Hovde Group Forecasts Strong Price Appreciation for ConnectOne Bancorp (NASDAQ:CNOB) Stock

Key Points

• Hovde Group raised its price target on ConnectOne Bancorp to $34 and kept an "outperform" rating, implying roughly a 17.5% upside from the current share price.
• ConnectOne beat Q1 EPS expectations at $0.79 vs. $0.73, raised its quarterly dividend to $0.195 (≈2.7% yield), and cited a 12 bp net interest margin widening and ~10% annualized loan growth that support medium‑term earnings visibility.
• Offsetting factors include a modest revenue miss ($116.64M vs. $119.59M) and a quarter‑over‑quarter net income dip ($36.3M vs. $38.0M), which may temper investor enthusiasm despite the operational improvements.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) had its price target boosted by analysts at Hovde Group from $32.00 to $34.00 in a research report issued on Friday. The firm presently has an "outperform" rating on the financial services provider's stock. Hovde Group's price objective suggests a potential upside of 17.53% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of ConnectOne Bancorp in a research report on Monday, March 16th. They set an "overweight" rating and a $31.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ConnectOne Bancorp in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of ConnectOne Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of ConnectOne Bancorp from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $32.33.

ConnectOne Bancorp Stock Performance

CNOB opened at $28.93 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of 19.29 and a beta of 1.08. ConnectOne Bancorp has a twelve month low of $21.79 and a twelve month high of $29.28. The firm's 50-day moving average price is $27.05 and its 200 day moving average price is $26.36. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. ConnectOne Bancorp had a net margin of 11.83% and a return on equity of 9.33%. The company had revenue of $116.64 million during the quarter, compared to the consensus estimate of $119.59 million. As a group, sell-side analysts expect that ConnectOne Bancorp will post 3.18 EPS for the current fiscal year.

Institutional Trading of ConnectOne Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its stake in ConnectOne Bancorp by 195.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider's stock worth $35,000 after buying an additional 880 shares during the period. Osaic Holdings Inc. raised its stake in shares of ConnectOne Bancorp by 728.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 1,566 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of ConnectOne Bancorp in the 3rd quarter worth approximately $48,000. State of Wyoming purchased a new position in shares of ConnectOne Bancorp during the 4th quarter worth approximately $73,000. Finally, Farther Finance Advisors LLC boosted its position in shares of ConnectOne Bancorp by 129.1% during the 4th quarter. Farther Finance Advisors LLC now owns 3,475 shares of the financial services provider's stock worth $91,000 after purchasing an additional 1,958 shares during the period. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting ConnectOne Bancorp

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

• Positive Sentiment: Q1 EPS beat — ConnectOne reported $0.79 EPS vs. the $0.73 consensus (and $0.51 a year ago), which supports upward pressure on the share price. ConnectOne Bancorp (CNOB) Q1 Earnings Beat Estimates
• Positive Sentiment: Dividend hike — the board raised the common quarterly dividend to $0.195 (8.3% increase), implying a ~2.7% yield and an ex-dividend date of May 15; raises income investor interest. ConnectOne Bancorp, Inc. Reports First Quarter 2026 Results
• Positive Sentiment: Improving fundamentals — management highlighted a 12 bp widening in net interest margin, ~10% annualized loan growth, accelerating operating performance and higher tangible book value per share, which bolster medium‑term earnings visibility. ConnectOne Bancorp, Inc. Reports First Quarter 2026 Results
• Neutral Sentiment: Preferred dividend declared — a $0.3281 dividend was declared on a preferred series; relevant for capital structure but less impactful to common stock performance. ConnectOne Bancorp, Inc. 5.25 DP RT PFD A declares $0.3281 dividend
• Neutral Sentiment: More detail and call available — the company posted a press release and conference call transcript for investors to assess forward guidance and management commentary. Listen to Conference Call / Press Release
• Neutral Sentiment: Analyst note — Zacks published a metric-level review of Q1 results that investors can use to dig into drivers vs. estimates. ConnectOne (CNOB) Reports Q1 Earnings: What Key Metrics Have to Say
• Negative Sentiment: Revenue missed estimates — Q1 revenue was $116.64M vs. consensus $119.59M, a modest miss that may temper enthusiasm from some investors. ConnectOne Bancorp Q1 revenue and transcript
• Negative Sentiment: QoQ net income dip — net income available to common holders was $36.3M (Q1) vs. $38.0M (Q4), which suggests seasonality or short-term pressure despite strong YoY growth. ConnectOne Bancorp, Inc. Reports First Quarter 2026 Results

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.

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