ConnectOne Bancorp (NASDAQ:CNOB) Rating Lowered to “Sell” at StockNews.com

StockNews.com cut shares of ConnectOne Bancorp (NASDAQ:CNOB) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Piper Sandler raised their price objective on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 price target (up from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $24.35 on Tuesday. The stock has a market cap of $934.31 million, a P/E ratio of 13.93 and a beta of 1.25. The company has a fifty day simple moving average of $24.94 and a 200-day simple moving average of $21.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp has a 12-month low of $16.59 and a 12-month high of $27.13.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $0.18 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.96%. ConnectOne Bancorp’s payout ratio is 41.38%.

Institutional Trading of ConnectOne Bancorp

A number of large investors have recently bought and sold shares of the business. Copeland Capital Management LLC acquired a new position in ConnectOne Bancorp in the third quarter valued at $53,000. Bryn Mawr Capital Management LLC purchased a new stake in ConnectOne Bancorp during the 2nd quarter valued at approximately $171,000. Evergreen Capital Management LLC acquired a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $196,000. Palouse Capital Management Inc. grew its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,607 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp in the third quarter valued at approximately $246,000. Institutional investors and hedge funds 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.