Brief: ConnectOne Bancorp Q2 EPS USD -0.52

ConnectOne Bancorp

29/07/2025 12:00

Overview

ConnectOne Q2 net loss $21.8 mln, impacted by merger expenses and credit provisions

Operating net income $23.1 mln, reflecting strong core performance

Merger with FLIC boosts assets, loans, and deposits, forming $14 bln institution

Outlook

Company expects long-term benefits from FLIC merger integration

ConnectOne anticipates continued momentum in client onboarding

Result Drivers

MERGER EXPENSES - $30.7 mln in merger expenses impacted Q2 results, contributing to net loss

CREDIT LOSS PROVISION - $27.4 mln initial provision for credit losses due to FLIC merger

NET INTEREST INCOME - $13.1 mln increase in net interest income partially offset higher expenses

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
-$0.52
Q2 Net Income
-$20.29 mln
Q2 Net Interest Income
$78.88 mln
Q2 Loan Loss Provision
$35.70 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for ConnectOne Bancorp Inc is $30.00, about 18.3% above its July 28 closing price of $24.52

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX1Jln5r

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)