Alert: Positive Investment/Fundamental Signals (12/14/23)-ConnectOne Bancorp Inc (NASDAQ: CNOB)


Meaningful positive changes in fundamentals have recently occurred for 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 recently enjoyed meaningful positive changes in investment behavior: the stock rose on very heavy volume.

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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. ConnectOne Bancorp has a good Appreciation Score of 79 and a good Power Rating of 80, and the Highest Value Trend Rating results.

Recent Price Action

ConnectOne Bancorp Inc (NASDAQ: CNOB) stock enjoyed a large increase of 4.8% on 12/14/23. The stock closed at $23.39. Moreover, this advance was accompanied by exceptionally high trading volume at 229% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 12.8% during the last week.

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