ConnectOne Bancorp (NASDAQ:CNOB) Releases Quarterly Earnings Results

ConnectOne Bancorp (NASDAQ:CNOB) posted its quarterly earnings results on Thursday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10, Zacks reports. ConnectOne Bancorp had a return on equity of 6.71% and a net margin of 13.56%.

ConnectOne Bancorp Price Performance

CNOB traded up $1.53 during midday trading on Thursday, reaching $25.36. 68,555 shares of the company’s stock were exchanged, compared to its average volume of 191,191. The firm has a market capitalization of $973.10 million, a price-to-earnings ratio of 14.56 and a beta of 1.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. The business has a 50-day simple moving average of $24.52 and a two-hundred day simple moving average of $24.51.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Keefe, Bruyette & Woods upped their price objective on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

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.