ConnectOne Bancorp Inc reports results for the quarter ended in September 30 - Earnings Summary

ConnectOne Bancorp

24/10/2024 17:21

* ConnectOne Bancorp Inc  CNOB.OQ  reported quarterly
adjusted
earnings of 43 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 51 cents.  The mean expectation of four analysts
for the quarter was for earnings of 44 cents per share. Wall
Street expected results to range from 43 cents to 45 cents per
share.
    * Revenue fell 2.4% to $60.89 million from a year ago;
analysts
expected $63.55 million. 
    * ConnectOne Bancorp Inc's reported EPS for the quarter was
41
cents​.
    * The company reported quarterly net income of $15.65
million.
    * ConnectOne Bancorp Inc shares had risen by 1.6% this
quarter and
gained 11.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for ConnectOne
Bancorp Inc is 28.50 
This summary was machine generated from LSEG data October 24 at
04:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.44           0.43           Missed
 Jun. 30 2024      0.41           0.46           Beat
 Mar. 31 2024      0.42           0.41           Missed
 Dec. 31 2023      0.45           0.46           Beat