A Business at a Glance
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ConnectOne Bancorp, Inc.
CNOB
$1.5B
Mkt Cap
$32.36
+3.06%
ConnectOne Bancorp, Inc. (CNOB) has a current P/E ratio of 19.9, compared to its historical median P/E of 10.6. The stock is currently considered Expensive based on its historical valuation range.
ConnectOne Bancorp, Inc. (CNOB) has a 5-year average return on invested capital (ROIC) of 8.0%. This is below average and may indicate limited pricing power.
ConnectOne Bancorp, Inc. (CNOB) has a market capitalization of $1.6B. It is classified as a small-cap stock.
Yes, ConnectOne Bancorp, Inc. (CNOB) pays a dividend with a trailing twelve-month yield of 2.10%. The company also returns capital through share buybacks, with a buyback yield of 0.15%.
Based on historical P/E analysis, ConnectOne Bancorp, Inc. (CNOB) appears expensive. The current P/E of 19.9 is 88% above its historical median of 10.6. The estimated fair value CAGR (P/E method) is -1.9%.
ConnectOne Bancorp, Inc. (CNOB) operates in the State Commercial Banks industry, within the Financials sector.
ConnectOne Bancorp, Inc. (CNOB) reported annual revenue of $680 million in its most recent fiscal year, based on SEC EDGAR filings.
Forward Looking Statements This report, in Item 1, Item 7 and elsewhere, includes forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933, as amended, and 21E of the Securities Exchange Act of 1934, as amended, that involve inherent risks and uncertainties. These forward-looking statements concern the financial condition, results of operations, plans, objectives, future performance and business of ConnectOne Bancorp, Inc. and its subsidiaries, including statements preceded by, followed by or that include words or phrases such as “believes,” “expects,” “anticipates,” “plans,” “trend,” “objective,” “continue,” “remain,” “pattern” or similar expressions or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 434M | 680M | 535M | 504M | 387M | 317M |
| Net Income | 92M | 74M | 68M | 81M | 119M | 129M |
| EPS | $1.83 | $1.63 | $1.76 | $2.07 | $3.01 | $3.22 |
| Free Cash Flow | 100M | 101M | 57M | 85M | 173M | 199M |
| ROIC | 0.0% | 4.9% | 5.5% | 6.8% | 10.3% | 12.3% |
| Gross Margin | - | 54.8% | 51.6% | 51.8% | 76.9% | 86.2% |
| Debt/Equity | 0.00 | 0.13 | 0.00 | 0.00 | 7.18 | 1.70 |
| Dividends/Share | $0.68 | $0.72 | $0.71 | $0.67 | $0.60 | $0.48 |
| Operating Income | 0 | 113M | 98M | 117M | 171M | 175M |
| Operating Margin | 0.0% | 16.6% | 18.4% | 23.2% | 44.2% | 55.1% |
| ROE | 5.8% | 5.3% | 5.5% | 6.8% | 10.3% | 12.6% |
| Shares Outstanding | 50M | 46M | 38M | 39M | 40M | 40M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 102M | 152M | 171M | 190M | 222M | 280M | 323M | 317M | 387M | 504M | 535M | 680M | 434M |
| Gross Margin | 80.8% | 76.1% | 59.2% | 77.7% | 63.9% | 66.6% | 65.5% | 86.2% | 76.9% | 51.8% | 51.6% | 54.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 19M | 28M | 31M | 35M | 40M | 49M | 59M | 64M | 81M | 88M | 90M | 111M | 122M |
| EBIT | 27M | 61M | 43M | 69M | 71M | 94M | 90M | 175M | 171M | 117M | 98M | 113M | 0 |
