CNOBConnectOne Bancorp, Inc.
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.6B
- Employees
- 750
- Net debt / EBITDA
- —
- $187M net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes3 of 3 years3+ of last 5 years
- High CEO pay despite TSRNo$4M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo132% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo30% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 58th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$189K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $130M | $125M | $87M | $74M | $80M | 9.0% |
| Operating cash flow | $202M | $177M | $93M | $61M | $106M | 75% |
| Capex | $3M | $3M | $7M | $4M | $5M | 42% |
| Stock-based comp | $5M | $5M | $5M | $5M | $5M | 1.8% |
| Buybacks | $9M | $13M | $17M | $6M | $0 | 100% |
| Dividends | $17M | $23M | $26M | $27M | $32M | 17% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $36K · 3
- Open-market sells, 12 mo
- $225K · 1
- Net
- −$189K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $5M | 90 | — |
| FY2024 | $4M | $4M | 129 | 154 |
| FY2023 | $4M | $3M | 98 | 125 |
| FY2022 | $4M | $3M | 100 | 113 |