Is ConnectOne Bancorp, Inc. overvalued or undervalued?

As of 26 July 2023, the valuation grade for ConnectOne Bancorp, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a P/E ratio of 16, a price to book value of 0.98, and an EV to EBITDA of 14.74. In comparison to its peers, German American Bancorp, Inc. is considered expensive with a P/E of 18.35, while Republic Bancorp, Inc. is very attractive at a P/E of 10.09, highlighting the relative valuation landscape.
Despite the recent grade change, ConnectOne Bancorp has shown a strong one-year stock return of 30.20%, significantly outperforming the S&P 500's return of 10.26% over the same period. This performance may suggest that while the stock is currently fairly valued, it has the potential for further appreciation if market conditions remain favorable.