| Op. Margin | 27.0% | 40.3% | 25.0% | 36.1% | 32.1% | 33.6% | 28.0% | 55.1% | 44.2% | 23.2% | 18.4% | 16.6% | 0.0% |
| Net Income | 18M | 41M | 31M | 43M | 60M | 73M | 71M | 129M | 119M | 81M | 68M | 74M | 92M |
| Net Margin | 18.1% | 27.1% | 18.1% | 22.8% | 27.2% | 26.3% | 22.1% | 40.5% | 30.8% | 16.1% | 12.7% | 10.9% | 21.2% |
| Non-Recurring | 2.8M | 4.6M | 57K | 8K | -26K | 8K | 0 | 674K | 0 | 0 | -477K | -281K | -281K |
| Returns on Capital | |||||||||||||
| ROIC | 2.9% | 3.9% | 2.9% | 3.9% | 4.9% | 6.0% | 6.5% | 12.3% | 10.3% | 6.8% | 5.5% | 4.9% | 0.0% |
| ROE | 6.0% | 8.9% | 6.2% | 7.9% | 10.2% | 10.9% | 8.7% | 12.6% | 10.3% | 6.8% | 5.5% | 5.3% | 5.8% |
| ROA | 0.7% | 1.1% | 0.7% | 0.9% | 1.1% | 1.3% | 1.0% | 1.6% | 1.3% | 0.8% | 0.7% | 0.6% | 0.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 31M | 46M | 50M | 131M | 89M | 61M | 81M | 202M | 177M | 93M | 61M | 106M | 107M |
| Free Cash Flow | 29M | 42M | 47M | 128M | 87M | 59M | 79M | 199M | 173M | 85M | 57M | 101M | 100M |
| Owner Earnings | 29M | 43M | 45M | 126M | 84M | 55M | 74M | 194M | 166M | 82M | 50M | 88M | 51M |
| CapEx | 2.0M | 3.9M | 2.7M | 2.7M | 2.1M | 1.5M | 2.2M | 2.8M | 3.3M | 7.4M | 3.8M | 5.4M | 6.4M |
| Maint. CapEx | 1.5M | 2.3M | 2.7M | 3.2M | 3.1M | 3.1M | 4.2M | 3.8M | 5.5M | 5.9M | 5.7M | 14M | 51M |
| Growth CapEx | 447K | 1.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5M | 0 | 0 | 0 |
| D&A | 1.5M | 2.3M | 2.7M | 3.2M | 3.1M | 3.1M | 4.2M | 3.8M | 5.5M | 5.9M | 5.7M | 14M | 51M |
| CapEx/OCF | 6.5% | 8.4% | 5.4% | 2.0% | 2.3% | 2.5% | 2.7% | 1.4% | 1.9% | 8.0% | 6.2% | 5.1% | 6.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 6.9M | 9.0M | 9.1M | 9.6M | 9.7M | 12M | 14M | 17M | 23M | 26M | 27M | 32M | 34M |
| Dividend Yield | 2.0% | 1.9% | 2.0% | 1.5% | 1.4% | 1.8% | 2.5% | 1.8% | 2.4% | 3.8% | 3.4% | 2.9% | 2.1% |
| Share Buybacks | 0 | 0 | 0 | 180K | 0 | 13M | 911K | 9.4M | 13M | 17M | 5.8M | 0 | 2.4M |
| Buyback Yield | N/A | N/A | N/A | 0.0% | N/A | 1.6% | 0.1% | 0.8% | 1.5% | 2.0% | 0.7% | N/A | 0.1% |
| Stock-Based Comp | 223K | 747K | 2.1M | 1.8M | 1.9M | 2.9M | 2.9M | 4.5M | 4.9M | 4.9M | 4.6M | 4.6M | 4.8M |
| Debt Repayment | 7.5M | 5.1M | 15M | 4.5M | 4.4M | 8.2M | 37M | 9.2M | 0 | 0 | 0 | 3.7M | 3.7M |
| Balance Sheet | |||||||||||||
| Net Debt | 635M | 172M | 1.5B | 2.0B | 2.1B | 2.2B | 1.4B | 1.1B | N/A | -860M | -969M | -181M | -344M |
| Cash & Equiv. | 127M | 201M | 200M | 150M | 172M | 201M | 102M | 266M | 268M | 243M | 356M | 381M | 344M |
| Long-Term Debt | 496M | 672M | 476M | 670M | 600M | 500M | 37M | 9.2M | N/A | 0 | 0 | 200M | 200M |
| Debt/Equity | 2.84 | 1.66 | 3.34 | 3.84 | 3.75 | 3.28 | 2.23 | 1.70 | 7.18 | 0.00 | 0.00 | 0.13 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 446M | 477M | 531M | 565M | 614M | 731M | 915M | 1.1B | 1.2B | 1.2B | 1.2B | 1.6B | 1.6B |
| Total Assets | 3.4B | 4.0B | 4.4B | 5.1B | 5.5B | 6.2B | 7.5B | 8.1B | 9.6B | 9.9B | 9.9B | 14.0B | 14.2B |
| Total Liabilities | 3.0B | 3.5B | 3.9B | 4.5B | 4.8B | 5.4B | 6.6B | 7.0B | 8.5B | 8.6B | 8.6B | 12.4B | 12.6B |
