Stock Worth Mentioning: Is Buying 52-Week Stock Like ConnectOne Bancorp Inc a Winning Strategy?

Stock Worth Mentioning: Is Buying 52 Week Stock Like ConnectOne Bancorp Inc a Winning Strategy?

The stock of ConnectOne Bancorp Inc (NASDAQ:CNOB) hit a new 52-week high and has $24.95 target or 26.00% above today’s $19.80 share price. The 9 months bullish chart indicates low risk for the $599.26M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $24.95 price target is reached, the company will be worth $155.81M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 80,955 shares traded hands or 44.69% up from the average. ConnectOne Bancorp Inc (NASDAQ:CNOB) has risen 18.73% since April 7, 2016 and is uptrending. It has outperformed by 13.94% the S&P500.

ConnectOne Bancorp Inc (NASDAQ:CNOB) Ratings Coverage

Out of 3 analysts covering Connectone Bancorp (NASDAQ:CNOB), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Connectone Bancorp has been the topic of 5 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of ConnectOne Bancorp Inc (NASDAQ:CNOB) has “Sell” rating given on Monday, August 10 by Zacks. The rating was initiated by Maxim Group on Tuesday, December 15 with “Buy”. Piper Jaffray initiated it with “Overweight” rating and $19 target price in Monday, March 7 report.

According to Zacks Investment Research, “ConnectOne Bancorp, Inc. is a community-based, full-service commercial bank holding company. The Bank offers a range of lending, depository and related financial services to commercial, industrial and governmental customers. ConnectOne provides secured and unsecured loans, mortgage loans, home equity lines of credit, short and medium term loans, lines of credit, letters of credit, working capital loans, and real estate construction loans, as well as collection services, wire transfers, night depository, and lock box services. The Bank, through its subsidiary, provides financial services, including brokerage services, insurance and annuities, mutual funds and financial planning. It also offers various money market services. ConnectOne Bancorp, Inc., formerly known as Center Bancorp, Inc., is based in Englewood Cliffs, New Jersey.”

Insitutional Activity: The institutional sentiment increased to 2 in Q2 2016. Its up 0.89, from 1.11 in 2016Q1. The ratio is positive, as 3 funds sold all ConnectOne Bancorp Inc shares owned while 23 reduced positions. 15 funds bought stakes while 37 increased positions. They now own 18.68 million shares or 0.53% more from 18.58 million shares in 2016Q1.
First Trust L P last reported 0% of its portfolio in the stock. Moreover, Blackrock Institutional Tru Na has 0% invested in ConnectOne Bancorp Inc (NASDAQ:CNOB) for 369,853 shares. Blackrock has 0% invested in the company for 8,774 shares. The New York-based Citigroup has invested 0% in ConnectOne Bancorp Inc (NASDAQ:CNOB). Guggenheim Cap Lc reported 68,931 shares or 0% of all its holdings. Moreover, Aqr Cap Ltd Co has 0% invested in ConnectOne Bancorp Inc (NASDAQ:CNOB) for 17,579 shares. Schwab Charles Invest Mgmt, a California-based fund reported 46,340 shares. Bank & Trust Of New York Mellon holds 147,060 shares or 0% of its portfolio. Tower Cap Lc (Trc) holds 0% of its portfolio in ConnectOne Bancorp Inc (NASDAQ:CNOB) for 977 shares. Voya Inv Mngmt Lc accumulated 0% or 16,508 shares. Millennium Mgmt Limited Liability Corporation accumulated 0% or 107,735 shares. Royal Comml Bank Of Canada accumulated 0% or 3,614 shares. Price T Rowe Associates Md accumulated 0% or 19,483 shares. Wellington Grp Ltd Liability Partnership has 0.01% invested in the company for 1.60 million shares. Rmb Capital Mgmt Ltd Co, a Illinois-based fund reported 309,513 shares.

More important recent ConnectOne Bancorp Inc (NASDAQ:CNOB) news were published by: Marketwatch.com which released: “ConnectOne Bancorp started at outperform with $21 stock price target at FBR & Co.” on March 11, 2013, also Globenewswire.com published article titled: “Center Bancorp, Inc. and ConnectOne Bancorp, Inc. to Merge, Creating New …”, Globenewswire.com published: “ConnectOne Bancorp, Inc. Completes Merger” on July 01, 2014. More interesting news about ConnectOne Bancorp Inc (NASDAQ:CNOB) was released by: Nasdaq.com and their article: “ConnectOne Bancorp, Inc. (CNOB) Ex-Dividend Date Scheduled for October 12, 2016” with publication date: October 11, 2016.

CNOB Company Profile

ConnectOne Bancorp, Inc., incorporated on November 12, 1982, is a bank holding firm of ConnectOne Bank (the Bank), a New Jersey-chartered commercial bank. The Firm operates in community bank segment. The Bank offers a range of deposit and loan products, and services to the general public, small and middle-sized businesses, local professionals, and individuals residing, working and conducting business in its trade area. The Bank, through its subsidiary, Center Financial Group LLC, provides financial services, including brokerage services, insurance and annuities, mutual funds and financial planning. The Bank’s services and products include personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, credit cards, wire transfers, access to automated teller services, Internet banking, Treasury Direct, ACH origination, lockbox services and mobile banking by phone. It offers safe deposit boxes. The Bank also offers remote deposit capture banking for both retail and business customers, providing the ability to electronically scan and transmit checks for deposit. The Company’s banking offices are located in Bergen, Union, Morris, Essex, Hudson, Mercer and Monmouth Counties in New Jersey and in the borough of Manhattan, in New York City, which include some markets in the United States.

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