Avidbank Holdings Inc. (AVBH) got here out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.72 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 13.24%. 1 / 4 in the past, it was anticipated that this firm would publish earnings of $0.68 per share when it really produced earnings of $0.46, delivering a shock of -32.35%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
Avidbank Holdings
The sustainability of the inventory’s fast worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Avidbank Holdings shares have misplaced about 8.3% for the reason that starting of the yr versus the S&P 500’s acquire of 23%.
What’s Subsequent for Avidbank Holdings?
Whereas Avidbank Holdings has underperformed the market to date this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Avidbank Holdings: unfavorable. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.67 on $20.69 million in revenues for the approaching quarter and $2.43 on $80.66 million in revenues for the present fiscal yr.
Traders ought to be conscious of the truth that the outlook for the business can have a cloth influence on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Banks – West is at the moment within the backside 40% 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 other inventory from the identical business, First Monetary Northwest (FFNW), has but to report outcomes for the quarter ended September 2024.
This financial institution is anticipated to publish quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of -56.3%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
First Monetary Northwest’s revenues are anticipated to be $9.49 million, down 8.6% from the year-ago quarter.
Ought to You Put money into Avidbank Holdings Inc. (AVBH)?
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Avidbank Holdings Inc. (AVBH) : Free Stock Analysis Report
First Financial Northwest, Inc. (FFNW) : Free Stock Analysis Report
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