We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Business First (BFST) Surges 6.0%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Business First (BFST - Free Report) shares soared 6% in the last trading session to close at $22.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.3% gain over the past four weeks.
Shares of Business First rallied for the fourth consecutive trading session. With the Federal Reserve keeping an eye on employment reports and cooling inflation numbers, market participants are projecting interest rate cuts as early as September. Thus, for banks reeling under aggressive monetary tightening, this is a positive development. As the rates come down, so will banks’ funding costs. Moreover, given the soft landing of the U.S. economy, the lending scenario is expected to improve further. These positive developments have turned investors bullish on the banking sector stocks, driving BFST higher.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of -27.1%. Revenues are expected to be $63.16 million, down 3.3% 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 Business First, 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 BFST going forward to see if this recent jump can turn into more strength down the road.
Business First is part of the Zacks Banks - Northeast industry. HarborOne Bancorp (HONE - Free Report) , another stock in the same industry, closed the last trading session 5.4% higher at $11.58. HONE has returned 2.8% in the past month.
HarborOne Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago EPS, this represents a change of -5.9%. HarborOne Bancorp currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Business First (BFST) Surges 6.0%: Is This an Indication of Further Gains?
Business First (BFST - Free Report) shares soared 6% in the last trading session to close at $22.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.3% gain over the past four weeks.
Shares of Business First rallied for the fourth consecutive trading session. With the Federal Reserve keeping an eye on employment reports and cooling inflation numbers, market participants are projecting interest rate cuts as early as September. Thus, for banks reeling under aggressive monetary tightening, this is a positive development. As the rates come down, so will banks’ funding costs. Moreover, given the soft landing of the U.S. economy, the lending scenario is expected to improve further. These positive developments have turned investors bullish on the banking sector stocks, driving BFST higher.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of -27.1%. Revenues are expected to be $63.16 million, down 3.3% 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 Business First, 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 BFST 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 >>>>
Business First is part of the Zacks Banks - Northeast industry. HarborOne Bancorp (HONE - Free Report) , another stock in the same industry, closed the last trading session 5.4% higher at $11.58. HONE has returned 2.8% in the past month.
HarborOne Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago EPS, this represents a change of -5.9%. HarborOne Bancorp currently boasts a Zacks Rank of #3 (Hold).