Connectone Bancorp Inc Stock Price, News & Analysis

ConnectOne Bancorp reported a net income of $29.9 million for Q1 2022, down from $31.3 million in Q4 2021 and $33.0 million in Q1 2021. Diluted EPS fell to $0.75 from $0.79 and $0.82 in the prior quarters. The decline was attributed to increased noninterest expenses and a rise in provision for credit losses. However, net interest income rose 15.0% year-over-year to $70.8 million. The company announced a dividend increase to $0.155 per share for June 1, 2022, a 19.2% increase quarter-over-quarter and 40.9% year-over-year.

ConnectOne Bancorp, trading under the symbol CNOB, will release its first quarter results for 2022 before the market opens on April 28, 2022. A conference call will follow at 10:00 a.m. ET the same day, hosted by Chairman Frank Sorrentino III and CFO William S. Burns. Interested parties can join via dial-in at 1-201-689-8471 or access the audio webcast through the Company's website. A replay will be available shortly after the call and remain accessible until May 5, 2022.

ConnectOne Bank has joined the USDF Consortium, a group of FDIC-insured banks aiming to promote USDF, a tokenized deposit system. This membership aligns with ConnectOne's strategy to enhance commercial banking through innovative technology, enabling compliant blockchain transactions. Chairman & CEO, Frank Sorrentino III, emphasized the potential of blockchain in providing secure banking solutions. The Consortium aims to unlock blockchain's advantages, including faster and cost-effective digital transactions. ConnectOne is one of several banks collaborating to broaden the adoption of USDF for improved financial interactions.

ConnectOne Bancorp (Nasdaq: CNOB) reported a net income of $31.3 million for Q4 2021, slightly down from $32.1 million in Q3 2021 but up from $25.6 million in Q4 2020. Diluted EPS was $0.79, a decrease from $0.80 in Q3 2021 but an increase from $0.64 in Q4 2020. The company noted a significant net interest income increase of $9.1 million year-over-year, totaling $70.9 million. Asset quality improved, with nonperforming assets at 0.76% of total assets. Full-year net income reached $128.6 million, significantly higher than 2020. A cash dividend of $0.13 per share is set for March 1, 2022, enhancing shareholder returns.

ConnectOne Bancorp, Inc. (Nasdaq: CNOB) announced it will report its fourth-quarter financial results for 2021 on January 27, 2022, before market opening. A conference call with CEO Frank Sorrentino III and CFO William S. Burns will take place at 10:00 a.m. ET on the same day. Investors can join via dial-in or listen to an audio webcast on the company's website. A replay will be available after the call until February 3, 2022. ConnectOne Bancorp offers comprehensive banking services through ConnectOne Bank in New York and New Jersey.

ConnectOne Bancorp reported a net income of $32.1 million for Q3 2021, slightly down from $32.2 million in Q2 2021, but up from $24.8 million year-over-year. Diluted earnings per share were $0.80, a decrease of $0.01 from the previous quarter but an increase of $0.18 from the same quarter last year. The company also declared an 18% increase in cash dividends to $0.13 per share. Key metrics included a return on assets of 1.62% and a tangible book value per share increase of 4%.

ConnectOne Bancorp, trading under the symbol CNOB, is set to release its third-quarter financial results for the period ending September 30, 2021, on October 28, 2021, before market opening. The management, including Chairman Frank Sorrentino III and CFO William S. Burns, will hold a conference call at 10:00 a.m. ET on the same day to discuss the results. Investors can join the call using the dial-in number 201-689-8471 with access code 13723610, and an audio webcast will also be available on their website. A replay will be accessible after the call until November 4, 2021.

ConnectOne Bancorp, Inc. (NASDAQ: CNOB) has announced a public offering of 4 million depositary shares priced at $25 each, totaling gross proceeds of $100 million. Each share represents a 1/40th interest in its 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. An additional 600,000 shares may be purchased by underwriters. The proceeds will support general corporate purposes, including growth initiatives and regulatory capital for its Bank. The offering is expected to close on or about August 19, 2021.

ConnectOne Bancorp reported a net income of $32.2 million for Q2 2021, slightly down from $33.0 million in Q1 2021 but a significant increase from $14.8 million in Q2 2020. Diluted earnings per share were $0.81. The decline in net income was attributed to a $4.1 million decrease in the provision for credit losses, even as net interest income rose by $1.9 million. Additionally, the company declared a dividend of $0.11 per share, payable September 1, 2021.