How The ConnectOne Bancorp (CNOB) Narrative Is Shifting After FLIC Deal And New Price Targets

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ConnectOne Bancorp is back in focus after analysts refreshed their price targets, including a move in fair value from US$31.30 to US$33.80. The shift in targets, alongside references to both US$31 and US$33.80, reflects how different analysts are weighing the impact of the FLIC acquisition and the Long Island expansion. Read on to see how these changing targets fit into the broader analyst narrative and what to watch as the story develops.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value ConnectOne Bancorp.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

Piper Sandler assumed coverage of ConnectOne Bancorp with an Overweight rating and a US$31 price target, indicating that the firm sees support for the current valuation level. Piper Sandler highlights the larger scale and broader Long Island footprint following the FLIC acquisition, pointing to more opportunities to offer additional products to the legacy FLIC customer base. Raymond James raised its price target on ConnectOne Bancorp by US$3, which reinforces that at least some analysts see room for the stock to reflect the Long Island expansion and integration of FLIC.

🐻 Bearish Takeaways

Piper Sandler set its current price target at US$31, down from US$33, which indicates that the firm is accounting for execution risks around integrating FLIC and scaling the Long Island presence.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!NasdaqGS:CNOB 1-Year Stock Price Chart

We've flagged 1 risk for ConnectOne Bancorp. See which could impact your investment.

What's in the News

ConnectOne Bancorp updated its share repurchase activity, buying 90,000 shares for US$2.36 million in the first quarter of 2026 and bringing total repurchases under the March 11, 2019 authorization to 2,638,882 shares for US$61.34 million. The Board declared a higher quarterly cash dividend of US$0.195 per share on common stock, an increase of US$0.015, payable on June 1, 2026 to shareholders of record on May 15, 2026. For the quarter ended March 31, 2026, the company reported net loan charge offs of US$2,291,000 compared with US$3,400,000 for the same period a year earlier.

How This Changes the Fair Value For ConnectOne Bancorp

Fair value revised from US$31.30 to US$33.80 per share. Revenue growth assumption updated from 23.04% to 21.39%. Net profit margin assumption moved from 39.31% to 45.26%. Future P/E multiple reduced from 9.64x to 8.32x. Discount rate adjusted from 7.34% to 7.32%.

Story Continues

Never Miss an Update: Follow The Narrative

Narratives connect a company's business story, such as mergers and market focus, to the assumptions behind its earnings forecasts and fair value. They update as new information comes through, so you can see how the thesis is evolving over time.

Head over to the Simply Wall St Community and follow the Narrative on ConnectOne Bancorp to stay up to date on:

How the First of Long Island Bank merger and unified digital infrastructure are being used to extend ConnectOne Bancorp's reach in key New York and New Jersey metros. Whether relationship focused banking, cost synergies and crossing the US$10b asset threshold support the assumptions for higher margins and operating efficiency. Key risks around commercial real estate concentration, regional exposure, integration execution and the pace of digital investment compared with larger banking peers.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include CNOB.

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