Piper Sandler Boosts ConnectOne Bancorp (NASDAQ:CNOB) Price Target to $25.00

ConnectOne Bancorp (NASDAQ:CNOB) had its target price lifted by investment analysts at Piper Sandler from $22.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential downside of 0.32% from the company’s current price.

A number of other research analysts also recently weighed in on CNOB. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a report on Friday. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.00.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ:CNOB traded up $0.71 during midday trading on Friday, reaching $25.08. 11,025 shares of the company’s stock traded hands, compared to its average volume of 173,571. ConnectOne Bancorp has a one year low of $14.51 and a one year high of $25.53. The stock has a 50 day moving average of $19.40 and a 200 day moving average of $19.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $961.32 million, a price-to-earnings ratio of 13.17 and a beta of 1.27.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.39%. The firm had revenue of $64.15 million during the quarter, compared to the consensus estimate of $63.93 million. As a group, equities research analysts anticipate that ConnectOne Bancorp will post 1.66 EPS for the current fiscal year.

Institutional Trading of ConnectOne Bancorp

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in ConnectOne Bancorp by 206.8% during the 4th quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock valued at $26,000 after buying an additional 757 shares in the last quarter. GAMMA Investing LLC purchased a new position in ConnectOne Bancorp during the 4th quarter valued at approximately $80,000. Quest Partners LLC purchased a new position in ConnectOne Bancorp during the 4th quarter valued at approximately $165,000. Bryn Mawr Capital Management LLC purchased a new position in ConnectOne Bancorp during the 4th quarter valued at approximately $207,000. Finally, Certuity LLC purchased a new position in ConnectOne Bancorp during the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors 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.