CNOB Stock Summary and Trading Ideas (Connectone Bancorp | NASDAQ:CNOB)

ConnectOne Bancorp Inc is a holding company. The company through its holding provides banking services including lending, depository, and related financial services to commercial, industrial and governmental customers. It is managed as one segment: a community bank. It generates revenue from net interest income.

Connectone Bancorp trades on the NASDAQ stock market under the symbol CNOB.

As of April 22, 2024, CNOB stock price climbed to $18.88 with 91,840 million shares trading.

CNOB has a beta of 1.63, meaning it tends to be more sensitive to market movements. CNOB has a correlation of 0.27 to the broad based SPY ETF.

CNOB has a market cap of $723.73 million. This is considered a Small Cap stock.

Last quarter Connectone Bancorp reported $62 million in Revenue and $.50 earnings per share. This fell short of revenue expectation by $-1 million and exceeded earnings estimates by $.05.

In the last 3 years, CNOB stock traded as high as $37.00 and as low as $13.11.

The top ETF exchange traded funds that CNOB belongs to (by Net Assets): VTI, IWM, VXF, AVUV, IWN.

CNOB has underperformed the market in the last year with a return of +20.6%, while the SPY ETF gained +22.9%. In the last 3 month period, CNOB fell short of the market, returning -19.7%, while SPY returned +3.7%. However, in the most recent 2 weeks CNOB has outperformed the stock market by returning -0.6%, while SPY returned -3.7%.

CNOB support price is $18.19 and resistance is $19.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNOB stock will trade within this expected range on the day.