For its second fiscal quarter (ending June 30), ConnectOne Bancorp Inc (NASDAQ: CNOB) has reported a -10% decline in E.P.S. from $0.51 a year ago to $0.46 in the current quarter. However, this performance was $0.05 better than the consensus estimate of $0.41. E.P.S. were $1.84 for the latest four quarters through June 30 versus $2.60 for the same period a year ago — a decline of -29%.
Recent Price Action
ConnectOne Bancorp Inc (NASDAQ: CNOB) stock closed at $24.37 on 7/25/24 after a large increase of 4.9%. Moreover, this advance was accompanied by above average trading volume at 147% of normal. The stock has risen 7.4% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
CNOB is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
ConnectOne Bancorp has a current Value Trend Rating of C (High Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. ConnectOne Bancorp has a good Appreciation Score of 83 but a slightly negative Power Rating of 33, triggering the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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