ConnectOne Bancorp price target lowered to $21 from $23 at Piper Sandler

Piper Sandler analyst Frank Schiraldi lowered the firm’s price target on ConnectOne Bancorp to $21 from $23 and keeps an Overweight rating on the shares after the company reported Q3 results. If the rate picture plays out more like the forward curve suggests, then the liability sensitive nature of the balance sheet coupled with the strong credit profile and efficient model would make ConnectOne one of the more attractive traditional bank names, the analyst tells investors in a research note.