Recent meaningful positive changes in fundamentals have benefitted ConnectOne Bancorp Inc (NASDAQ: CNOB): the stock’s power rating rose above 70, significant quarterly sales acceleration occurred, and significant quarterly earnings acceleration occurred.
ConnectOne Bancorp Inc (NASDAQ: CNOB) has benefited from notable positive changes in investment behavior: the stock’s recent price rise disrupted its longer term downtrend.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
CNOB is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
ConnectOne Bancorp has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. ConnectOne Bancorp has a good Appreciation Score of 79 and a very high Power Rating of 86, resulting in the Highest Value Trend Rating.
Recent Price Action
ConnectOne Bancorp Inc (NASDAQ: CNOB) stock closed at $22.09 on 1/3/24 after a decline of -4.0%. However, trading volume in this decline was below average at 73% of normal. The stock has declined -5.2% during the last week but has been exceptionally strong relative to the market over the last nine months.
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