The stock of ConnectOne Bancorp Inc (NASDAQ:CNOB) reached all time high today, Nov, 29 and still has $24.62 target or 3.00% above today’s $23.90 share price. This indicates more upside for the $717.33 million company. This technical setup was reported by Barchart.com. If the $24.62 PT is reached, the company will be worth $21.52M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 36,874 shares traded hands. ConnectOne Bancorp Inc (NASDAQ:CNOB) has risen 38.74% since April 26, 2016 and is uptrending. It has outperformed by 33.48% the S&P500.
Analysts await ConnectOne Bancorp Inc (NASDAQ:CNOB) to report earnings on January, 25. They expect $0.33 EPS, down 8.33% or $0.03 from last year’s $0.36 per share. CNOB’s profit will be $9.90M for 18.11 P/E if the $0.33 EPS becomes a reality. After $0.40 actual EPS reported by ConnectOne Bancorp Inc for the previous quarter, Wall Street now forecasts -17.50% negative EPS growth.
ConnectOne Bancorp Inc (NASDAQ:CNOB) Ratings Coverage
Out of 4 analysts covering Connectone Bancorp (NASDAQ:CNOB), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Connectone Bancorp has been the topic of 6 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, December 15 by Maxim Group. The rating was maintained by FBR Capital with “Outperform” on Thursday, November 17. The firm has “Sell” rating by Zacks given on Monday, August 10. On Monday, March 7 the stock rating was initiated by Piper Jaffray with “Overweight”.
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 decreased to 1.11 in Q2 2016. Its down 0.89, from 2 in 2016Q1. The ratio dropped, 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.
Capital Ltd Liability Corp holds 0.03% or 22,895 shares in its portfolio. Brandywine Invest Mngmt Ltd Liability Corp reported 10,900 shares or 0% of all its holdings. Salzhauer Michael, a New York-based fund reported 28,985 shares. Los Angeles Mgmt & Equity has invested 0% of its portfolio in ConnectOne Bancorp Inc (NASDAQ:CNOB). Manufacturers Life Insurance Communication The holds 20,940 shares or 0% of its portfolio. Vanguard holds 0% of its portfolio in ConnectOne Bancorp Inc (NASDAQ:CNOB) for 971,157 shares. Fj Cap Mngmt Ltd Liability accumulated 239,000 shares or 0.74% of the stock. Consector Capital Limited Partnership accumulated 169,417 shares or 6.21% of the stock. Tower Rech Capital Ltd Liability Corp (Trc) accumulated 0% or 977 shares. The New Jersey-based Hallmark Cap Management has invested 0% in ConnectOne Bancorp Inc (NASDAQ:CNOB). Castine Capital Mgmt Ltd Liability last reported 225,000 shares in the company. Commonwealth Equity Ser accumulated 21,053 shares or 0% of the stock. Brown Advisory holds 938,976 shares or 0.05% of its portfolio. Ny State Common Retirement Fund last reported 0% of its portfolio in the stock. Great West Life Assurance Company Can holds 0% or 4,541 shares in its portfolio.
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 …”, Nasdaq.com published: “ConnectOne Bancorp (CNOB): Strong Industry, Solid Earnings Estimate Revisions” on November 29, 2016. More interesting news about ConnectOne Bancorp Inc (NASDAQ:CNOB) was released by: Globenewswire.com and their article: “ConnectOne Bancorp, Inc. Completes Merger” with publication date: July 01, 2014.
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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