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ConnectOne Bancorp
(NASDAQ:CNOB)
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Rating:75Outperform
Price Target:
$37.00
▲(15.55% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by solid financial strength (strong cash flow, improved returns, and a de-levered balance sheet) and supportive valuation (low P/E with a dividend). This is tempered by revenue contraction and earnings-call risks around concentrated credit issues and rising deposit costs, while technicals indicate steady but not powerful momentum.
Positive Factors
Strong Cash Generation
Free cash flow closely matching net income supports earnings quality and provides internal funding for growth, dividends, or buybacks. The 29% improvement versus the prior period also strengthens financial flexibility, although historical cash-flow volatility remains relevant.
Negative Factors
Revenue Contraction and Margin Compression
Current profitability is strong, but declining revenue and a multi-year reduction in margins weaken confidence in earnings durability. The bank must convert loan and deposit growth into sustained top-line expansion while protecting spreads and controlling costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Free cash flow closely matching net income supports earnings quality and provides internal funding for growth, dividends, or buybacks. The 29% improvement versus the prior period also strengthens financial flexibility, although historical cash-flow volatility remains relevant.
Read all positive factors
ConnectOne Bancorp (CNOB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.61B
Dividend Yield2.35%
Average Volume (3M)322.17K
Price to Earnings (P/E)9.4
Beta (1Y)0.83
Revenue Growth44.64%
EPS Growth252.66%
CountryUS
Employees753
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.38
Shares Outstanding50,319,830
10 Day Avg. Volume257,289
30 Day Avg. Volume322,169
Financial Highlights & Ratios
PEG Ratio-1.08
Price to Book (P/B)0.84
Price to Sales (P/S)2.18
P/FCF Ratio13.09
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$37.50Price Target Upside17.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.26
Revenue Forecast (FY)$490.93M
ConnectOne Bancorp Business Overview & Revenue Model
Company Description
ConnectOne Bancorp, Inc. (CNOB) serves as the holding company for ConnectOne Bank, a financial institution providing a comprehensive array of commercial banking products and services. The bank caters to small and medium-sized businesses, local pro...
How the Company Makes Money
ConnectOne Bancorp primarily makes money through its banking subsidiary by earning interest and fees from providing loans, deposit services, and other banking products.
1) Net interest income (core earnings driver): The bank generates interest in...
ConnectOne Bancorp Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operating momentum picture: accelerating earnings, continued NIM expansion, strong loan and core deposit growth, improving efficiency, tangible book value and capital metrics, and technology-driven productivity gains. Credit issues related to a single rent-stabilized multifamily relationship produced a meaningful charge-off and temporarily raised non-performing assets and provisions, but management emphasized that the issue is concentrated (rent-stabilized loans ~5% of portfolio), largely addressed through reserves and workouts, and that underlying credit metrics remain sound. Deposit cost pressures and near-term allowance mechanics introduce some caution, but the operational and capital trends outweigh these discrete credit and funding headwinds.Positive Updates
Strong Quarterly Earnings and EPS Growth
Net income available to common of $40.2M, or $0.80 per share, up more than 10% sequentially from $36.3M ($0.72 per share) in Q1 2026.
Negative Updates
Material Charge-Off Related to Rent-Stabilized Relationship
Recorded a $13.8M charge-off tied to a single New York rent-stabilized multifamily relationship; $20M of the original $63.8M exposure was brought current and $44M moved to non-accrual before the charge-off actions.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Quarterly Earnings and EPS Growth
Net income available to common of $40.2M, or $0.80 per share, up more than 10% sequentially from $36.3M ($0.72 per share) in Q1 2026.
