ConnectOne Bancorp Inc (NASDAQ: CNOB) has benefited from exceptional positive changes in investment behavior: the stock rose on very heavy volume, and positive upside/downside volume developed.
Recent significant positive changes in fundamentals have benefitted ConnectOne Bancorp Inc (NASDAQ: CNOB): significant quarterly earnings acceleration occurred, and the consensus estimate for December, 2024 increased significantly.
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 contradictory signals. ConnectOne Bancorp has a good Appreciation Score of 81 but a slightly negative Power Rating of 38, triggering the High Neutral Value Trend Rating.
Recent Price Action
ConnectOne Bancorp Inc (NASDAQ: CNOB) stock closed at $25.00 on 9/5/24 after a large increase of 4.3%. Moreover, exceptionally high trading volume at 285% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 2.0% during the last week.
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