Keefe, Bruyette & Woods Cuts ConnectOne Bancorp (NASDAQ:CNOB) Price Target to $31.00

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) had its target price dropped by analysts at Keefe, Bruyette & Woods from $32.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 37.59% from the stock's current price.

Separately, Hovde Group boosted their target price on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a report on Thursday, April 24th.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB traded down $0.21 on Friday, hitting $22.53. 196,852 shares of the stock were exchanged, compared to its average volume of 202,932. The company has a market capitalization of $866.73 million, a PE ratio of 12.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The business's fifty day moving average is $23.16 and its 200 day moving average is $24.57. ConnectOne Bancorp has a 52 week low of $17.07 and a 52 week high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $70.21 million during the quarter, compared to the consensus estimate of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. Research analysts anticipate that ConnectOne Bancorp will post 2.23 EPS for the current fiscal year.

Institutional Trading of ConnectOne Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CNOB. First Trust Advisors LP lifted its stake in shares of ConnectOne Bancorp by 1.7% in the 4th quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 389 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of ConnectOne Bancorp by 16.8% during the first quarter. GAMMA Investing LLC now owns 4,002 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 575 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ConnectOne Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,623 shares of the financial services provider's stock valued at $472,000 after buying an additional 722 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 1,030 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of ConnectOne Bancorp by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock worth $511,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors and hedge funds 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.