ConnectOne Bancorp, Inc.
- Open
- 33.32
- Day high
- 33.73
- Day low
- 32.63
- Prev close
- 33.44
- Volume
- 148K
- Mkt cap
- $1.7B
- P/E (TTM)
- 16.7
- EPS (TTM)
- $2.01
- P/B
- 1.1
- P/S
- 2.3
- Yield
- 2.18%
- Per share
- $0.73
- ▲Insiders net buying $32K over the last 3 months (2 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
ConnectOne Bancorp, Inc. (CNOB) is a Financial Services company listed on NASDAQ. The stock is up 39% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4).
ConnectOne Bancorp, Inc. (CNOB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CNOB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.73 | $0.79 | +8.2% | $117M | +1.0% |
| Jan 29, 2026 | $0.74 | $0.83 | +12.2% | $109M | -6.4% |
| Oct 30, 2025 | $0.65 | $0.70 | +7.7% | $121M | +9.4% |
| Jul 29, 2025 | $0.52 | $0.55 | +5.8% | $84M | -24.3% |
| Apr 24, 2025 | $0.46 | $0.51 | +10.9% | $70M | +2.2% |
| Jan 30, 2025 | $0.42 | $0.52 | +23.8% | $68M | +5.3% |
| Oct 24, 2024 | $0.44 | $0.43 | -2.3% | $66M | +3.3% |
| Jul 25, 2024 | $0.41 | $0.46 | +12.2% | $66M | +7.1% |
| Apr 25, 2024 | $0.42 | $0.41 | -2.4% | $64M | +4.1% |
| Jan 25, 2024 | $0.45 | $0.46 | +2.2% | $66M | +4.8% |
| Oct 26, 2023 | $0.50 | $0.51 | +2.0% | $66M | +3.9% |
| Jul 27, 2023 | $0.48 | $0.51 | +6.3% | $67M | +6.4% |
CNOB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | Moise Anson M.director | Buy | 860 | $33.19 |
| Jun 9, 2026 | Moise Anson M.director | Buy | 120 | $30.96 |
| Jun 3, 2026 | Nukk-Freeman Katherindirector | Grant | 2,528 | — |
| Jun 3, 2026 | QUICK PETERdirector | Grant | 2,528 | — |
| Jun 3, 2026 | MINOIA NICHOLASdirector | Grant | 2,528 | — |
| Jun 3, 2026 | Kempner Michael Wdirector | Grant | 2,528 | — |
| Jun 3, 2026 | Rifkin Daniel Edirector | Grant | 2,528 | — |
| Jun 3, 2026 | O'Donnell Susan Cdirector | Grant | 2,528 | — |
| Jun 3, 2026 | Moise Anson M.director | Grant | 2,528 | — |
| Jun 3, 2026 | Haye Edward J.director | Grant | 2,528 | — |
| Jun 3, 2026 | Boswell Stephen T.director | Grant | 2,528 | — |
| Jun 3, 2026 | BECKER CHRISTOPHERdirector | Grant | 2,528 | — |
| Jun 3, 2026 | BAIER FRANK Wdirector | Grant | 2,528 | — |
| Mar 27, 2026 | Burns William Sofficer: Senior EVP & CFO | Tax | 2,578 | $26.27 |
| Mar 27, 2026 | Sorrentino Frank IIIdirector, officer: Chairman & CEO | Grant | 19,205 | — |
Source: CNOB SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full CNOB insider & 13F page →ConnectOne Bancorp, Inc. company profile
Overview
ConnectOne Bancorp, Inc. (NASDAQ:CNOB) is a regional bank holding company founded in 1982 and headquartered in Englewood Cliffs, New Jersey. Originally incorporated as Center Bancorp, Inc., the company rebranded to ConnectOne Bancorp in July 2014. The bank operates ConnectOne Bank, which serves small and mid-sized businesses, local professionals, and individual consumers across the Northern New Jersey and New York Metropolitan area, as well as South Florida markets. With approximately $9.9 billion in total assets as of late 2024, ConnectOne has established itself as a relationship-focused community bank emphasizing personalized service and local market expertise. The company is currently in the process of merging with First National Bank of Long Island, a transaction expected to close in the second quarter of 2025 that will create a combined entity with approximately $15 billion in assets.
