ConnectOne Bancorp (NASDAQ:CNOB) was upgraded by investment analysts at Stephens from an “equal” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a $27.00 price objective on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 17.44% from the company’s current price.
A number of other research firms have also issued reports on CNOB. BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. ConnectOne Bancorp has an average rating of “Hold” and an average price target of $25.50.
NASDAQ:CNOB traded up $0.22 during midday trading on Tuesday, reaching $22.99. 102,000 shares of the company traded hands, compared to its average volume of 112,620. ConnectOne Bancorp has a twelve month low of $17.07 and a twelve month high of $26.70. The stock has a market capitalization of $802.36 million, a price-to-earnings ratio of 10.31 and a beta of 0.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $21.89.
In other ConnectOne Bancorp news, EVP Elizabeth Magennis sold 1,556 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $22.07, for a total transaction of $34,340.92. Following the completion of the transaction, the executive vice president now owns 67,757 shares in the company, valued at approximately $1,495,396.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher J. Ewing sold 1,527 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $21.96, for a total value of $33,532.92. The disclosure for this sale can be found here. Insiders have sold a total of 9,823 shares of company stock valued at $215,622 in the last quarter. 7.58% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC acquired a new position in shares of ConnectOne Bancorp in the 2nd quarter worth approximately $323,000. Corrado Advisors LLC raised its holdings in shares of ConnectOne Bancorp by 226.4% in the 2nd quarter. Corrado Advisors LLC now owns 123,103 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 85,393 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of ConnectOne Bancorp in the 2nd quarter worth approximately $45,000. Marshall Wace North America L.P. raised its holdings in shares of ConnectOne Bancorp by 9.0% in the 1st quarter. Marshall Wace North America L.P. now owns 5,963 shares of the financial services provider’s stock worth $118,000 after buying an additional 494 shares in the last quarter. Finally, Banc Funds Co. LLC raised its holdings in shares of ConnectOne Bancorp by 10.1% in the 1st quarter. Banc Funds Co. LLC now owns 636,193 shares of the financial services provider’s stock worth $12,533,000 after buying an additional 58,340 shares in the last quarter. Institutional investors own 60.76% of the company’s stock.
About ConnectOne Bancorp
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.
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