ConnectOne Bancorp, Inc. CNOB

FinancialsBanking ServicesUnited States of America

Last close 32.49 USD on Nov 3, 2026, +26.3% year to date

Quant rating

Quant rating B Rank 289 of 799 in Financials

Growth C 407 of 799
Valuation A 68 of 799
Quality D 660 of 799
Revisions C 352 of 799
Momentum B 200 of 799

Wall Street consensus Buy (1.80)Average target 37.40 USD +15.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.6B
Enterprise value: 1.9B
52-week range: 23.22 – 34.13
3-year range: 17.36 – 34.13
Dividend yield: 2.37%
Beta (5 years): 1.02
Shares outstanding: 50.3M
Next earnings: Jan 27, 2027

About the company

ConnectOne Bancorp, Inc. is a modern financial services company that operates, through its subsidiary, ConnectOne Bank (the Bank) and the Bank’s fintech subsidiary, BoeFly, Inc (BoeFly). ConnectOne Bank is a commercial bank offering a full suite of banking and lending products and services that focus on small to middle-market businesses. The Bank's offices are located primarily in the New York metro market and span New Jersey, New York City, Long Island, and the Hudson Valley, including Rockland, Orange, and Westchester counties. It offers a range of deposit and loan products. It also provides a range of other banking services. Its products and services include personal and business checking accounts, money market accounts, time and savings accounts, credit cards, safe deposit boxes, access to automated teller services and telephone, and others. BoeFly is a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	645	518	490	374	302	–
Revenue growth	24.5%	5.7%	31.1%	23.9%	−2.1%	15.9%
EPS (basic, normalized)	2.07	1.81	2.08	3.06	3.23	–
EPS growth	14.5%	−13.2%	−32.1%	−5.0%	9.3%	−6.9%
Gross margin	–	–	–	–	–	–
Net margin	11.5%	13.0%	16.5%	31.9%	42.5%	23.1%
ROE	8.6%	5.7%	6.8%	11.5%	12.6%	9.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	12.3%
Long-term debt (mil)	202
Net debt (mil)	–
Total equity (mil)	1,599
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	645	+24.5%	2.9x	29.09	−2.1%	1.1x	2.59	+43.1%	12.5x
2026	469	−27.3%	4.0x	30.86	+6.1%	1.1x	3.27	+26.4%	9.9x
2027	507	+8.2%	3.7x	33.84	+9.6%	1.0x	3.75	+14.5%	8.7x
2028	552	+8.7%	3.4x	36.59	+8.1%	0.9x	4.09	+9.1%	7.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	469	−0.7%	−0.8%	+2.0%	3.27	−0.6%	−0.6%	−0.5%
2027	507	−0.5%	−0.4%	+2.2%	3.75	+2.3%	+2.3%	+2.2%
2028	552	−7.2%	–	–	4.09	−4.9%	–	–

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	60.3	61.4	60.9	64.7	65.8	78.9	99.9	107	109	114
Sales mean (mil)	61.6	61.5	63.5	63.9	67.7	74.8	108	110	110	114
Surprise	−2.1%	−0.1%	−4.2%	+1.2%	−2.8%	+5.4%	−7.4%	−3.1%	−0.8%	−0.1%
EPS reported	0.41	0.46	0.43	0.52	0.51	0.55	0.70	0.83	0.79	0.84
EPS mean	0.42	0.41	0.44	0.43	0.46	0.55	0.67	0.73	0.73	0.82
Surprise	−1.6%	+11.4%	−2.5%	+20.5%	+10.9%	+0.7%	+4.1%	+14.0%	+8.8%	+2.9%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
CNOB ConnectOne Bancorp, Inc.	1.6B	12.3%	11.5%	0.99x	9.9x	8.7x	1.1x	1.0x
CFG Citizens Financial Group Inc	27.0B	11.8%	17.5%	1.30x	12.1x	9.9x	1.2x	1.1x
ONB Old National Bancorp	9.6B	11.5%	20.0%	1.14x	9.9x	9.0x	1.2x	1.0x
VLY Valley National Bancorp	7.9B	11.4%	17.6%	1.05x	11.0x	9.4x	1.0x	1.0x
EBC Eastern Bankshares Inc	5.1B	13.0%	7.6%	1.12x	11.9x	10.5x	1.2x	1.1x
FULT Fulton Financial Corporation	4.5B	12.8%	23.6%	1.12x	11.3x	9.9x	1.2x	1.1x
Mean		12.1%	16.3%	1.12x	11.0x	9.6x	1.1x	1.0x
Median		12.1%	17.5%	1.12x	11.2x	9.6x	1.2x	1.1x