Business
ConnectOne operates in the regional banking industry, which sits between large national banks and small community banks in terms of size and geographic reach. Regional banks like ConnectOne typically focus on specific metropolitan areas or states, offering more personalized service than national banks while maintaining greater resources than purely local institutions. The company's core business revolves around traditional commercial banking services. ConnectOne Bank provides a comprehensive suite of financial products including personal and business checking accounts, savings accounts, money market accounts, retirement accounts, and certificates of deposit. On the lending side, the bank offers commercial business loans (both secured and unsecured), commercial real estate mortgages, residential mortgages, home equity loans, construction loans, and various personal loans including bridge financing. Beyond basic banking, ConnectOne provides treasury management services to business clients, including wire transfers, automated clearing house (ACH) services, remote deposit capture, and cash management solutions. The bank also offers modern digital banking platforms, mobile banking applications, and maintains a network of ATMs and physical branch locations. The bank operates through approximately 23 banking offices strategically located across its target markets: eight offices in Bergen County, New Jersey; five in Union County; and additional locations in Morris, Essex, Hudson, and Monmouth counties in New Jersey. In New York, ConnectOne maintains offices in Manhattan, Nassau County on Long Island, Astoria, and five branches in the Hudson Valley region. The company also operates one financial center in West Palm Beach, Florida, representing its expansion into the South Florida market. ConnectOne has been investing in financial technology partnerships and platforms to enhance its service delivery. Notable initiatives include partnerships with MANTL for digital deposit account opening, BoeFly for business lending marketplace services, and various SBA (Small Business Administration) lending platforms. These technology investments aim to streamline operations and expand the bank's reach beyond traditional geographic boundaries while maintaining its relationship-focused approach.
Revenue model
ConnectOne generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This represents the traditional banking model where the institution acts as a financial intermediary, collecting deposits from savers and lending those funds to borrowers at higher interest rates. The bank's loan portfolio serves as its primary earning asset, with commercial real estate loans, commercial and industrial (C&I) loans, and residential mortgages comprising the majority of interest-earning assets. Loan yields have been trending upward, with recent pipeline rates around 7.25-7.40% as of early 2025. The bank maintains approximately 20% of its loan portfolio in floating-rate instruments, which provides some protection against interest rate fluctuations. Deposit funding represents the bank's primary source of funds, with customer deposits providing a relatively low-cost funding base compared to wholesale borrowings. ConnectOne focuses on building relationships with commercial clients who maintain both lending and deposit relationships, creating cross-selling opportunities and improving overall profitability per customer. The bank also generates noninterest income through various fee-based services including treasury management fees, loan origination fees, deposit account service charges, and income from its investment in business lending platforms like BoeFly. While smaller than interest income, these revenue streams provide diversification and often carry higher margins. Several factors significantly impact ConnectOne's profitability margins. Interest rate environment is the most critical factor - rising rates generally benefit the bank's net interest margin as loan yields increase faster than deposit costs, while falling rates can compress margins. Credit quality directly affects profitability through loan loss provisions; economic downturns or specific industry stress can increase charge-offs and reduce net income. Competition for deposits in the bank's markets affects funding costs, as aggressive pricing by competitors can force ConnectOne to raise deposit rates to retain customers. Regulatory changes can impact both operational costs and allowable activities, while economic conditions in the New York metropolitan area and South Florida markets directly influence loan demand and credit performance. The bank's focus on commercial real estate lending makes it particularly sensitive to local real estate market conditions and regulatory scrutiny of CRE concentrations.
