The stock price of ConnectOne Bancorp Inc. (NASDAQ: CNOB) has dropped by -6.44 compared to previous close of 19.73. Despite this, the company has seen a gain of 1.99% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-25 that Although the revenue and EPS for ConnectOne (CNOB) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Is It Worth Investing in ConnectOne Bancorp Inc. (NASDAQ: CNOB) Right Now?
The price-to-earnings ratio for ConnectOne Bancorp Inc. (NASDAQ: CNOB) is above average at 8.91x. The 36-month beta value for CNOB is also noteworthy at 1.21. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for CNOB is 35.75M, and at present, short sellers hold a 3.57% of that float. The average trading volume of CNOB on April 26, 2024 was 179.79K shares.
CNOB’s Market Performance
CNOB stock saw a decrease of 1.99% in the past week, with a monthly decline of -1.18% and a quarterly a decrease of -22.34%. The volatility ratio for the week is 4.27%, and the volatility levels for the last 30 days are 3.04% for ConnectOne Bancorp Inc. (CNOB). The simple moving average for the past 20 days is -1.14% for CNOB’s stock, with a -5.99% simple moving average for the past 200 days.
Analysts’ Opinion of CNOB
Many brokerage firms have already submitted their reports for CNOB stocks, with Hovde Group repeating the rating for CNOB by listing it as a “Outperform.” The predicted price for CNOB in the upcoming period, according to Hovde Group is $21 based on the research report published on October 06, 2023 of the previous year 2023.
Raymond James, on the other hand, stated in their research note that they expect to see CNOB reach a price target of $26. The rating they have provided for CNOB stocks is “Strong Buy” according to the report published on July 31st, 2023.
CNOB Trading at -4.05% from the 50-Day Moving Average
After a stumble in the market that brought CNOB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -24.47% of loss for the given period.
Volatility was left at 3.04%, however, over the last 30 days, the volatility rate increased by 4.27%, as shares sank -4.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.53% lower at present.
During the last 5 trading sessions, CNOB rose by +1.99%, which changed the moving average for the period of 200-days by +12.91% in comparison to the 20-day moving average, which settled at $18.63. In addition, ConnectOne Bancorp Inc. saw -19.42% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CNOB starting from Boswell Stephen T., who purchase 8,000 shares at the price of $18.95 back on Nov 16 ’23. After this action, Boswell Stephen T. now owns 75,710 shares of ConnectOne Bancorp Inc., valued at $151,579 using the latest closing price.
THOMPSON WILLIAM, the Director of ConnectOne Bancorp Inc., purchase 2,000 shares at $20.25 during a trade that took place back on Aug 15 ’23, which means that THOMPSON WILLIAM is holding 100,850 shares at $40,493 based on the most recent closing price.
Stock Fundamentals for CNOB
Current profitability levels for the company are sitting at:
- 0.51 for the present operating margin
- 1.0 for the gross margin
The net margin for ConnectOne Bancorp Inc. stands at 0.26. The total capital return value is set at 0.04. Equity return is now at value 7.25, with 0.89 for asset returns.
Based on ConnectOne Bancorp Inc. (CNOB), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.09. The debt to equity ratio resting at 0.84. The interest coverage ratio of the stock is 0.97.
Currently, EBITDA for the company is 171.22 million with net debt to EBITDA at 5.52. When we switch over and look at the enterprise to sales, we see a ratio of 4.44. The receivables turnover for the company is 6.85for trailing twelve months and the total asset turnover is 0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.05.
Conclusion
In summary, ConnectOne Bancorp Inc. (CNOB) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
