NasdaqGS:CNOB

Stock Analysis Report

Executive Summary

ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.


Similar Companies

Share Price & News

How has ConnectOne Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.4%

NasdaqGS:CNOB

-1.8%

US Banks

-1.6%

US Market


1 Year Return

-20.8%

NasdaqGS:CNOB

-16.1%

US Banks

-3.0%

US Market

CNOB underperformed the Banks industry which returned -16.1% over the past year.

CNOB underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

CNOBIndustryMarket
7 Day0.4%-1.8%-1.6%
30 Day-11.8%-10.6%-5.8%
90 Day-7.6%-5.0%0.2%
1 Year-19.6%-20.8%-13.7%-16.1%-0.8%-3.0%
3 Year17.1%12.4%37.9%28.5%38.0%29.1%
5 Year11.9%4.0%49.4%33.2%50.8%34.1%

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

Valuation

Is ConnectOne Bancorp undervalued based on future cash flows and its price relative to the stock market?

33%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

ConnectOne Bancorp's share price is below the future cash flow value, and at a moderate discount (> 20%).

ConnectOne Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

ConnectOne Bancorp is good value based on earnings compared to the US Banks industry average.

ConnectOne Bancorp is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

ConnectOne Bancorp is good value based on expected growth next year.


Price Based on Value of Assets

ConnectOne Bancorp is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is ConnectOne Bancorp expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

18.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

ConnectOne Bancorp's revenue is expected to grow by 9.1% yearly, however this is not considered high growth (20% yearly).

ConnectOne Bancorp's earnings are expected to grow by 18.3% yearly, however this is not considered high growth (20% yearly).

ConnectOne Bancorp's revenue growth is expected to exceed the United States of America market average.

ConnectOne Bancorp's earnings growth is expected to exceed the United States of America market average.

ConnectOne Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if ConnectOne Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has ConnectOne Bancorp performed over the past 5 years?

20.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

ConnectOne Bancorp has delivered over 20% year on year earnings growth in the past 5 years.

ConnectOne Bancorp's 1-year earnings growth exceeds its 5-year average (52.9% vs 20.4%)

ConnectOne Bancorp's earnings growth has exceeded the US Banks industry average in the past year (52.9% vs 33.1%).


Return on Equity

ConnectOne Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

ConnectOne Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if ConnectOne Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

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


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

ConnectOne Bancorp has an acceptable proportion of non-loan assets held.

ConnectOne Bancorp has a low allowance for bad loans.

ConnectOne Bancorp's liabilities are made up of primarily low risk sources of funding.

ConnectOne Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at ConnectOne Bancorp are broadly funded by customer deposits.

ConnectOne Bancorp has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is ConnectOne Bancorp's current dividend yield, its reliability and sustainability?

1.93%

Expected Dividend Yield


Dividend Yield and Payments Analysis

ConnectOne Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).

ConnectOne Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.93%).

Dividends per share have been stable in the past 10 years.

No dividend growth in 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (6.2x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of ConnectOne Bancorp's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average management tenure


CEO

Frank Sorrentino (57yo)

5.1yrs

Tenure

US$2,116,801

Compensation

Mr. Frank S. Sorrentino, III, has been the Chairman and Chief Executive Officer of ConnectOne Bancorp, Inc. since July 1, 2014. Mr. Sorrentino serves as Chairman and Chief Executive Officer of North Jersey ...


CEO Compensation Analysis

Frank's remuneration is about average for companies of similar size in United States of America.

Frank's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

5.3yrs

Average Tenure

57yo

Average Age

The average tenure for the ConnectOne Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

5.1yrs

Average Tenure

62yo

Average Age

The tenure for the ConnectOne Bancorp board of directors is about average.