Competitive moat
ConnectOne's competitive moat is moderate but not particularly deep, typical of regional banks operating in competitive metropolitan markets. The bank's primary defensive characteristics center around its established customer relationships and local market expertise in the New York metropolitan area and South Florida. The company's relationship banking model provides some customer stickiness, as business clients often value personalized service and local decision-making that larger national banks cannot easily replicate. ConnectOne's management emphasizes knowing their customers personally and making credit decisions locally, which can be particularly valuable for small and mid-sized businesses that may not fit standardized underwriting models of larger institutions. Geographic market knowledge represents another modest competitive advantage. The bank's deep understanding of local real estate markets, business ecosystems, and regulatory environments in Northern New Jersey, New York City, Long Island, and South Florida provides some edge in credit underwriting and business development. This local expertise is difficult for out-of-market competitors to replicate quickly. However, ConnectOne faces significant competitive pressures that limit its moat strength. Banking is fundamentally a commoditized industry where products and services are largely standardized. Large national banks can offer similar or superior digital platforms, broader product suites, and more competitive pricing due to their scale advantages. Fintech disruption continues to erode traditional banking relationships, particularly in payments, lending, and deposit gathering. The bank's commercial real estate focus creates both opportunity and vulnerability. While CRE expertise provides differentiation, it also exposes the bank to regulatory scrutiny and concentration risk. Interest rate sensitivity affects all banks similarly, limiting any sustainable competitive advantage from asset-liability management. Potential disruption comes from multiple sources: large banks with superior technology and scale, fintech companies offering specialized services, credit unions with tax advantages, and online banks with lower cost structures. The pending merger with First National Bank of Long Island may strengthen the combined entity's market position and efficiency, but it also introduces integration risks and may dilute some of the relationship-focused culture that represents ConnectOne's primary competitive differentiator.
Risks & safety
ConnectOne demonstrates adequate financial stability with some areas of strength and moderate concern regarding interest rate sensitivity and commercial real estate concentration. • Liquidity and Solvency: Strong cash position with $356 million in cash and short-term investments as of Q4 2024. The bank maintains over 250% coverage of uninsured deposits and has access to various funding sources including Federal Home Loan Bank advances and potential brokered deposits. • Capital Ratios: Tangible common equity ratio of approximately 9.5% provides reasonable buffer above regulatory minimums. Total capital ratios remain well above "well-capitalized" thresholds. • Debt Levels: Debt-to-equity ratio of 0.63 is manageable for a bank, though the company plans to raise $100-175 million in subordinated debt in 2025 to support the pending merger. • Valuation Metrics: Trading at 0.70x price-to-book ratio and 10.8x price-to-earnings ratio as of Q4 2024, suggesting reasonable valuation relative to book value and earnings. • Credit Quality: Nonaccrual loans represent a small percentage of total loans, though criticized and classified loans increased to 2.79% of total loans in Q1 2025. 30-89 day delinquencies remain low at 0.18%. • Interest Rate Risk: Moderate asset sensitivity with approximately 20% floating rate loans provides some protection, but net interest margin remains vulnerable to rate cycle changes. • Concentration Risk: Heavy commercial real estate exposure creates vulnerability to CRE market downturns and regulatory scrutiny, though the pending merger will reduce CRE concentration by approximately 5 percentage points.
Recent development
ConnectOne has pursued several strategic initiatives over the past few years focused on geographic expansion, technology enhancement, and operational efficiency. The most significant development is the pending merger with First National Bank of Long Island, announced in 2024 and expected to close in Q2 2025. This transaction will create a combined entity with approximately $15 billion in assets and is projected to generate $24 million in annual cost savings while reducing commercial real estate concentration and improving the deposit mix. The bank has made substantial technology investments to modernize its service delivery and expand market reach. Key partnerships include the implementation of MANTL's omnichannel deposit origination platform, which enables digital account opening capabilities, and continued investment in BoeFly, a business lending marketplace that facilitates loan referrals and SBA lending. ConnectOne has also been developing venture-focused banking services through partnerships and exploring automated underwriting capabilities. Geographic expansion has been another focus area, with the bank establishing a presence in Southeast Florida and Eastern Long Island markets. The company has strategically recruited experienced banking professionals from competitors, particularly during periods of market disruption, to build out specialized lending teams including healthcare lending capabilities. ConnectOne has been refining its business model toward relationship-based banking while reducing exposure to non-relationship loans. Management has emphasized growing commercial and industrial (C&I) lending, which represented nearly half of loan production in recent quarters, while being more selective in commercial real estate lending. The bank has also focused on growing core deposits from existing and new client relationships rather than relying on more expensive brokered deposits. Operational improvements include ongoing expense management initiatives and preparation for the merger integration. The company has maintained its efficiency ratio below 40% while investing in technology and talent acquisition. Recent quarters have shown improving net interest margins as the bank benefits from higher-yielding loan originations and expects further margin expansion following the merger completion.
CNOB company profile · for informational purposes only — not investment advice.
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