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Strength Seen in Bank Hapoalim (BKHYY): Can Its 9.3% Jump Turn into More Strength?
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Bank Hapoalim (BKHYY - Free Report) shares ended the last trading session 9.3% higher at $44.90. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.2% loss over the past four weeks.
Investors are bullish on the banking sector on expectations of interest rate hikes, robust economic growth in Israel and decent demand for commercial and consumer loans. This possibly led to the optimistic stance by the investors, which drove Bank Hapoalim stock higher.
This company is expected to post quarterly earnings of $1.52 per share in its upcoming report, which represents a year-over-year change of +9.4%. Revenues are expected to be $1.28 billion, up 13.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bank Hapoalim, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BKHYY going forward to see if this recent jump can turn into more strength down the road.
Bank Hapoalim belongs to the Zacks Banks - Foreign industry. Another stock from the same industry, Banco Santander (SAN - Free Report) , closed the last trading session 1.3% lower at $2.34. Over the past month, SAN has returned -6.7%.
For Banco Santander, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents a change of -7.1% from what the company reported a year ago. Banco Santander currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Bank Hapoalim (BKHYY): Can Its 9.3% Jump Turn into More Strength?
Bank Hapoalim (BKHYY - Free Report) shares ended the last trading session 9.3% higher at $44.90. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.2% loss over the past four weeks.
Investors are bullish on the banking sector on expectations of interest rate hikes, robust economic growth in Israel and decent demand for commercial and consumer loans. This possibly led to the optimistic stance by the investors, which drove Bank Hapoalim stock higher.
This company is expected to post quarterly earnings of $1.52 per share in its upcoming report, which represents a year-over-year change of +9.4%. Revenues are expected to be $1.28 billion, up 13.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bank Hapoalim, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BKHYY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bank Hapoalim belongs to the Zacks Banks - Foreign industry. Another stock from the same industry, Banco Santander (SAN - Free Report) , closed the last trading session 1.3% lower at $2.34. Over the past month, SAN has returned -6.7%.
For Banco Santander, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents a change of -7.1% from what the company reported a year ago. Banco Santander currently has a Zacks Rank of #4 (Sell).