earnings
confidence high
sentiment negative
materiality 0.65
ConnectOne Q3 EPS $0.41 down from $0.51 YoY; merger with First of Long Island on track
ConnectOne Bancorp, Inc.
2024-Q3 EPS reported
$1.27
- Net income available to common stockholders $15.7M, down 10% from Q2 ($17.5M) and 21% from Q3 2023 ($19.9M).
- Diluted EPS $0.41 ($0.46 Q2 2024, $0.51 Q3 2023); operating diluted EPS $0.42.
- Net interest margin (FTE) 2.67%, down 5 bps QoQ; expects 10+ bps Q4 expansion from Fed cuts.
- Provision for credit losses $3.8M ($2.5M Q2); NPAs $51.3M (0.53% of assets); criticized loans 2.23%.
- Declared $0.18/sh common dividend payable Dec 2; merger integration with First of Long Island progressing.