Here's What Key Metrics Tell Us About ConnectOne (CNOB) Q2 Earnings

Group 1 - ConnectOne Bancorp reported revenue of $65.84 million for the quarter ended June 2024, a year-over-year decline of 2.1% [1] - The EPS for the same period was $0.46, down from $0.51 a year ago, but exceeded the consensus estimate of $0.40 by 15% [1][3] - The reported revenue surpassed the Zacks Consensus Estimate of $64.62 million, resulting in a surprise of +1.89% [1] Group 2 - Key performance metrics included an Efficiency Ratio of 55.7%, better than the average estimate of 57.6% [3] - The Net Interest Margin (GAAP) was reported at 2.7%, matching the average estimate [3] - Total Noninterest Income was $4.40 million, exceeding the average estimate of $3.96 million [3] Group 3 - ConnectOne's shares have returned +30.8% over the past month, contrasting with the Zacks S&P 500 composite's -0.3% change [4] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market [4]