My grandfather was a farmer in south-central Kansas.
He told me that there are two things that farmers always need.
- Good relationship with a local weather forecaster.
- Good relationship with his banker.
I laughed at the first one, but as I got older and beat myself up, he understood the meaning of the second one.
When I lived in a small town in southeastern Kansas, I made such a relationship with the president of a local community bank.
That relationship helped me buy a car and save for retirement.
I would never have had the same experience at a much larger institution.
Using Adam O’Dell’s 6-element green zone valuation system, we found a community bank with strong finances and a 105% rise in stock prices over the last 12 months.
we are “strong strongFor the shares of this company, it means at least ready to outperform the wider market. 3 times in the next 12 months..
What I have discovered about community banks can benefit investors if they act quickly.
Community Bank Growth Exceeds Large Lenders
It’s easy to imagine that community banks (banks with assets under $ 10 billion) exist only in less populated areas.
But the data reveals an even bigger story.
according to BankingStrategist.com — Banking data companies — Community banks are very powerful in small areas — 2,371 banks in counties with a population of less than 50,000.
However, as of the second quarter of 2021, counties with a population of over 750,000 have 7.5 times as many community banks (680) as large banks (90).
Community banks have established themselves in more populous areas.
Investor You can find big profits in this growth trend.
Strong community bank stock: ConnectOne Bancorp Inc.
ConnectOne Bancorp Inc. (Nasdaq: CNOB). Is a community bank headquartered in Englewood Cliff, NJ. It is located across the Hudson River from Yonkers, New York.
It is a certified commercial bank with 29 bank offices and branches in and around the New York City metropolitan area.
The bank offers a full line of traditional banking services, including:
- Personal and business checking accounts.
- Retirement account.
- Consumer and commercial business loans.
- Commercial and residential mortgages.
From 2017 to 2020, ConnectOne’s total annual revenue increased by 43.5% from $ 147.3 million to $ 211.4 million.
Revenue forecasts show similar growth from 2020 to 2023, with the company’s annual revenue reaching approximately $ 300 million by the end of 2023, an increase of 41% from 2020.
Banks’ total assets in the first quarter of 2017 were $ 4.45 billion.
These assets swelled to $ 7.71 billion in the second quarter of 2021 and increased 73% in just over five years.
ConnectOne Bancorp continues to expand its customer base through deposits and loans.
ConnectOne share price surged 105% in the last 12 months
Over the last 12 months, the company’s share price has grown 105%.
Shares experienced a slight decline in June, but rebounded rapidly by mid-July, surpassing the $ 28 resistance point per share. At the end of September, CNOB hit a 52-week high of over $ 30 and has maintained that level ever since.
Stock price evaluation of ConnectOne
Using Adam’s 6-element Green Zone Rating System, ConnectOne Bancorp 92 in total.. In short, we are “strong bullish” on equities and expect to outperform the wider market. 3 times in the next 12 months..
The stock price of ConnectOne is green in 5 out of 6 factors.
- growth — The company’s annual sales growth rate for one year is 15.4%, and its three-year sales growth rate is only 20%.Company earns 86 About growth.
- Momentum — Despite the recent market downturn, the rise in ConnectOne’s share price over the last 12 months has seen little resistance.Company earns 82 With momentum.
- worth — The company’s price-to-price ratio (revenue, sales, books and cash flow) is consistent with other US banking industries. The price-earnings ratio is 10.58, which is slightly lower than the industry average of 11.46. ConnectOne 76 About value.
- size — With a market capitalization of $ 1.21 billion, Connect One is the perfect size for the stock we value.It earns 71 With this metric.
- Volatility — ConnectOne’s share price momentum experienced a slight resistance before reaching its 52-week high last week.It earns 70 With this metric.
Company earns 50 in qualityHowever, return on assets, equity and investment are all positive and consistent with the rest of the industry. Return on equity is 12.56%, compared to the industry average of 11.15%.
Conclusion: Community banks are becoming more and more popular … even in populated areas.
Small banks provide personal-level financial care not found in large national chains.
With strong earnings and equity growth, ConnectOne Bancorp is a community bank equity that is worth adding to your portfolio.
Note: ConnectOne is the best community bank to consider your portfolio.However, the most convicted small bank stock of chief investment strategist Adam Odel Green Zone Fortune Model portfolio.To find out more about this amazing stock and him Green Zone Fortune Premium service, click here.
Matt Clark, CMSA®
Survey analyst, Money & Market
Matt Clark is a research analyst Money & Market.. He is a Certified Capital Markets & Securities Analyst at the Corporate Finance Institute and In search of alpha..Before joining Money & Market, He has been a journalist and editor for 25 years, responsible for college sports, business and politics.
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