Would It Be A Good Move Today To Buy ConnectOne Bancorp Inc. (CNOB) Stock?


As of Wednesday close, ConnectOne Bancorp Inc.’s (NASDAQ:CNOB) stock was down -$0.08, moving down -0.30 percent to $26.19. The average number of shares traded per day over the past five days has been 132,100 shares. 5 times new highs have been achieved over the past 5 days, with a $0.78 gain in that time frame. In the last twenty days, the average volume was 127,000, while in the previous 50 days, it was 107,144.

Since last month, CNOB stock rose 3.97%. Shares of the company fell to $23.62 on 10/27/22, the lowest level in the past month. A 52-week high of $37.00 was reached on 01/18/22 after having rallying from a 52-week low of $22.55. Since the beginning of this year, CNOB’s stock price has dropped by -19.93% or -$6.52, and marked a new high 9 times. However, the stock has declined by -29.22% since its 52-week high.

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CNOB stock investors should be aware that ConnectOne Bancorp Inc. (CNOB) stock had its last reported insider trading activity 7 days ago on Nov 17. THOMPSON WILLIAM, the Director of the company, purchased of 1,000 shares for $24.82 on Nov 17. It resulted in a $24,824 investment by the insider. Boswell Stephen T. added 8,000 shares at an average price of $24.88 on Nov 14. The insider now owns 249,103 shares following the transaction. On Jun 16, Director Boswell Stephen T. bought 6,000 shares at $24.96 apiece. The transaction was valued at $149,760.

Valuation Metrics

Right now, ConnectOne Bancorp Inc. (CNOB) has a P/E ratio of about 8.70. The stock’s beta is 1.20. Besides these, the trailing price-to-sales (P/S) ratio of 2.97, the price-to-book (PB) ratio of 0.99, and the price-to-cash flow ratio of 8.62 may also be considered.

The latest dividend of $0.1550 per share was paid out, remained unchanged from last year’s $0.1550. On Thursday April 28 2022, a $0.0250 dividend increase was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.15, and the total debt-to-equity ratio was 0.15. In the year ended September 29, operating margins totaled 82.10%. Based on annual data, CNOB earned $262.88 million in gross profit and brought in $301.74 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 19.20%. Return on equity (ROE) for the past 12 months was 11.60%.

In ConnectOne Bancorp Inc.’s quarter-end financial report for September 29, it reported total debt of $153.18 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected ConnectOne Bancorp Inc. to report $0.79 quarterly earnings, the actual figure was $0.7 per share, beating the consensus estimate by -11.40%. The value of shareholders’ equity is $39.24 million.

Technical Picture

This quick technical analysis looks at ConnectOne Bancorp Inc.’s (CNOB) price momentum. With a historical volatility rate of 28.26%, the RSI 9-day stood at 64.92% on 23 November.

With respect to its five-day moving average, the current ConnectOne Bancorp Inc. price is up by +3.07% percent or $0.78. At present, CNOB shares trade +5.43% above its 20-day simple moving average and +5.01% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.78% above its SMA50 and -21.70% below its SMA200.

Stochastic coefficient K was 94.02% and Stochastic coefficient D was 86.54%, while ATR was 0.68. Given the Stochastic reading of 87.59% for the 14-day period, the RSI (14) reading has been calculated as 60.98%. As of today, the MACD Oscillator reading stands at 0.69, while the 14-day reading stands at 1.06.

Analyst Ratings

ConnectOne Bancorp Inc. downgraded its rating on ConnectOne Bancorp Inc. (NASDAQ: CNOB) to an Outperform in a note to investors on January 31, 2022. The analysts firm previously had a Strong buy rating on the stock.


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