NASDAQ:CNOBConnectOne Bancorp Stock Price, Forecast & News

$15.38

+0.79 (+5.41 %)

(As of 06/3/2020 11:22 AM ET)

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Today's Range

$15.15

Now: $15.38▼

$15.38

50-Day Range

$11.48

MA: $13.76▼

$16.33

52-Week Range

$8.85

Now: $15.38▼

$26.50

Volume3,031 shs

Average Volume153,064 shs

Market Capitalization$610.74 million

P/E Ratio8.14

Dividend Yield2.47%

Beta1.32

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. It also provides personal and commercial business loans on a secured and unsecured basis; revolving lines of credit; commercial mortgage loans; residential mortgages on primary and secondary residences; home equity loans; bridge loans; and other personal purpose loans. In addition, the company offers credit cards, wire transfers, access to automated teller services, Internet banking, treasury direct, ACH origination, lockbox, mobile banking by phone, safe deposit box, and remote deposit capture services. As of January 24, 2019, the company offered its commercial and consumer banking and lending services and products through its 29 banking offices located in New York and New Jersey. It serves small-to-medium sized businesses, high net worth individuals, professional practices, and consumer and retail clients. The company was formerly known as Center Bancorp, Inc. and changed its name to ConnectOne Bancorp, Inc. in July 2014. ConnectOne Bancorp, Inc. was incorporated in 1982 and is headquartered in Englewood Cliffs, New Jersey.

Beat the Market (BTM) Rank^™

3.8 Analyst's Opinion

Consensus Rating
ConnectOne Bancorp has received a consensus rating of Strong Buy. The company's average rating score is 3.50, and is based on 1 buy rating, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $25.25, ConnectOne Bancorp has a potential upside of 64.2% from its current price of $15.38.
Amount of Analyst Coverage
ConnectOne Bancorp has only been the subject of 1 research reports in the past 90 days.

2.1 Community Rank

Outperform Votes
ConnectOne Bancorp has received 228 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
ConnectOne Bancorp has received 304 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
ConnectOne Bancorp has received 57.14% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about ConnectOne Bancorp and other stocks. Vote “Outperform” if you believe CNOB will outperform the S&P 500 over the long term. Vote “Underperform” if you believe CNOB will underperform the S&P 500 over the long term. You may vote once every thirty days.

3.3 Dividend Strength

Dividend Leadership
ConnectOne Bancorp is a leading dividend payer. It pays a dividend yield of 2.47%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
ConnectOne Bancorp has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of ConnectOne Bancorp is 16.00 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, ConnectOne Bancorp will have a dividend payout ratio of 20.81 % next year. This indicates that ConnectOne Bancorp will be able to sustain or increase its dividend.

4.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, ConnectOne Bancorp insiders have bought more of their company's stock than they have sold. Specifically, they have bought $116,066.00 in company stock and sold $0.00 in company stock.
Percentage Held by Insiders
Only 7.52% of the stock of ConnectOne Bancorp is held by insiders.
Percentage Held by Institutions
60.25% of the stock of ConnectOne Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9 Earnings and Valuation

Earnings Growth
Earnings for ConnectOne Bancorp are expected to decrease by -9.90% in the coming year, from $1.92 to $1.73 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of ConnectOne Bancorp is 8.14, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 15.96.
Price to Earnings Ratio vs. Sector
The P/E ratio of ConnectOne Bancorp is 8.14, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.43.
Price to Book Value per Share Ratio
ConnectOne Bancorp has a P/B Ratio of 0.74. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

3.01 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry State commercial banks

Sub-IndustryN/A

SectorFinance

Current SymbolNASDAQ:CNOB

Previous Symbol

CUSIPN/A

CIK712771

Webwww.connectonebank.com

Phone201-816-8900

Debt

Debt-to-Equity Ratio0.18

Current Ratio1.01

Quick Ratio1.00

Price-To-Earnings

Trailing P/E Ratio8.14

Forward P/E Ratio8.01

P/E GrowthN/A

Sales & Book Value

Annual Sales$279.52 million

Price / Sales2.18

Cash Flow$2.47 per share

Price / Cash Flow6.22

Book Value$20.67 per share

Price / Book0.74

Profitability

EPS (Most Recent Fiscal Year)$2.25

Net Income$73.39 million

Net Margins23.20%

Return on Equity10.15%

Return on Assets1.19%

Miscellaneous

EmployeesN/A

Outstanding Shares39,710,000

Market Cap$610.74 million

Next Earnings Date7/23/2020 (Estimated)

OptionableOptionable

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ConnectOne Bancorp (NASDAQ:CNOB) Frequently Asked Questions

How has ConnectOne Bancorp's stock been impacted by COVID-19 (Coronavirus)?

ConnectOne Bancorp's stock was trading at $16.69 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, CNOB stock has decreased by 7.8% and is now trading at $15.38. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of ConnectOne Bancorp?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ConnectOne Bancorp in the last year. There are currently 1 buy rating and 1 strong buy rating for the stock, resulting in a consensus recommendation of "Strong Buy." View analyst ratings for ConnectOne Bancorp.

When is ConnectOne Bancorp's next earnings date?

ConnectOne Bancorp is scheduled to release its next quarterly earnings announcement on Thursday, July 23rd 2020. View our earnings forecast for ConnectOne Bancorp.

How were ConnectOne Bancorp's earnings last quarter?

ConnectOne Bancorp Inc (NASDAQ:CNOB) posted its quarterly earnings data on Thursday, April, 30th. The financial services provider reported $0.15 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.39 by $0.24. The financial services provider had revenue of $58.14 million for the quarter, compared to analyst estimates of $56.62 million. ConnectOne Bancorp had a return on equity of 10.15% and a net margin of 23.20%. View ConnectOne Bancorp's earnings history.

