Connectone Bancorp Stock Intrinsic Value – Wedge Capital Management L L P NC Invests $2.92 Million in ConnectOne Bancorp, in 2023.
March 31, 2023
Trending News ☀️
CONNECTONE ($NASDAQ:CNOB): The news of Wedge Capital Management L L P NC investing $2.92 million in ConnectOne Bancorp, Inc. in 2023 has been officially announced. ConnectOne Bancorp, Inc. is a community-based bank that specializes in providing financial services to a variety of clients, including individuals, businesses and nonprofit organizations. The company offers savings, checking, and loan products, as well as online banking services. ConnectOne Bancorp, Inc. is committed to providing superior customer service and tailored financial solutions to meet the needs of its customers.
The new investment from Wedge Capital Management L L P NC is expected to provide ConnectOne Bancorp, Inc. with the necessary resources to continue its mission of serving the needs of its customers while also expanding its product and service offerings. This investment marks a major step forward in the company’s growth and progress, and it is sure to bring even more success to ConnectOne Bancorp, Inc. in the future.
Market Price
Unfortunately, the stock of CONNECTONE BANCORP opened at $18.4 and closed at $17.7 on Monday, down by 1.6% from its last closing price of $18.0. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Connectone Bancorp. More…
| Total Revenues | Net Income | Net Margin |
| – | 118.89 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Connectone Bancorp. More…
| Operations | Investing | Financing |
| 176.78 | -1.54k | 1.37k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Connectone Bancorp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.64k | 8.47k | – |
Key Ratios Snapshot
Some of the financial key ratios for Connectone Bancorp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – Connectone Bancorp Stock Intrinsic Value
At GoodWhale, we conducted a thorough analysis of CONNECTONE BANCORP fundamentals. Our proprietary Valuation Line indicates that the fair value of CONNECTONE BANCORP stock is around $28.0. However, currently, the stock is trading at $17.7 – which implies a 36.9% undervaluation. This presents a potential opportunity for investors to purchase CNOB stock at a discount. More…
Peers
It is a regional competitor to larger financial institutions such as Nishi-Nippon Financial Holdings Inc, Village Bank and Trust Financial Corp, and Atlantic Union Bankshares Corp. These companies are all involved in providing banking and financial services to their respective customers.
– Nishi-Nippon Financial Holdings Inc ($TSE:7189)
Nishi-Nippon Financial Holdings Inc is a holding company based in Japan with a market cap of 154.96B as of 2023. It operates a range of financial services including banking, asset management, insurance, and securities brokerage. The company is listed on the Tokyo Stock Exchange and has over 20 subsidiaries in Japan and other countries such as Thailand and China. Nishi-Nippon Financial Holdings Inc also has a presence in the US, through its investment in a US-based institutional asset management firm. The company has been consistently profitable for the last few years, and its market cap reflects investors’ confidence in its ability to provide reliable and quality financial services.
– Village Bank and Trust Financial Corp ($NASDAQ:VBFC)
Village Bank and Trust Financial Corp (VBTX) is a publicly traded bank holding company with a market capitalization of 85.52M as of 2023. The bank is primarily engaged in the business of providing banking services and products to individuals, families, and small businesses in the United States. Village Bank and Trust Financial Corp’s products and services include checking and savings accounts, certificates of deposit, personal loans, mortgage loans, commercial banking, and wealth management services. They also provide online and mobile banking services. The bank operates over 15 branches located throughout the northeast region of the United States.
– Atlantic Union Bankshares Corp ($NYSE:AUB)
Union Bankshares Corp is a diversified financial holding company. Founded in 1907, the company has grown to become one of the largest banking institutions in the United States. As of 2023, the company’s market cap stands at 2.85 billion, which makes it a major player in the banking industry. Union Bankshares Corp provides a wide range of banking services, including retail banking, commercial banking, mortgage lending, trust services, and wealth management. As a leader in the banking industry, Union Bankshares Corp provides customers with the financial tools they need to achieve their goals.
Summary
ConnectOne Bancorp, Inc. has seen an influx of investment from Wedge Capital Management L L P NC in 2023, with an amount of $2.92 million. The news has been met with optimism and positive sentiment overall, as apparent through various analyses of the investment. The new funds are likely to be utilized to strengthen the firm’s core businesses and expand its services.
This could be a great opportunity for ConnectOne Bancorp, Inc. to tap into new markets and capitalize on its position in the banking industry. Analysts are optimistic that the new capital will allow the firm to increase its competitiveness and help it maximize profits in the coming years.
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