ConnectOne Bancorp Posts 3Q EPS of 59 Cents
CNOB sits 33% above its 52-week low of $23.2.
Summary
ConnectOne Bancorp reported third-quarter EPS of 59 cents, with net income of $31.4 million on revenue of $127.2 million. That compares with $0.80 per share in Q2 2026, a step down sequentially, though the prior quarter included items that may not repeat. The quarter included a balance sheet restructuring and repositioning: the bank is selling up to $750 million of loans, a sale expected to close in late October, and took a $23 million charge. At a $1.55 billion market cap, a 21-cent sequential EPS decline is meaningful for a bank trading near $30.80. The conference call follows this morning; watch management's commentary on net interest margin and credit costs for whether the Q2 pace can be recovered.
At the time of this announcement, CNOB was trading at $30.80 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $23.20 to $34.14. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.