CONNECTONE BANCORP INC (CNOB)
US20786W1071 - Common Stock
We assign a fundamental rating of 4 out of 10 to CNOB. CNOB was compared to 412 industry peers in the Banks industry. While CNOB seems to be doing ok healthwise, there are quite some concerns on its profitability. CNOB is valued correctly, but it does not seem to be growing. Finally CNOB also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
CNOB had positive earnings in the past year.
CNOB had a positive operating cash flow in the past year.
In the past 5 years CNOB has always been profitable.
In the past 5 years CNOB always reported a positive cash flow from operatings.
1.2 Ratios
CNOB has a Return On Assets (0.82%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 6.64%, CNOB is doing worse than 70.39% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.82% | ||
| ROE | 6.64% | ||
| ROIC | N/A |
ROA(3y)1.21%
ROA(5y)1.15%
ROE(3y)9.39%
ROE(5y)9.18%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
CNOB has a better Profit Margin (30.01%) than 75.97% of its industry peers.
In the last couple of years the Profit Margin of CNOB has declined.
CNOB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 30.01% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.22%
PM growth 5Y-4.08%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
CNOB does not have a ROIC to compare to the WACC, probably because it is not profitable.
CNOB has less shares outstanding than it did 1 year ago.
CNOB has more shares outstanding than it did 5 years ago.
CNOB has a better debt/assets ratio than last year.
2.2 Solvency
CNOB has a debt to FCF ratio of 0.93. This is a very positive value and a sign of high solvency as it would only need 0.93 years to pay back of all of its debts.
CNOB has a Debt to FCF ratio of 0.93. This is in the better half of the industry: CNOB outperforms 77.43% of its industry peers.
A Debt/Equity ratio of 0.07 indicates that CNOB is not too dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.07, CNOB belongs to the best of the industry, outperforming 80.83% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | 0.93 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC15.3%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
CNOB shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -31.46%.
The Earnings Per Share has been decreasing by -2.00% on average over the past years.
Looking at the last year, CNOB shows a very negative growth in Revenue. The Revenue has decreased by -14.67% in the last year.
Measured over the past years, CNOB shows a quite strong growth in Revenue. The Revenue has been growing by 10.56% on average per year.
EPS 1Y (TTM)-31.46%
EPS 3Y-0.79%
EPS 5Y-2%
EPS growth Q2Q-41.77%
Revenue 1Y (TTM)-14.67%
Revenue growth 3Y2.16%
Revenue growth 5Y10.56%
Revenue growth Q2Q-19%
3.2 Future
Based on estimates for the next years, CNOB will show a small growth in Earnings Per Share. The EPS will grow by 5.14% on average per year.
The Revenue is expected to grow by 6.07% on average over the next years.
EPS Next Y-10.04%
EPS Next 2Y5.14%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.2%
Revenue Next 2Y6.07%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 9.20, the valuation of CNOB can be described as reasonable.
CNOB's Price/Earnings ratio is in line with the industry average.
CNOB is valuated cheaply when we compare the Price/Earnings ratio to 28.06, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 10.22, the valuation of CNOB can be described as reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as CNOB.
CNOB's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 20.72.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.2 | ||
| Fwd PE | 10.22 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as CNOB.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.56 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y5.14%
EPS Next 3YN/A
5. Dividend
5.1 Amount
CNOB has a Yearly Dividend Yield of 3.78%. Purely for dividend investing, there may be better candidates out there.
CNOB's Dividend Yield is comparable with the industry average which is at 3.84.
Compared to an average S&P500 Dividend Yield of 2.41, CNOB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.78% |
5.2 History
The dividend of CNOB is nicely growing with an annual growth rate of 22.24%!
CNOB has been paying a dividend for at least 10 years, so it has a reliable track record.
CNOB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)22.24%
Div Incr Years5
Div Non Decr Years13
5.3 Sustainability
CNOB pays out 39.56% of its income as dividend. This is a sustainable payout ratio.
CNOB's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP39.56%
EPS Next 2Y5.14%
EPS Next 3YN/A
CONNECTONE BANCORP INC
NASDAQ:CNOB (5/2/2024, 7:00:00 PM)
After market: 19.04 0 (0%)19.04
+0.49 (+2.64%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap731.14M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.78% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.2 | ||
| Fwd PE | 10.22 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.82% | ||
| ROE | 6.64% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 30.01% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-31.46%
EPS 3Y-0.79%
EPS 5Y
EPS growth Q2Q
EPS Next Y-10.04%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-14.67%
Revenue growth 3Y2.16%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y