CNOB Earnings Prediction
The chart below shows how CNOB performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CNOB sees a -1.10% change in stock price 10 days leading up to the earnings, and a +1.43% change 10 days following the report. On the earnings day itself, the stock moves by -0.97%. This data can give you a slight idea of what to expect for the next quarter's release.
CNOB Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
59.08M
-3.39%
-2.81%
Gross Margin
--
--
--
Operating Margin
39.76%
-15.89%
-6.86%
Net Margin
29.05%
-17.00%
-7.34%
EPS
0.41
-19.61%
-10.87%
No Data Available
CNOB Earnings Analysis
Center Bancorp Inc Corporation (CNOB.O) Earnings Conference Call
Positive
Merger Impact on Assets: The merger with First of Long Island Corporation is expected to close during the first half of 2025, enhancing ConnectOne's asset base to over $14 billion and loans and deposits to $11 billion.
Strategic Growth Synergies: The transaction is anticipated to create meaningful synergies and significantly enhance the platform for continued growth.
Client Deposit Growth: Average client deposits increased by approximately $100 million to $130 million, or 8% on an annualized basis, contributing positively to the overall financial health.
Net Interest Margin Increase: The net interest margin ended the quarter wider, up 10 basis points, benefiting from the Fed's 50 basis point cut in September.
Credit Quality Improvement: ConnectOne's credit quality remains sound, with a significant reduction in non-accrual loans, indicating effective management of loan portfolios.
Negative
Net Interest Margin Decline: The company reported a decline in net interest margin, which was flat on a core basis, indicating no improvement in profitability despite a favorable rate environment.
Muted Loan Growth Outlook: Loan growth is expected to be muted in the next two quarters, suggesting a slowdown in business activity and potential revenue generation.
Client Deposit Shift: The average client deposits increased by approximately $100 million to $130 million, but this was offset by a decline in average broker deposits of $60 million, indicating a shift in funding sources.
Loan Portfolio Reduction Impact: There was a slight reduction in the loan portfolio this quarter, which does not reflect the overall growth strategy and may impact future earnings.
Deposit Growth Challenges: The company is facing competitive pressures that could slow down deposit growth, particularly in a decreasing rate environment.
CNOB FAQs
How does CNOB typically perform around its earnings report dates?
Is ConnectOne Bancorp, Inc. (CNOB) Q3 2024 Earnings Call Summary positive or negative?
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CNOB Earning Call Sentiment
ConnectOne Bancorp, Inc. (CNOB) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CNOB.O
1.83%Positive
The earnings call presents a mixed picture. Financial performance shows positive deposit growth and improved balance sheet mix, but flat net interest margin and increased criticized loans raise concerns. The merger with First of Long Island Corporation offers growth potential but carries risks. The Q&A session revealed muted loan growth expectations and vague responses on key issues. No explicit shareholder return plan was discussed. Overall, the positive and negative factors balance out, leading to a neutral outlook for the stock price over the next two weeks.
