Is ConnectOne Bancorp, Inc. overvalued or undervalued?

As of 3 October 2025, the valuation grade for ConnectOne Bancorp, Inc. has moved from expensive to fair. Based on the current metrics, the company appears to be fairly valued. Key ratios include a P/E ratio of 16, a Price to Book Value of 0.98, and an EV to EBIT of 15.56, which suggest that the stock is reasonably priced compared to its earnings and book value.
In comparison to its peers, ConnectOne Bancorp's P/E ratio of 16 is lower than that of Banc of California, Inc. at 18.08, indicating a more attractive valuation relative to that competitor. However, it is higher than Byline Bancorp, Inc., which has a P/E of 11.72, suggesting that while ConnectOne is fairly valued, there are cheaper alternatives in the market. Over the past year, ConnectOne Bancorp has returned 4.26%, significantly trailing the S&P 500's return of 17.82%, which reinforces the notion that the stock may not be as attractive as broader market options.