Fairness Bancshares (EQBK) got here out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.82 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 21.18%. 1 / 4 in the past, it was anticipated that this financial institution holding firm would submit earnings of $0.65 per share when it truly produced earnings of $0.77, delivering a shock of 18.46%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Fairness Bancshares
The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Fairness Bancshares shares have misplaced about 5.5% because the starting of the yr versus the S&P 500’s acquire of 6.1%.
What’s Subsequent for Fairness Bancshares?
Whereas Fairness Bancshares has underperformed the market thus far this yr, 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 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 exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Fairness Bancshares: combined. 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 #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You possibly can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.92 on $54.63 million in revenues for the approaching quarter and $3.78 on $219.43 million in revenues for the present fiscal yr.
Traders must be conscious of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Banks – Northeast is at present within the backside 39% of the 250 plus Zacks industries. Our analysis exhibits 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, Peapack-Gladstone (PGC), has but to report outcomes for the quarter ended March 2024.
This financial institution holding firm is anticipated to submit quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of -50.5%. The consensus EPS estimate for the quarter has been revised 1.9% decrease during the last 30 days to the present degree.
Peapack-Gladstone’s revenues are anticipated to be $53.69 million, down 13.5% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