How often does ConnectOne Bancorp pay dividends? What is the dividend yield for ConnectOne Bancorp?

ConnectOne Bancorp announced a quarterly dividend on Wednesday, April 15th. Stockholders of record on Monday, April 27th will be given a dividend of $0.09 per share on Monday, May 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, April 24th. View ConnectOne Bancorp's dividend history.

What price target have analysts set for CNOB?

2 equities research analysts have issued 12 month price targets for ConnectOne Bancorp's stock. Their forecasts range from $21.00 to $29.50. On average, they expect ConnectOne Bancorp's stock price to reach $25.25 in the next year. This suggests a possible upside of 64.2% from the stock's current price. View analysts' price targets for ConnectOne Bancorp.

Has ConnectOne Bancorp been receiving favorable news coverage?

News headlines about CNOB stock have been trending neutral this week, according to InfoTrie. The research firm identifies negative and positive press coverage by reviewing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores closest to five being the most favorable. ConnectOne Bancorp earned a media sentiment score of 0.2 on InfoTrie's scale. They also gave news articles about the financial services provider a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an impact on the stock's share price in the next several days. View the latest news aboutConnectOne Bancorp.

Who are some of ConnectOne Bancorp's key competitors?

Some companies that are related to ConnectOne Bancorp include Independent Bank (INDB), IBERIABANK (IBKC), Bancorpsouth Bank (BXS), First Hawaiian (FHB), Associated Banc (ASB), Investors Bancorp (ISBC), Cathay General Bancorp (CATY), First Interstate Bancsystem (FIBK), International Bancshares (IBOC), ServisFirst Bancshares (SFBS), South State (SSB), Columbia Banking System (COLB), Ameris Bancorp (ABCB), Hilltop (HTH) and Independent Bank Group (IBTX). View all competitors.

What other stocks do shareholders of ConnectOne Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some companies that other ConnectOne Bancorp investors own include Exxon Mobil (XOM), AbbVie (ABBV), Harley-Davidson (HOG), Altria Group (MO), Netflix (NFLX), PepsiCo (PEP), Tc Pipelines (TRP), Wells Fargo & Co (WFC), Apple Hospitality REIT (APLE) and Biogen (BIIB).

Who are ConnectOne Bancorp's key executives?

ConnectOne Bancorp's management team includes the following people:

Mr. Frank S. Sorrentino III, Chairman & CEO (Age 57)
Mr. William S. Burns, Exec. VP & CFO (Age 59)
Mr. Christopher J. Ewing, Exec. VP & COO (Age 59)
Mr. Michael J. McGrover, First Sr. VP & Chief Credit Officer
Ms. Elizabeth Magennis, Exec. VP & Chief Lending Officer (Age 49)

What is ConnectOne Bancorp's stock symbol?

ConnectOne Bancorp trades on the NASDAQ under the ticker symbol "CNOB."

Who are ConnectOne Bancorp's major shareholders?

ConnectOne Bancorp's stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (6.43%), Investment Counselors of Maryland LLC (2.68%), Castine Capital Management LLC (2.03%), State Street Corp (1.91%), JPMorgan Chase & Co. (1.55%) and Geode Capital Management LLC (1.28%). Company insiders that own ConnectOne Bancorp stock include Christopher J Ewing, Elizabeth Magennis, Frank Huttle III, Frank Sorrentino III, Frank W Baier, Katherin Nukk-Freeman, Kevin Rendino, Laura Criscione, Michael W Kempner, Nicholas Minoia, Stephen T Boswell, William S Burns and William Thompson. View institutional ownership trends for ConnectOne Bancorp.

Which institutional investors are selling ConnectOne Bancorp stock?

CNOB stock was sold by a variety of institutional investors in the last quarter, including Hillsdale Investment Management Inc., Banc Funds Co. LLC, Hennessy Advisors Inc., ClariVest Asset Management LLC, Morgan Stanley, Nuveen Asset Management LLC, WINTON GROUP Ltd, and Parametric Portfolio Associates LLC. View insider buying and selling activity for ConnectOne Bancorp.

Which institutional investors are buying ConnectOne Bancorp stock?

CNOB stock was acquired by a variety of institutional investors in the last quarter, including Castine Capital Management LLC, JPMorgan Chase & Co., Rothschild & Co. Asset Management US Inc., Alliancebernstein L.P., Stieven Capital Advisors L.P., Seidman Lawrence B, BHZ Capital Management LP, and Geode Capital Management LLC. Company insiders that have bought ConnectOne Bancorp stock in the last two years include Frank W Baier, Katherin Nukk-Freeman, Kevin Rendino, Nicholas Minoia, Stephen T Boswell, and William Thompson. View insider buying and selling activity for ConnectOne Bancorp.

How do I buy shares of ConnectOne Bancorp?

Shares of CNOB can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is ConnectOne Bancorp's stock price today?

One share of CNOB stock can currently be purchased for approximately $15.38.

How big of a company is ConnectOne Bancorp?

ConnectOne Bancorp has a market capitalization of $610.74 million and generates $279.52 million in revenue each year. The financial services provider earns $73.39 million in net income (profit) each year or $2.25 on an earnings per share basis.

What is ConnectOne Bancorp's official website?

The official website for ConnectOne Bancorp is www.connectonebank.com.

How can I contact ConnectOne Bancorp?

ConnectOne Bancorp's mailing address is 301 SYLVAN AVENUE, ENGLEWOOD CLIFFS NJ, 07632. The financial services provider can be reached via phone at 201-816-8900 or via email at [email protected]

This page was last updated on 6/3/2020 by MarketBeat.com Staff