 186.1% in the 2nd quarter. First Trust Advisors LP now owns 55,408 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 36,044 shares in the last quarter. 59.36% of the stock is owned by institutional investors and hedge funds.

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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