ConnectOne Bancorp Inc. [NASDAQ: CNOB] traded at a low on Tuesday, posting a -0.40 loss after which it closed the day’ session at $17.65.
The results of the trading session contributed to over 124541 shares changing hands. Over the past one week, the price volatility of ConnectOne Bancorp Inc. stands at 3.61% while the volatility over the past one month is 3.24%.
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The market cap for CNOB stock reached $676.52 million, with 38.52 million shares outstanding and 35.28 million shares in the current float. Compared to the average trading volume of 139.48K shares, CNOB reached a trading volume of 124541 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about ConnectOne Bancorp Inc. [CNOB]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNOB shares is $23.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNOB stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Keefe Bruyette have made an estimate for ConnectOne Bancorp Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on May 31, 2024. While these analysts kept the previous recommendation, Hovde Group raised their target price to Outperform. The new note on the price target was released on October 06, 2023, representing the official price target for ConnectOne Bancorp Inc. stock. Previously, the target price had yet another raise to $26, while Raymond James analysts kept a Strong Buy rating on CNOB stock.
The Average True Range (ATR) for ConnectOne Bancorp Inc. is set at 0.60, with the Price to Sales ratio for CNOB stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 0.61. Price to Free Cash Flow for CNOB in the course of the last twelve months was 7.33.
How has CNOB stock performed recently?
ConnectOne Bancorp Inc. [CNOB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.18. With this latest performance, CNOB shares dropped by -16.43% in over the last four-week period, additionally sinking by -23.23% over the last 6 months – not to mention a rise of 3.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNOB stock in for the last two-week period is set at 38.16, with the RSI for the last a single of trading hit 36.42, and the three-weeks RSI is set at 40.27 for ConnectOne Bancorp Inc. [CNOB]. The present Moving Average for the last 50 days of trading for this stock 18.91, while it was recorded at 17.75 for the last single week of trading, and 19.59 for the last 200 days.
ConnectOne Bancorp Inc. [CNOB]: Deeper insight into the fundamentals
ConnectOne Bancorp Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.05.
Earnings analysis for ConnectOne Bancorp Inc. [CNOB]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNOB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ConnectOne Bancorp Inc. go to 10.00%.
Insider trade positions for ConnectOne Bancorp Inc. [CNOB]
The top three institutional holders of CNOB stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CNOB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CNOB stock with ownership which is approximately 5.8386%.
