Avidbank Holdings Inc. (AVBH) got here out with quarterly earnings of $0.69 per share, consistent with the Zacks Consensus Estimate. This compares to earnings of $0.85 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
1 / 4 in the past, it was anticipated that this firm would submit earnings of $0.63 per share when it truly produced earnings of $0.65, delivering a shock of three.17%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.
Avidbank Holdings
The sustainability of the inventory’s instant worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Avidbank Holdings shares have misplaced about 12.5% because the starting of the 12 months versus the S&P 500’s achieve of 5.9%.
What’s Subsequent for Avidbank Holdings?
Whereas Avidbank Holdings has underperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a powerful monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Avidbank Holdings: combined. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.70 on $20.44 million in revenues for the approaching quarter and $2.81 on $83.02 million in revenues for the present fiscal 12 months.
Traders ought to be aware of the truth that the outlook for the trade can have a cloth influence on the efficiency of the inventory as effectively. When it comes to the Zacks Business Rank, Banks – West is presently within the backside 27% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical trade, Bay Business Financial institution (BCML), is but to report outcomes for the quarter ended March 2024.
This firm is anticipated to submit quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +1.8%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
Bay Business Financial institution’s revenues are anticipated to be $24.8 million, down 10.5% from the year-ago quarter.
Free Report – The Bitcoin Revenue Phenomenon
Zacks Funding Analysis has launched a Particular Report that will help you pursue huge earnings from the world’s first and largest decentralized type of cash.
No ensures for the long run, however previously three presidential election years, Bitcoin’s returns had been as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts one other vital surge. Click on beneath for Bitcoin: A Tumultuous But Resilient Historical past.
Download Now – Today It’s FREE >>
Avidbank Holdings Inc. (AVBH) : Free Stock Analysis Report
Bay Commercial Bank (BCML) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
