Keefe, Bruyette & Woods restated their outperform rating on shares of ConnectOne Bancorp (NASDAQ:CNOB – Free Report) in a report issued on Friday morning, Benzinga reports. They currently have a $24.00 target price on the financial services provider’s stock, down from their previous target price of $27.00.
Several other analysts have also weighed in on CNOB. Raymond James raised their price objective on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a strong-buy rating in a report on Monday, January 29th. StockNews.com downgraded shares of ConnectOne Bancorp from a hold rating to a sell rating in a research note on Wednesday, April 24th. Finally, Piper Sandler boosted their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an overweight rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $24.50.
Read Our Latest Research Report on CNOB
ConnectOne Bancorp Trading Down 0.2 %
ConnectOne Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.18 dividend. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, May 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.94%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 35.98%.
Institutional Investors Weigh In On ConnectOne Bancorp
Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in ConnectOne Bancorp during the first quarter worth about $381,000. Salzhauer Michael increased its position in ConnectOne Bancorp by 3.9% during the 1st quarter. Salzhauer Michael now owns 65,656 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 2,480 shares during the period. Pacific Ridge Capital Partners LLC raised its position in shares of ConnectOne Bancorp by 13.0% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 80,296 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 9,243 shares in the last quarter. Parallel Advisors LLC raised its stake in 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 in the last quarter. Finally, Quest Partners LLC bought a new stake in ConnectOne Bancorp during the fourth quarter worth about $165,000. Institutional investors and hedge funds own 67.70% of the company’s stock.
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.
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