Technical analysis

1M+5.6%
3M−2.4%
1Y+37.8%
3Y+90.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ConnectOne Bancorp, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	645	518	490	374	302	308
Total interest expense	292	271	235	71.6	38.9	70.2
Net interest income	353	247	255	302	263	238
Loan loss provision	47.0	13.8	8.2	17.8	−5.5	–
Net interest income after loan loss provision	306	234	247	284	268	238
Non-interest income	35.1	16.7	14.0	13.2	15.7	14.4
Non-interest expense	−229	−152	−144	−126	−109	−162
Net income before taxes	113	98.5	117	171	175	90.4
Provision for taxes	32.3	24.7	30.0	46.0	44.7	19.1
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	80.4	73.8	87.0	125	130	71.3
Extraordinary items	–	–	–	–	–	–
Net income	80.4	73.8	87.0	125	130	71.3
Basic weighted average shares (mil)	45.2	38.3	38.8	39.3	39.6	39.5
Diluted weighted average shares (mil)	45.4	38.5	39.0	39.5	39.9	39.6
Basic EPS excluding extraordinary items	1.64	1.77	2.08	3.04	3.24	1.80
Basic EPS, normalized	2.07	1.81	2.08	3.06	3.23	2.95

Balance sheet in millions of USD, fiscal years

Balance sheet, ConnectOne Bancorp, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	92.4	57.8	61.4	61.6	54.4	63.6
Other earning assets	1,614	973	868	918	788	771
Net loans	11,299	8,192	8,263	8,009	6,750	6,157
Property, plant & equipment	84.9	42.9	42.8	38.0	40.0	46.3
Goodwill	220	208	208	208	208	208
Intangibles	59.9	4.6	5.9	7.3	9.0	11.0
Long-term investments	–	–	–	–	–	–
Other long-term assets	–	–	–	–	–	–
Other assets	632	401	406	403	280	290
Total assets	14,003	9,880	9,856	9,645	8,129	7,547
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	32.4	15.5	13.2	11.4	12.4	18.0
Total deposits	11,241	7,820	7,536	7,357	6,333	5,959
Other bearing liabilities	903	688	934	858	468	426
Short-term borrowings	–	–	–	–	–	–
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	202	79.9	79.4	153	153	203
Minority interest	–	–	–	–	–	–
Other liabilities	50.9	34.3	76.6	87.3	38.8	26.2
Total liabilities	12,429	8,638	8,639	8,466	7,005	6,632
Shareholders' equity
Preferred stock	−4.1	−4.1	−4.1	−4.1	–	–
Common stock	858	587	587	587	587	587
Additional paid-in capital	38.8	36.3	33.2	30.1	27.2	23.9
Retained earnings (accumulated deficit)	674	631	591	536	440	332
Treasury stock	−76.1	−76.1	−70.3	−52.8	−39.7	−30.3
Other equity	83.1	67.2	79.9	82.6	110	2.8
Total equity	1,573	1,242	1,217	1,179	1,124	915
Total liabilities & shareholders' equity	14,003	9,880	9,856	9,645	8,129	7,547

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ConnectOne Bancorp, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	80.4	73.8	87.0	125	130	71.3
Depreciation, depletion & amortization	14.0	5.7	5.9	5.5	5.7	6.8
Deferred taxes	−2.8	−2.0	4.1	−0.4	0	−7.5
Non-cash items	−27.7	−1.8	−1.3	−0.7	−1.9	−7.5
Changes in working capital	42.5	−14.9	−2.9	47.1	68.1	18.0
Cash from operations	106	60.7	92.9	177	202	81.1
Investing activities
Capital expenditures	−5.4	−3.8	−7.4	−3.3	−2.8	−2.2
Other investing cash flows	−181	58.9	−241	−1,540	−687	−321
Cash from investing	−186	55.2	−248	−1,543	−690	−323
Financing activities
Financing cash flow items	17.2	37.1	254	1,412	417	286
Cash dividends paid	−38.0	−33.3	−31.9	−29.5	−19.2	−14.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	125	−5.8	−92.4	−13.0	51.6	72.8
Cash from financing	104	−2.1	130	1,369	449	345
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	24.4	114	−25.6	2.8	−38.2	102
Free cash flow	101	56.9	85.5	173	199	78.9

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.