ConnectOne Bancorp (NASDAQ:CNOB) Price Target Raised to $32.00

ConnectOne Bancorp (NASDAQ:CNOB) had its price target lifted by Keefe, Bruyette & Woods from $30.00 to $32.00 in a research note published on Friday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler assumed coverage on ConnectOne Bancorp in a report on Friday, November 7th. They set an “overweight” rating and a $28.00 price objective on the stock. Wall Street Zen lowered shares of ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of ConnectOne Bancorp in a report on Wednesday, January 21st. Finally, Hovde Group reduced their price objective on shares of ConnectOne Bancorp from $32.50 to $32.00 and set an “outperform” rating for the company in a research note on Friday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.67.

ConnectOne Bancorp Stock Down 3.6%

Shares of NASDAQ:CNOB opened at $26.62 on Friday. ConnectOne Bancorp has a fifty-two week low of $20.61 and a fifty-two week high of $29.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $26.78 and its 200-day simple moving average is $25.33. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 17.75 and a beta of 1.15.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. ConnectOne Bancorp had a net margin of 11.83% and a return on equity of 9.59%. The firm had revenue of $114.63 million during the quarter, compared to the consensus estimate of $114.80 million. As a group, equities research analysts predict that ConnectOne Bancorp will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, February 13th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 48.00%.

Institutional Trading of ConnectOne Bancorp

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in ConnectOne Bancorp by 275.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,471 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,079 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of ConnectOne Bancorp by 728.4% during the second quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,566 shares during the period. PNC Financial Services Group Inc. grew its stake in ConnectOne Bancorp by 107.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,842 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 956 shares during the period. State of Alaska Department of Revenue acquired a new position in ConnectOne Bancorp in the 3rd quarter valued at $48,000. Finally, Russell Investments Group Ltd. grew its position in shares of ConnectOne Bancorp by 791.0% in the third quarter. Russell Investments Group Ltd. now owns 4,553 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 4,042 shares during the period. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp News Roundup

Here are the key news stories impacting ConnectOne Bancorp this week:

• Positive Sentiment: Q4 results beat on the bottom line: EPS $0.83 vs. $0.74 expected; net interest margin widened and the company reported continued asset growth including a ~$14B asset milestone and solid credit trends — supports earnings momentum. Press Release
• Positive Sentiment: Analyst upgrade: Keefe, Bruyette & Woods raised its price target to $32 and keeps an “Outperform” rating — implies roughly 20% upside from current levels and is supportive of the stock. Benzinga
• Positive Sentiment: Dividend declared: quarterly cash dividend of $0.18 per share (annualized yield ~2.6%), with record/ex-dividend dates announced — supports income-focused investors and reduces downside. Dividend/Release
• Neutral Sentiment: Analyst note with small trim: Hovde Group trimmed its price target to $32.00 from $32.50 but maintained an “Outperform” rating — a modest tweak rather than a bearish call.
• Neutral Sentiment: Revenue was essentially flat versus expectations ($114.63M reported vs. ~$114.8M consensus) — underlying business activity appears stable but not clearly accelerating. Earnings Summary
• Negative Sentiment: Market reaction: shares are trading down on the session despite the EPS beat — likely reflecting profit-taking and the market digesting mixed signals (earnings beat vs. revenue slight miss and only modest upside from some analysts).

About ConnectOne Bancorp

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.