Insider Trading

More shares have been bought than sold by ConnectOne Bancorp individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$214,95622 Aug 19
Stephen Boswell
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares10,500
Max PriceUS$20.47
SellUS$32,83502 May 19
William Burns
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares1,500
Max PriceUS$21.89
SellUS$19,17102 May 19
Laura Criscione
EntityIndividual
Role
Chief Compliance Officer
Executive VP & Chief Compliance Officer
Shares873
Max PriceUS$21.96
SellUS$33,53302 May 19
Christopher Ewing
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares1,527
Max PriceUS$21.96
SellUS$34,34101 May 19
Elizabeth Magennis
EntityIndividual
Role
Other Key Executive
Executive VP & Chief Lending Officer
Shares1,556
Max PriceUS$22.07
SellUS$114,89701 May 19
Frank Sorrentino
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares5,240
Max PriceUS$21.93
BuyUS$24,52207 Mar 19
William Thompson
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,175
Max PriceUS$20.87
SellUS$54,29131 Jan 19
William Thompson
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,700
Max PriceUS$20.11
BuyUS$10,24912 Dec 18
Katherin Nukk-Freeman
EntityIndividual
Shares550
Max PriceUS$18.63
SellUS$85,08923 Nov 18
Frank Huttle
EntityIndividual
Role
Member of the Board of Directors
Director
Shares4,250
Max PriceUS$20.02
SellUS$100,81509 Nov 18
Laura Criscione
EntityIndividual
Role
Chief Compliance Officer
Executive VP & Chief Compliance Officer
Shares4,700
Max PriceUS$21.45
SellUS$121,22607 Nov 18
Michael Kempner
EntityIndividual
Role
Member of the Board of Directors
Director
Shares5,650
Max PriceUS$21.46
BuyUS$312,45030 Oct 18
Stephen Boswell
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares15,000
Max PriceUS$20.83

Ownership Breakdown


Management Team

  • Bill Burns (59yo)

    Executive VP & CFO

    • Tenure: 5.6yrs
    • Compensation: US$859.27k
  • Mike Rozman

    President

    • Tenure: 0.2yrs
  • Jose Solorzano

    Vice President of Special Assets & Lending

    • Tenure: 8.6yrs
  • Frank Sorrentino (57yo)

    Chairman & CEO

    • Tenure: 5.1yrs
    • Compensation: US$2.12m
  • Liz Magennis (49yo)

    Executive VP & Chief Lending Officer

    • Tenure: 5.1yrs
    • Compensation: US$803.45k
  • Laura Criscione (50yo)

    Executive VP & Chief Compliance Officer

    • Tenure: 0.0yrs
    • Compensation: US$512.26k
  • Mike McGrover

    First Senior VP & Chief Credit Officer

    • Tenure: 0.0yrs
    • Compensation: US$542.41k
  • Chris Ewing (59yo)

    Executive VP & COO

    • Tenure: 0.0yrs
    • Compensation: US$713.51k
  • Sue Fetner

    VP & Specialty Products Manager

    • Tenure: 7.1yrs
  • Siya Vansia

    Vice President of Marketing

    • Tenure: 0.0yrs

Board Members

  • Frank Baier (53yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: US$97.48k
  • Joe Parisi (59yo)

    Director

    • Tenure: 5.1yrs
    • Compensation: US$72.48k
  • Charles Woodward (96yo)

    Honorary Chairman

    • Tenure: 0.0yrs
  • Michael Kempner (61yo)

    Director

    • Tenure: 5.1yrs
    • Compensation: US$72.48k
  • William Thompson (61yo)

    Director

    • Tenure: 25.6yrs
    • Compensation: US$77.48k
  • Al Bol (71yo)

    Director

    • Tenure: 4.4yrs
    • Compensation: US$90.48k
  • Nick Minoia (63yo)

    Director

    • Tenure: 10.6yrs
    • Compensation: US$110.48k
  • Frank Huttle (64yo)

    Director

    • Tenure: 5.1yrs
    • Compensation: US$84.48k
  • Frank Sorrentino (57yo)

    Chairman & CEO

    • Tenure: 5.1yrs
    • Compensation: US$2.12m
  • Stephen Boswell (65yo)

    Lead Independent Director

    • Tenure: 5.1yrs
    • Compensation: US$123.98k

Company Information

ConnectOne Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ConnectOne Bancorp, Inc.
  • Ticker: CNOB
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$708.586m
  • Shares outstanding: 35.17m
  • Website: https://www.connectonebank.com

Number of Employees


Location

  • ConnectOne Bancorp, Inc.
  • 301 Sylvan Avenue
  • Bergen County
  • Englewood Cliffs
  • New Jersey
  • 7632
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNOBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1975

Biography

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 depos ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 23:34
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.