BUZZ-ConnectOne Bancorp jumps after Q4 profit tops expectations

Shares of regional lender ConnectOne Bancorp CNOB.O jump 7.2% to $25.54

CNOB posts Q4 adj. profit of 52 cents/shr, beating Wall Street expectations of 43 cents/shr, according to data compiled by LSEG

Q4 net interest income rose 4.7% to $64.7 mln, ahead of estimates of $63.9 mln

Net interest margin - a key measure of banking profitability - improved to 2.86% in Q4, from 2.71% a year earlier

Monetary policy easing by the U.S. Federal Reserve has lowered pressure on regional banks, as they shell out lesser on deposit costs

CNOB stock ended flat in 2024