ConnectOne Bancorp (CNOB) Misses Q3 Earnings and Revenue Estimates

Financial Performance - ConnectOne Bancorp reported quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.45 per share, and down from $0.51 per share a year ago, representing an earnings surprise of -6.67% [1] - The company posted revenues of $65.62 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.31%, compared to year-ago revenues of $65.92 million [1] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.49 on revenues of $70.14 million, and for the current fiscal year, it is $1.78 on revenues of $268.12 million [4] - The estimate revisions trend for ConnectOne is currently favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - The Banks - Northeast industry, to which ConnectOne belongs, is currently in the top 19% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [5] - Esquire Financial Holdings, Inc., another company in the same industry, is expected to report quarterly earnings of $1.32 per share, reflecting a year-over-year change of +12.8% [5]