| Intangibles | 4.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 72M | 105M | 126M | 160M | 211M | 272M | 332M | 440M | 536M | 591M | 631M | 674M | 701M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.79 | 1.36 | 1.01 | 1.34 | 1.86 | 2.07 | 1.79 | 3.22 | 3.01 | 2.07 | 1.76 | 1.63 | 1.83 |
| Owner EPS | 1.23 | 1.43 | 1.46 | 3.91 | 2.59 | 1.54 | 1.86 | 4.86 | 4.20 | 2.10 | 1.31 | 1.92 | 1.02 |
| Book Value | 19.10 | 15.76 | 17.27 | 17.53 | 18.92 | 20.62 | 22.98 | 28.14 | 29.77 | 31.10 | 32.25 | 34.47 | 31.65 |
| Cash Flow/Share | 1.31 | 1.53 | 1.62 | 4.07 | 2.74 | 1.71 | 2.04 | 5.06 | 4.46 | 2.37 | 1.58 | 2.33 | 2.84 |
| Dividends/Share | 0.30 | 0.30 | 0.30 | 0.30 | 0.30 | 0.36 | 0.27 | 0.48 | 0.60 | 0.67 | 0.71 | 0.72 | 0.68 |
| Shares Out. | 23.4M | 30.3M | 30.8M | 32.3M | 32.4M | 35.5M | 39.8M | 39.9M | 39.6M | 39.1M | 38.5M | 45.6M | 50.3M |
| Valuation | |||||||||||||
| P/E Ratio | 19.0 | 11.2 | 21.2 | 16.0 | 8.2 | 10.5 | 9.6 | 9.0 | 7.1 | 10.6 | 12.4 | 16.4 | 17.7 |
| P/FCF | 12.3 | 10.9 | 14.0 | 5.4 | 5.7 | 13.0 | 8.7 | 5.8 | 4.9 | 10.1 | 14.8 | 12.1 | 16.2 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 0.8 | 1.0 | 1.2 | 1.2 | 0.8 | 1.1 | 0.7 | 1.0 | 0.7 | 0.7 | 0.7 | 0.8 | 1.0 |
| Price/Sales | 3.9 | 3.6 | 3.2 | 4.2 | 4.2 | 3.4 | 2.3 | 3.5 | 3.1 | 2.5 | 3.1 | 2.8 | 3.8 |
| FCF Yield | 8.2% | 9.2% | 7.2% | 18.5% | 17.6% | 7.7% | 11.5% | 17.3% | 20.4% | 10.0% | 6.8% | 8.3% | 6.2% |
| Market Cap | 350M | 460M | 657M | 693M | 493M | 771M | 685M | 1.2B | 851M | 859M | 842M | 1.2B | 1.6B |
| Avg. Price | 14.65 | 15.37 | 14.43 | 19.83 | 21.10 | 18.55 | 14.47 | 24.20 | 24.82 | 17.54 | 21.07 | 23.74 | 32.36 |
| Year-End Price | 15.00 | 15.19 | 21.37 | 21.47 | 15.21 | 21.76 | 17.20 | 28.88 | 21.50 | 21.96 | 21.86 | 26.67 | 32.36 |
ConnectOne Bancorp, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
ConnectOne Bancorp, Inc. trades at 19.9x trailing earnings, compared to its 15-year median P/E of 10.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 16.1x vs a median of 9.4x. The company's 5-year average ROIC is 8.0% with a gross margin of 64.3%. Total shareholder yield (dividends + buybacks) is 2.2%. At current prices, the estimated annualized return to fair value is -2.5%.
ConnectOne Bancorp, Inc. (CNOB) has a net profit margin of 10.9%. This is a healthy margin.
ConnectOne Bancorp, Inc. (CNOB) generated $101 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ConnectOne Bancorp, Inc. (CNOB) has a debt-to-equity ratio of 0.13. This indicates a conservatively financed balance sheet.
ConnectOne Bancorp, Inc. (CNOB) reported earnings per share (EPS) of $1.63 in its most recent fiscal year.
ConnectOne Bancorp, Inc. (CNOB) has a return on equity (ROE) of 5.3%. This indicates moderate shareholder returns.
ConnectOne Bancorp, Inc. (CNOB) has a 5-year average gross margin of 64.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for ConnectOne Bancorp, Inc. (CNOB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ConnectOne Bancorp, Inc. (CNOB) has a book value per share of $34.47, based on its most recent annual SEC filing.