ConnectOne Bancorp (CNOB) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: ConnectOne Bancorp (CNOB) - ConnectOne Bancorp currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2][3] - The stock has shown significant price appreciation, with a 6.41% increase over the past week, outperforming the Zacks Banks - Northeast industry, which rose 4.31% [5] - Over the last month, CNOB's shares increased by 10.86%, compared to the industry's 9.21% [5] - In the longer term, CNOB shares have risen 18.14% over the past quarter and 34.53% over the past year, while the S&P 500 increased by 16.66% and 14.76%, respectively [6] Trading Volume - The average 20-day trading volume for CNOB is 298,147 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - Recent earnings estimate revisions for CNOB have been positive, with two estimates moving higher and none lower over the past two months, raising the consensus estimate from $2.30 to $2.50 [9] - For the next fiscal year, one estimate has increased, with no downward revisions noted [9] Conclusion - Given the positive momentum indicators and earnings outlook, CNOB is positioned as a strong buy candidate for investors seeking short-term gains [11]