ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services.
Very undervalued with excellent balance sheet and pays a dividend.
Share Price & News
How has ConnectOne Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CNOB's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CNOB underperformed the US Banks industry which returned -31.1% over the past year.
Return vs Market: CNOB underperformed the US Market which returned -13.6% over the past year.
Price Volatility Vs. Market
How volatile is ConnectOne Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StHow Should Investors React To ConnectOne Bancorp, Inc.'s (NASDAQ:CNOB) CEO Pay?
3 weeks ago | Simply Wall StHow Does ConnectOne Bancorp's (NASDAQ:CNOB) P/E Compare To Its Industry, After The Share Price Drop?
3 weeks ago | Simply Wall StDid Changing Sentiment Drive ConnectOne Bancorp's (NASDAQ:CNOB) Share Price Down By 29%?
Is ConnectOne Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CNOB ($12.41) is trading below our estimate of fair value ($25.93)
Significantly Below Fair Value: CNOB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CNOB is good value based on its PE Ratio (6x) compared to the Banks industry average (8.8x).
PE vs Market: CNOB is good value based on its PE Ratio (6x) compared to the US market (12.9x).
Price to Earnings Growth Ratio
PEG Ratio: CNOB is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: CNOB is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).
How is ConnectOne Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CNOB's forecast earnings growth (13.7% per year) is above the savings rate (1.7%).
Earnings vs Market: CNOB's earnings (13.7% per year) are forecast to grow faster than the US market (12.3% per year).
High Growth Earnings: CNOB's earnings are forecast to grow, but not significantly.
Revenue vs Market: CNOB's revenue (11.1% per year) is forecast to grow faster than the US market (7.2% per year).
High Growth Revenue: CNOB's revenue (11.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CNOB's Return on Equity is forecast to be low in 3 years time (10.6%).
How has ConnectOne Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CNOB has high quality earnings.
Growing Profit Margin: CNOB's current net profit margins (39.2%) are lower than last year (42.5%).
Past Earnings Growth Analysis
Earnings Trend: CNOB's earnings have grown by 19.7% per year over the past 5 years.
Accelerating Growth: CNOB's earnings growth over the past year (21.4%) exceeds its 5-year average (19.7% per year).
Earnings vs Industry: CNOB earnings growth over the past year (21.4%) exceeded the Banks industry 10.9%.
Return on Equity
High ROE: CNOB's Return on Equity (10%) is considered low.
How is ConnectOne Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: CNOB has a low level of unsold assets or inventory.
Debt Coverage by Assets: CNOB's debt is not covered by short term assets (assets are 0.4x debt).
Financial Institutions Analysis
Asset Level: CNOB's level of assets compared to its equity is low.
Allowance for Bad Loans: CNOB has a low allowance for bad loans.
Low Risk Liabilities: CNOB's liabilities are made up of primarily low risk sources of funding.
Loan Level: CNOB has an acceptable proportion of non-loan assets held.
Low Risk Deposits: CNOB's loans are broadly funded by customer deposits.
Level of Bad Loans: CNOB has an appropriate level of bad loans (0.97%)
What is ConnectOne Bancorp's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CNOB's dividend (2.9%) is higher than the bottom 25% of dividend payers in the US market (2%).
High Dividend: CNOB's dividend (2.9%) is low compared to the top 25% of dividend payers in the US market (5.56%).
Stability and Growth of Payments
Stable Dividend: CNOB's dividends per share have been stable in the past 10 years.
Growing Dividend: CNOB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (17.3%), CNOB's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CNOB's dividends in 3 years are forecast to be well covered by earnings (17.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Frank Sorrentino (57yo)
Mr. Frank S. Sorrentino, III, has been the Chairman, President and Chief Executive Officer of ConnectOne Bancorp, Inc. since July 1, 2014. Mr. Sorrentino serves as Chairman and Chief Executive Officer of N ...
CEO Compensation Analysis
Compensation vs Market: Frank's total compensation ($USD2.12M) is about average for companies of similar size in the US market ($USD2.20M).
Compensation vs Earnings: Frank's compensation has been consistent with company performance over the past year.
|Executive VP & CFO||6.25yrs||US$859.27k||0.16% $815.5k|
|Executive VP & COO||no data||US$713.51k||0.023% $113.6k|
|First Senior VP & Chief Credit Officer||no data||US$542.41k||0.038% $188.6k|
|Executive VP & Chief Lending Officer||5.75yrs||US$803.45k||0.15% $734.2k|
|Executive VP & Corporate Secretary||no data||US$512.26k||0.18% $880.7k|
|Vice President of Marketing||no data||no data||no data|
|President of BoeFly Division||0.83yr||no data||no data|
Experienced Management: CNOB's management team is seasoned and experienced (5.8 years average tenure).
|Independent Director||6.25yrs||US$97.48k||0.23% $1.1m|
|Independent Director||5.75yrs||US$72.48k||0.56% $2.8m|
|Independent Director||5.75yrs||US$72.48k||1.02% $5.1m|
|Independent Director||26.25yrs||US$77.48k||0.24% $1.2m|
|Independent Director||5.08yrs||US$90.48k||0.34% $1.7m|
|Independent Director||5.75yrs||US$84.48k||0.63% $3.1m|
|Lead Independent Director||5.75yrs||US$123.98k||0.76% $3.8m|
|Director||no data||US$7.61k||0.0068% $33.9k|
Experienced Board: CNOB's board of directors are considered experienced (5.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CNOB insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.6%.
ConnectOne Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: ConnectOne Bancorp, Inc.
- Ticker: CNOB
- Exchange: NasdaqGS
- Founded: 1982
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$500.839m
- Shares outstanding: 39.62m
- Website: https://www.connectonebank.com
Number of Employees
- ConnectOne Bancorp, Inc.
- 301 Sylvan Avenue
- Bergen County
- Englewood Cliffs
- New Jersey
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CNOB||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jan 1975|
ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts. It also provides personal and commercial business loans on a secured and unsecured basis; revolving lines of credit; commercial mortgage loans; residential mortgages on primary and secondary residences; home equity loans; bridge loans; and other personal purpose loans. In addition, the company offers credit cards, wire transfers, access to automated teller services, Internet banking, treasury direct, ACH origination, lockbox, mobile banking by phone, safe deposit box, and remote deposit capture services. As of January 24, 2019, the company offered its commercial and consumer banking and lending services and products through its 29 banking offices located in New York and New Jersey. It serves small-to-medium sized businesses, high net worth individuals, professional practices, and consumer and retail clients. The company was formerly known as Center Bancorp, Inc. and changed its name to ConnectOne Bancorp, Inc. in July 2014. ConnectOne Bancorp, Inc. was incorporated in 1982 and is headquartered in Englewood Cliffs, New Jersey.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/03 00:38|
|End of Day Share Price||2020/04/02 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.