ConnectOne Bancorp Inc (NASDAQ: CNOB) has recently enjoyed extremely important positive changes in investment behavior: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Important positive changes in fundamentals have recently occurred for ConnectOne Bancorp Inc (NASDAQ: CNOB): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would 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 be above the cost of capital.
ConnectOne Bancorp has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. ConnectOne Bancorp has a very high Appreciation Score of 87 but a slightly negative Power Rating of 34, resulting in the High Neutral Value Trend Rating.
Recent Price Action
ConnectOne Bancorp Inc (NASDAQ: CNOB) stock closed at $20.13 on 7/11/24 after a very large increase of 5.8%. Moreover, this advance was accompanied by exceptionally high trading volume at 247% of normal. The stock has risen 4.7% during the last week but has been weak relative to the market over the last nine months.
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