Analysts Set ConnectOne Bancorp, Inc. (NASDAQ:CNOB) PT at $25.25

Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) have been assigned a consensus rating of “Buy” from the four brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.50.

Several research firms have recently issued reports on CNOB. StockNews.com lowered ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Raymond James raised their target price on ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $24.00 price target (down from $27.00) on shares of ConnectOne Bancorp in a report on Friday. Finally, Piper Sandler raised their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, January 26th.

Hedge Funds Weigh In On ConnectOne Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in shares of ConnectOne Bancorp by 206.8% in the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 757 shares during the period. Sound Income Strategies LLC bought a new stake in ConnectOne Bancorp during the 4th quarter valued at $53,000. GAMMA Investing LLC purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $80,000. Quest Partners LLC bought a new position in shares of ConnectOne Bancorp in the fourth quarter worth $165,000. Finally, Bryn Mawr Capital Management LLC purchased a new position in shares of ConnectOne Bancorp in the fourth quarter valued at $207,000. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Down 0.2 %

Shares of CNOB stock opened at $18.26 on Tuesday. ConnectOne Bancorp has a 52-week low of $13.11 and a 52-week high of $24.44. The company has a 50-day simple moving average of $19.12 and a two-hundred day simple moving average of $20.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $699.91 million, a price-to-earnings ratio of 9.66 and a beta of 1.25.

ConnectOne Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a $0.18 dividend. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Tuesday, May 14th. ConnectOne Bancorp’s payout ratio is currently 35.98%.

ConnectOne Bancorp Company Profile

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.