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ConnectOne (CNOB) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, ConnectOne Bancorp (CNOB - Free Report) reported revenue of $65.62 million, down 0.5% over the same period last year. EPS came in at $0.42, compared to $0.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $67.87 million, representing a surprise of -3.31%. The company delivered an EPS surprise of -6.67%, with the consensus EPS estimate being $0.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ConnectOne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 57% versus the two-analyst average estimate of 55.9%.
Net Interest Margin (GAAP): 2.7% compared to the 2.8% average estimate based on two analysts.
Average Balance - Total interest-earning assets: $9.21 billion versus $9.23 billion estimated by two analysts on average.
Deposit, loan and other income: $1.82 million versus $1.85 million estimated by two analysts on average.
Net Interest Income (tax equivalent basis): $61.71 million versus the two-analyst average estimate of $64.33 million.
Net gains on sale of loans held-for-sale: $0.34 million versus $0.89 million estimated by two analysts on average.
Income on bank owned life insurance: $2.15 million versus the two-analyst average estimate of $1.86 million.
Total Noninterest Income: $4.74 million versus $4.09 million estimated by two analysts on average.
Shares of ConnectOne have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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ConnectOne (CNOB) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, ConnectOne Bancorp (CNOB - Free Report) reported revenue of $65.62 million, down 0.5% over the same period last year. EPS came in at $0.42, compared to $0.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $67.87 million, representing a surprise of -3.31%. The company delivered an EPS surprise of -6.67%, with the consensus EPS estimate being $0.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ConnectOne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 57% versus the two-analyst average estimate of 55.9%.
- Net Interest Margin (GAAP): 2.7% compared to the 2.8% average estimate based on two analysts.
- Average Balance - Total interest-earning assets: $9.21 billion versus $9.23 billion estimated by two analysts on average.
- Deposit, loan and other income: $1.82 million versus $1.85 million estimated by two analysts on average.
- Net Interest Income (tax equivalent basis): $61.71 million versus the two-analyst average estimate of $64.33 million.
- Net gains on sale of loans held-for-sale: $0.34 million versus $0.89 million estimated by two analysts on average.
- Income on bank owned life insurance: $2.15 million versus the two-analyst average estimate of $1.86 million.
- Total Noninterest Income: $4.74 million versus $4.09 million estimated by two analysts on average.
View all Key Company Metrics for ConnectOne here>>>Shares of ConnectOne have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.