ConnectOne Bancorp - CNOB Stock Forecast, Price & News

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 Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts. It also provides consumer 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; other personal purpose loans; and commercial construction and real estate loans. In addition, the company offers check cards, ATM cards, credit cards, wire transfers, access to automated teller services, Internet banking, treasury direct, automated clearing house origination, mobile banking by phone, safe deposit boxes, and remote deposit capture services. It operates through a network of eight banking offices in Bergen County, five banking offices in Union County, one banking office in Morris County, one office in Essex County, one office in Hudson County, one office in Monmouth County, one banking office in Manhattan in New York City, one office in Nassau County on Long Island, one in Astoria, and five branches in the Hudson Valley, as well as one financial center in West Palm Beach in Palm Beach County. 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.

Analyst Ratings Changes

CNOB has been the topic of a number of analyst reports. Raymond James reduced their price objective on ConnectOne Bancorp from $33.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, July 7th. Stephens lifted their price objective on ConnectOne Bancorp from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 2nd.

ConnectOne Bancorp Trading Down 0.1 %

NASDAQ:CNOB traded down $0.03 on Monday, reaching $28.25. The company's stock had a trading volume of 80,361 shares, compared to its average volume of 161,057. ConnectOne Bancorp has a 12-month low of $23.18 and a 12-month high of $37.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 9.05 and a beta of 1.25. The stock has a 50 day moving average price of $25.59 and a 200 day moving average price of $28.89.

ConnectOne Bancorp (NASDAQ:CNOB - Get Rating) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. ConnectOne Bancorp had a return on equity of 12.69% and a net margin of 38.52%. During the same period in the prior year, the company earned $0.81 EPS. On average, equities analysts anticipate that ConnectOne Bancorp will post 3.04 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a $0.155 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.62 dividend on an annualized basis and a yield of 2.19%. ConnectOne Bancorp's dividend payout ratio is currently 19.87%.

Insider Buying and Selling at ConnectOne Bancorp

In other news, Director Stephen T. Boswell acquired 6,000 shares of the company's stock in a transaction dated Thursday, June 16th. The stock was acquired at an average cost of $24.96 per share, with a total value of $149,760.00. Following the completion of the purchase, the director now owns 61,657 shares of the company's stock, valued at approximately $1,538,958.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.58% of the company's stock.