ConnectOne Bancorp (NASDAQ:CNOB) Hits New 52-Week High at $25.70

ConnectOne Bancorp Inc (NASDAQ:CNOB) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.70 and last traded at $25.70, with a volume of 837 shares trading hands. The stock had previously closed at $25.13.

Several equities analysts have recently issued reports on CNOB shares. Zacks Investment Research cut ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Stephens started coverage on ConnectOne Bancorp in a research note on Monday, October 28th. They set an “overweight” rating on the stock. BidaskClub cut ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Finally, ValuEngine cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $27.00.

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.12 and a quick ratio of 1.11. The stock has a market capitalization of $901.36 million, a PE ratio of 11.43 and a beta of 0.98. The company has a 50 day moving average price of $24.93 and a 200-day moving average price of $22.56.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. ConnectOne Bancorp had a return on equity of 11.43% and a net margin of 26.60%. The firm had revenue of $50.52 million for the quarter, compared to analysts’ expectations of $49.01 million. As a group, equities analysts anticipate that ConnectOne Bancorp Inc will post 2.28 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of ConnectOne Bancorp by 11.8% during the second quarter. BlackRock Inc. now owns 2,141,243 shares of the financial services provider’s stock valued at $48,522,000 after purchasing an additional 226,756 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ConnectOne Bancorp by 2.3% during the second quarter. Vanguard Group Inc. now owns 1,608,847 shares of the financial services provider’s stock valued at $36,457,000 after purchasing an additional 36,646 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ConnectOne Bancorp by 2.5% during the second quarter. Renaissance Technologies LLC now owns 1,084,516 shares of the financial services provider’s stock valued at $24,575,000 after purchasing an additional 26,940 shares in the last quarter. Investment Counselors of Maryland LLC boosted its position in shares of ConnectOne Bancorp by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 1,043,867 shares of the financial services provider’s stock valued at $23,654,000 after purchasing an additional 11,396 shares in the last quarter. Finally, State Street Corp boosted its position in shares of ConnectOne Bancorp by 3.2% during the third quarter. State Street Corp now owns 741,049 shares of the financial services provider’s stock valued at $16,451,000 after purchasing an additional 23,144 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

ConnectOne Bancorp Company Profile (NASDAQ:CNOB)

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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