Read all positive updates
Company Guidance
Guidance centered on continued margin and earnings momentum: management maintained year‑end spot NIM guidance of 3.50% (current NIM 3.42%) and expects further NIM widening through the rest of 2026 and into 2027 driven by loan repricing (YTD ~ $700M repriced, ~ $100M/month; ~20% of those paid off, ~80% retained at a weighted‑avg rate increase of 255 bps; roughly $1.5B more to reprice with ~ $500M coming in early‑2028), while noting deposit costs have begun to rise (CDs ~4%) but that repricing should outweigh those increases. Other forward metrics: management’s internal model forecasts ~1.5% sequential balance growth in each of the next two quarters (driven by staffing), they expect mid‑single‑digit loan growth for 2026, higher non‑interest income in H2, and continued efficiency/expense discipline; capital actions remain flexible with a $0.195 quarterly dividend (payout in the mid‑20% range) and opportunistic buybacks (550,000 shares remaining under authorization).ConnectOne Bancorp Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 612.30M | 606.47M | 534.62M | 504.07M | 386.99M | 316.75M |
| Gross Profit | 277.48M | 267.86M | 250.26M | 260.91M | 297.61M | 283.39M |
| EBITDA | 120.68M | 126.75M | 104.12M | 122.90M | 176.77M | 180.79M |
| Net Income | 159.98M | 80.44M | 73.79M | 87.00M | 125.21M | 130.35M |
Balance Sheet | ||||||
| Total Assets | 14.41B | 14.00B | 9.88B | 9.86B | 9.64B | 8.13B |
| Cash, Cash Equivalents and Short-Term Investments | 1.22B | 1.34B | 360.70M | 859.88M | 903.20M | 800.04M |
| Total Debt | 32.93M | 1.17B | 783.51M | 1.03B | 1.02B | 633.56M |
| Total Liabilities | 12.79B | 12.43B | 8.64B | 8.64B | 8.47B | 7.01B |
| Stockholders Equity | 1.63B | 1.57B | 1.24B | 1.22B | 1.18B | 1.12B |
Cash Flow | ||||||
| Free Cash Flow | 128.71M | 101.01M | 56.91M | 85.46M | 173.48M | 199.49M |
| Operating Cash Flow | 134.84M | 106.40M | 60.70M | 92.89M | 176.78M | 202.27M |
| Investing Cash Flow | -638.77M | -186.16M | 55.15M | -248.04M | -1.54B | -689.86M |
| Financing Cash Flow | 269.68M | 104.17M | -2.08M | 129.55M | 1.37B | 449.37M |
ConnectOne Bancorp Technical Analysis
Neutral
32.02
Price Trends
32.63
Negative
31.01
Positive
28.55
Positive
Market Momentum
-0.14
Positive
41.86
Neutral
16.08
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNOB, the sentiment is Neutral. The current price of 32.02 is below the 20-day moving average (MA) of 32.64, below the 50-day MA of 32.63, and above the 200-day MA of 28.55, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 41.86 is Neutral, neither overbought nor oversold. The STOCH value of 16.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CNOB.
ConnectOne Bancorp Risk Analysis
ConnectOne Bancorp disclosed 24 risk factors in its most recent earnings report. ConnectOne Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ConnectOne Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $1.65B | 11.86 | 12.70% | 0.28% | 6.17% | 27.24% | |
78 Outperform | $1.73B | 11.49 | 11.75% | 1.14% | 2.81% | 23.43% | |
77 Outperform | $1.65B | 14.45 | 11.44% | 2.02% | -2.69% | 2.86% | |
75 Outperform | $1.61B | 9.45 | 10.11% | 2.27% | 44.64% | 252.66% | |
74 Outperform | $1.34B | 12.80 | 12.31% | 3.08% | -8.51% | -5.30% | |
68 Neutral | $1.76B | 48.59 | 4.09% | ― | 9.21% | 234.88% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
CNOB
ConnectOne Bancorp
31.93
7.06
28.38%
QCRH
QCR Holdings
100.77
22.51
28.76%
RBCAA
Republic Bancorp
93.94
18.86
25.12%
WABC
Westamerica Bancorporation
58.23
9.95
20.61%
TFIN
Triumph Financial
71.92
10.24
16.60%
BY
Byline Bancorp
38.26
9.63
33.65%
ConnectOne Bancorp Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
ConnectOne Bancorp Updates Investors with New July Presentation
Neutral
Jul 28, 2026
ConnectOne Bancorp released an investor presentation in July 2026, providing shareholders and analysts with updated materials on the company. The presentation was filed as an exhibit, indicating an effort to enhance transparency and maintain engag...
Financial Disclosures
ConnectOne Bancorp Schedules Second-Quarter 2026 Results Release
Neutral
Jul 9, 2026
ConnectOne Bancorp, Inc., parent of ConnectOne Bank and fintech marketplace BoeFly, operates as a commercial banking and financial services provider focused on small and mid-sized business clients, and its shares trade on the Nasdaq Global Market ...
Executive/Board ChangesShareholder Meetings
ConnectOne Bancorp Shareholders Approve 2026 Equity Incentive Plan
Positive
May 20, 2026
At its annual reorganizational meeting, ConnectOne Bancorp appointed Elizabeth Magennis as President of the holding company, formalizing her leadership role alongside her existing positions as President of ConnectOne Bank and director on both boar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.