ConnectOne (CNOB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
ConnectOne Bancorp (CNOB) reported $66.03 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 19%. EPS of $0.50 for the same period compares to $0.79 a year ago.
The reported revenue represents a surprise of +0.82% over the Zacks Consensus Estimate of $65.5 million. With the consensus EPS estimate being $0.47, the EPS surprise was +6.38%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 53.4% versus 55% estimated by two analysts on average.
Average Balance - Total interest-earning assets: $9.17 billion versus the two-analyst average estimate of $9.13 billion.
Net Interest Margin (GAAP): 2.7% compared to the 2.7% average estimate based on two analysts.
Deposit, loan and other income: $1.55 million versus the two-analyst average estimate of $1.83 million.
Net Interest Income(FTE): $62.63 million versus $61.57 million estimated by two analysts on average.
Net gains on sale of loans held-for-sale: $0.47 million compared to the $0.79 million average estimate based on two analysts.
Income on bank owned life insurance: $1.64 million versus the two-analyst average estimate of $1.82 million.
Total Noninterest Income: $4.21 million versus the two-analyst average estimate of $3.93 million.
View all Key Company Metrics for ConnectOne here>>>
Shares of ConnectOne have returned -0.3% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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ConnectOne Bancorp, Inc. (CNOB) : Free Stock Analysis Report
