ConnectOne Bancorp Full Year 2024 Earnings: EPS Beats Expectations

ConnectOne Bancorp (NASDAQ:CNOB) Full Year 2024 Results

Key Financial Results

• Revenue: US$250.3m (down 4.1% from FY 2023).
• Net income: US$67.6m (down 16% from FY 2023).
• Profit margin: 27% (down from 31% in FY 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$1.77 (down from US$2.08 in FY 2023).

CNOB Banking Performance Indicators

• Net interest margin (NIM): 2.72% (down from 2.82% in FY 2023).
• Non-performing loans: 0.69% (up from 0.63% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ConnectOne Bancorp EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%.

In the last 12 months, the only revenue segment was Community Banking contributing US$250.3m. The largest operating expense was General & Administrative costs, amounting to US$127.7m (70% of total expenses). Explore how CNOB's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 7.5% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of ConnectOne Bancorp's balance sheet and an in-depth analysis of the company's financial position.

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