Raymond James Upgrades ConnectOne Bancorp to Outperform, Sets $37 Target
The new target is above the $36 median of the two other firms that set price targets on the stock in the past year.
Key points
- Raymond James upgraded ConnectOne Bancorp to outperform from market perform with a $37 price target
- Two other firms with targets in the past year have a median of $36, ranging from $34 to $38
- Revenue for fiscal 2025 was $388.3 million, up 47%; net income was $80.4 million, up 9%
- Stock closed at $32.84 on Monday, up 0.5%, after closing at $32.69 on Friday, Oct. 23
Raymond James upgraded ConnectOne Bancorp, Inc. (Nasdaq: CNOB) to outperform from market perform before the open on Monday, Oct. 26, and set a price target of $37.
Of the three firms that rated the stock in the 365 days before the upgrade, two rated it positive and one neutral, with none negative. The two price targets in that period ranged from $34 to $38, with a median of $36.
The upgrade came four days after ConnectOne filed an 8-K with the Securities and Exchange Commission on Thursday, Oct. 22. The filing listed results of operations and financial condition among its items.
For the fiscal year ended Dec. 31, 2025, ConnectOne reported revenue of $388.3 million, up 47% from a year earlier, and net income of $80.4 million, up 9%. In the quarter ended June 30, 2026, the company posted net income of $41.7 million, compared with a loss of $20.3 million a year earlier.
The stock closed at $32.69 on Friday, Oct. 23, and had risen 5.2% over the 20 sessions to that close. On Monday the stock rose 0.5% to close at $32.84, while the S&P 500 ETF gained 0.7%.
Before the filing, the company's market capitalization was about $1.64 billion.
Sources
Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
More on ConnectOne Bancorp
CNOB page →Filings, figures and price history are on the ConnectOne Bancorp page.