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Home Bancorp (HBCP) Soars 6.7%: Is Further Upside Left in the Stock?
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Home Bancorp (HBCP - Free Report) shares ended the last trading session 6.7% higher at $41.77. 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 2.7% gain over the past four weeks.
Shares of Home Bancorp rallied for the second straight trading session. With the Federal Reserve keeping an eye on unemployment reports and cooling inflation numbers, market participants are projecting interest rate cuts as early as during the September FOMC meeting. Thus, this is a positive development for banks that are already reeling under the Fed’s aggressive monetary tightening. As the rates come down, so will banks’ funding costs. Hence, the investors turned bullish on banking sector stocks, driving HBCP higher.
This financial holding company is expected to post quarterly earnings of $0.98 per share in its upcoming report, which represents a year-over-year change of -19%. Revenues are expected to be $31.9 million, down 5.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Home Bancorp, 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 HBCP going forward to see if this recent jump can turn into more strength down the road.
Home Bancorp is part of the Zacks Banks - Southeast industry. South Atlantic Bancshares, Inc. (SABK - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $12.75. SABK has returned 1.6% in the past month.
For South Atlantic Bancshares, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. This represents a change of -24.2% from what the company reported a year ago. South Atlantic Bancshares currently has a Zacks Rank of #3 (Hold).
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Home Bancorp (HBCP) Soars 6.7%: Is Further Upside Left in the Stock?
Home Bancorp (HBCP - Free Report) shares ended the last trading session 6.7% higher at $41.77. 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 2.7% gain over the past four weeks.
Shares of Home Bancorp rallied for the second straight trading session. With the Federal Reserve keeping an eye on unemployment reports and cooling inflation numbers, market participants are projecting interest rate cuts as early as during the September FOMC meeting. Thus, this is a positive development for banks that are already reeling under the Fed’s aggressive monetary tightening. As the rates come down, so will banks’ funding costs. Hence, the investors turned bullish on banking sector stocks, driving HBCP higher.
This financial holding company is expected to post quarterly earnings of $0.98 per share in its upcoming report, which represents a year-over-year change of -19%. Revenues are expected to be $31.9 million, down 5.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Home Bancorp, 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 HBCP 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 >>>>
Home Bancorp is part of the Zacks Banks - Southeast industry. South Atlantic Bancshares, Inc. (SABK - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $12.75. SABK has returned 1.6% in the past month.
For South Atlantic Bancshares, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. This represents a change of -24.2% from what the company reported a year ago. South Atlantic Bancshares currently has a Zacks Rank of #3 (Hold).