ConnectOne Bancorp ( (CNOB) ) just unveiled an update.
On May 6, 2025, ConnectOne Bancorp, Inc. and The First of Long Island Corporation announced they received FDIC approval for their merger, expected to close around June 1, 2025, pending further regulatory approvals. The merger will create a combined entity under the ConnectOne brand with approximately $14 billion in total assets, establishing it as one of the top 5 community banks on Long Island by deposit market share. This strategic move aims to leverage ConnectOne’s commercial expertise and infrastructure to serve First of Long Island’s client base, unlocking new opportunities for clients, employees, and stakeholders.
Spark’s Take on CNOB Stock
According to Spark, TipRanks’ AI Analyst, CNOB is a Outperform.
ConnectOne Bancorp’s overall score reflects strong financial performance, particularly in revenue growth and balance sheet strength. Technical indicators show mixed signals, with some short-term strength but long-term caution. Valuation is reasonable, supported by a solid dividend yield. The earnings call optimism, driven by significant net income growth and positive merger progress, enhances the outlook, although profitability pressures and loan portfolio challenges warrant vigilance.
To see Spark’s full report on CNOB stock, click here.
More about ConnectOne Bancorp
ConnectOne Bancorp, Inc. is a modern financial services company operating through its subsidiary, ConnectOne Bank, and its fintech subsidiary, BoeFly, Inc. ConnectOne Bank is a high-performing commercial bank offering a full suite of banking and lending products and services focused on small to middle-market businesses. BoeFly, Inc. is a fintech marketplace connecting borrowers in the franchise space with funding solutions through a network of partner banks. The First of Long Island Corporation is the parent company of The First National Bank of Long Island, which focuses on business and consumer needs on Long Island and in New York City, offering a broad set of lending, deposit, investment, and digital products.
Average Trading Volume: 200,622
Technical Sentiment Signal: Buy
Current Market Cap: $910.6M
For detailed information about CNOB stock, go to TipRanks’ Stock Analysis page.