ConnectOne Bancorp Q2 adjusted EPS beats estimates on loan, deposit growth

ConnectOne Bancorp

23/07/2026 12:11

    

    Overview
  
U.S. commercial bank's Q2 adjusted EPS beat analyst expectations
Net interest income rose yr/yr, driven by loan and core deposit growth
Q2 results aided by higher net interest income, lower expenses, offset by higher credit loss provision

    

    Outlook
  
Company expects full-year 2026 effective tax rate of about 28%
ConnectOne sees opportunities for growth for the balance of the year and beyond

    

    Result Drivers
  
LOAN AND DEPOSIT GROWTH - Sequential loan growth of 5% and core deposit growth of 8% annualized supported higher net interest income
NET INTEREST MARGIN EXPANSION - Net interest margin widened to 3.42%, benefiting from loan repricing and higher yields on interest-earning assets
HIGHER CREDIT LOSS PROVISION - Provision for credit losses rose due to a $13.8 mln charge-off on New York City multi-family loans, partly offset by reserve releases

    
Company press release: ID:nGNX83WRwW

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Adjusted EPS
Beat
$0.84
$0.82 (5 Analysts)
Q2 Loss Per Share
 
$0.80
 
Q2 Net Interest Income
 
$113.64 mln
 
Q2 Loan Loss Provision
 
$8.30 mln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $35.00, about 6.1% above its July 22 closing price of $33.00
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

    

    Reuters Recommended Reads
  
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July 22 - Cathay General Bancorp Q2 net income rises on higher net interest margin
July 21 - Capital One second-quarter profit rises on higher interest income

    
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(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.)