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CNOB

ConnectOne Bancorp NasdaqGS:CNOB Stock Report

Last Price

US$25.99

Market Cap

US$1.0b

7D

-4.5%

1Y

-6.1%

Updated

19 May, 2022

Data

Company Financials +
CNOB fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends4/6

CNOB Stock Overview

ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the Northern New Jersey and New York Metropolitan area, and South Florida market.

ConnectOne Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ConnectOne Bancorp
Historical stock prices
Current Share PriceUS$25.99
52 Week HighUS$37.00
52 Week LowUS$24.17
Beta1.25
1 Month Change-17.12%
3 Month Change-23.13%
1 Year Change-6.14%
3 Year Change21.39%
5 Year Change18.95%
Change since IPO1,545.67%

Recent News & Updates

May 06
ConnectOne Bancorp (NASDAQ:CNOB) Is Increasing Its Dividend To US$0.15

ConnectOne Bancorp (NASDAQ:CNOB) Is Increasing Its Dividend To US$0.15

ConnectOne Bancorp, Inc. ( NASDAQ:CNOB ) has announced that it will be increasing its dividend on the 1st of June to...

May 02
I Ran A Stock Scan For Earnings Growth And ConnectOne Bancorp (NASDAQ:CNOB) Passed With Ease

I Ran A Stock Scan For Earnings Growth And ConnectOne Bancorp (NASDAQ:CNOB) Passed With Ease

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Shareholder Returns

CNOBUS BanksUS Market
7D-4.5%0.06%0.1%
1Y-6.1%-18.6%-12.7%

Return vs Industry: CNOB exceeded the US Banks industry which returned -18.2% over the past year.

Return vs Market: CNOB exceeded the US Market which returned -11.5% over the past year.

Price Volatility

Is CNOB's price volatile compared to industry and market?
CNOB volatility
CNOB Average Weekly Movement4.2%
Banks Industry Average Movement4.0%
Market Average Movement8.0%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.0%

Stable Share Price: CNOB is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: CNOB's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982411Frank Sorrentinohttps://www.connectonebank.com

ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts. It also provides consumer 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; other personal purpose loans; and commercial construction and real estate loans.

ConnectOne Bancorp Fundamentals Summary

How do ConnectOne Bancorp's earnings and revenue compare to its market cap?
CNOB fundamental statistics
Market CapUS$1.04b
Earnings (TTM)US$125.30m
Revenue (TTM)US$285.68m

8.2x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CNOB income statement (TTM)
RevenueUS$285.68m
Cost of RevenueUS$0
Gross ProfitUS$285.68m
Other ExpensesUS$160.37m
EarningsUS$125.30m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.18
Gross Margin100.00%
Net Profit Margin43.86%
Debt/Equity Ratio49.6%

How did CNOB perform over the long term?

See historical performance and comparison

Dividends

2.4%

Current Dividend Yield

17%

Payout Ratio

Valuation

Is ConnectOne Bancorp undervalued compared to its fair value and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: CNOB ($25.99) is trading below our estimate of fair value ($76.71)

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 (8.2x) compared to the US Banks industry average (9.7x).

PE vs Market: CNOB is good value based on its PE Ratio (8.2x) compared to the US market (15.5x).


Price to Earnings Growth Ratio

PEG Ratio: CNOB is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: CNOB is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.1x).


Future Growth

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

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CNOB's forecast earnings growth (3.6% per year) is above the savings rate (1.9%).

Earnings vs Market: CNOB's earnings (3.6% per year) are forecast to grow slower than the US market (12.4% per year).

High Growth Earnings: CNOB's earnings are forecast to grow, but not significantly.

Revenue vs Market: CNOB's revenue (5.8% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: CNOB's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CNOB's Return on Equity is forecast to be high in 3 years time


Past Performance

How has ConnectOne Bancorp performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


27.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CNOB has high quality earnings.

Growing Profit Margin: CNOB's current net profit margins (43.9%) are higher than last year (40.8%).


Past Earnings Growth Analysis

Earnings Trend: CNOB's earnings have grown significantly by 27% per year over the past 5 years.

Accelerating Growth: CNOB's earnings growth over the past year (28.2%) exceeds its 5-year average (27% per year).

Earnings vs Industry: CNOB earnings growth over the past year (28.2%) exceeded the Banks industry 20.9%.


Return on Equity

High ROE: CNOB's Return on Equity (11.3%) is considered low.


Financial Health

How is ConnectOne Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CNOB's Assets to Equity ratio (7.3x) is low.

Allowance for Bad Loans: CNOB has a sufficient allowance for bad loans (135%).

Low Risk Liabilities: 91% of CNOB's liabilities are made up of primarily low risk sources of funding.

Loan Level: CNOB has an appropriate level of Loans to Assets ratio (83%).

Low Risk Deposits: CNOB's Loans to Deposits ratio (105%) is appropriate.

Level of Bad Loans: CNOB has an appropriate level of bad loans (0.9%).


Dividend

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

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.39%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: CNOB's dividend (2.39%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: CNOB's dividend (2.39%) is low compared to the top 25% of dividend payers in the US market (4.07%).


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

Earnings Coverage: With its low payout ratio (16.6%), CNOB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Frank Sorrentino (59 yo)

7.83yrs

Tenure

US$3,068,986

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Frank's total compensation ($USD3.07M) is about average for companies of similar size in the US market ($USD3.83M).

Compensation vs Earnings: Frank's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CNOB's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: CNOB's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: ConnectOne Bancorp, Inc.
  • Ticker: CNOB
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$1.042b
  • Shares outstanding: 39.43m
  • Website: https://www.connectonebank.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/19 00:00
End of Day Share Price2022/05/19 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.