ConnectOne Bancorp (NASDAQ:CNOB) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of ConnectOne Bancorp (NASDAQ:CNOB) from a market perform rating to an outperform rating in a report published on Wednesday morning, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $31.00.

ConnectOne Bancorp Trading Down 1.3 %

NASDAQ:CNOB opened at $24.20 on Wednesday. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. The business has a fifty day moving average price of $24.74 and a 200-day moving average price of $25.02. The firm has a market capitalization of $928.65 million, a price-to-earnings ratio of 13.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Sell-side analysts forecast that ConnectOne Bancorp will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.98%. ConnectOne Bancorp’s payout ratio is currently 40.68%.

Institutional Trading of ConnectOne Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in ConnectOne Bancorp by 792.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,030 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of ConnectOne Bancorp in the fourth quarter valued at about $62,000. KLP Kapitalforvaltning AS bought a new position in shares of ConnectOne Bancorp in the fourth quarter worth about $149,000. Quantbot Technologies LP purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter worth about $205,000. Finally, Serenus Wealth Advisors LLC bought a new stake in ConnectOne Bancorp during the 4th quarter valued at approximately $209,000. 67.70% of the stock is currently owned by institutional investors.

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.