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LCNB (LCNB) Surges 5.9%: Is This an Indication of Further Gains?
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LCNB Corp (LCNB - Free Report) shares ended the last trading session 5.9% higher at $16.69. 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 15.1% loss over the past four weeks.
Shares of LCNB Corp rallied for the third consecutive trading day. After stumbling significantly over the past week, following the fallout from the collapse of two S&P 500 banks, the investors regained some confidence in the industry amid the steps taken by the regulators to avert a full-blown bank run. Moreover, inflation numbers came out as expected, which further reinforced investor optimism. These developments drove the LCNB stock higher.
This holding company for LCNB National Bank is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +36.8%. Revenues are expected to be $19.9 million, up 12% 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 LCNB, 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 LCNB going forward to see if this recent jump can turn into more strength down the road.
LCNB belongs to the Zacks Banks - Northeast industry. Another stock from the same industry, S&T Bancorp (STBA - Free Report) , closed the last trading session 4% higher at $34.15. Over the past month, STBA has returned -13.3%.
S&T Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. Compared to the company's year-ago EPS, this represents a change of +30.7%. S&T Bancorp currently boasts a Zacks Rank of #2 (Buy).
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LCNB (LCNB) Surges 5.9%: Is This an Indication of Further Gains?
LCNB Corp (LCNB - Free Report) shares ended the last trading session 5.9% higher at $16.69. 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 15.1% loss over the past four weeks.
Shares of LCNB Corp rallied for the third consecutive trading day. After stumbling significantly over the past week, following the fallout from the collapse of two S&P 500 banks, the investors regained some confidence in the industry amid the steps taken by the regulators to avert a full-blown bank run. Moreover, inflation numbers came out as expected, which further reinforced investor optimism. These developments drove the LCNB stock higher.
This holding company for LCNB National Bank is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +36.8%. Revenues are expected to be $19.9 million, up 12% 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 LCNB, 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 LCNB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
LCNB belongs to the Zacks Banks - Northeast industry. Another stock from the same industry, S&T Bancorp (STBA - Free Report) , closed the last trading session 4% higher at $34.15. Over the past month, STBA has returned -13.3%.
S&T Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. Compared to the company's year-ago EPS, this represents a change of +30.7%. S&T Bancorp currently boasts a Zacks Rank of #2 (Buy).