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Weakness Seen in ConnectOne (CNOB): Stock Tanks 59.9%
July 02, 2014

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ConnectOne Bancorp, Inc. (CNOB - Free Report) saw a big move last session, as the company’s shares fell nearly 60% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for CNOB as the stock is now up about 4% in the past one-month time frame.

The provider of financial services has seen a mixed track record when it comes to current year estimate revisions over the past few weeks with no change, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

CNOB currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0%.

Some better-ranked stocks in the same sector include AeroCentury Corp. (ACY - Free Report) , Astoria Financial Corporation and AmTrust Financial Services, Inc. (AFSI - Free Report) . All these stocks hold a Zacks Rank #1 (Strong Buy).

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