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FVCBankcorp (FVCB) Surges 6.3%: Is This an Indication of Further Gains?
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FVCBankcorp (FVCB - Free Report) shares ended the last trading session 6.3% higher at $13. 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 19.1% gain over the past four weeks.
Shares of FVCBankcorp rallied for the third straight trading session. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. As the rates come down, banks’ funding costs will stabilize or move lower eventually. Also, demand for loans is expected to improve. Hence, the investors turned bullish on banking sector stocks, driving FVCB higher.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -8.7%. Revenues are expected to be $14.08 million, down 7.9% 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 FVCBankcorp, 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 FVCB going forward to see if this recent jump can turn into more strength down the road.
FVCBankcorp is a member of the Zacks Banks - Southeast industry. One other stock in the same industry, South Atlantic Bancshares, Inc. (SABK - Free Report) , finished the last trading session 5.3% higher at $13.85. SABK has returned 6.9% over the past month.
South Atlantic Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. Compared to the company's year-ago EPS, this represents a change of -24.2%. South Atlantic Bancshares currently boasts a Zacks Rank of #3 (Hold).
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FVCBankcorp (FVCB) Surges 6.3%: Is This an Indication of Further Gains?
FVCBankcorp (FVCB - Free Report) shares ended the last trading session 6.3% higher at $13. 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 19.1% gain over the past four weeks.
Shares of FVCBankcorp rallied for the third straight trading session. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. As the rates come down, banks’ funding costs will stabilize or move lower eventually. Also, demand for loans is expected to improve. Hence, the investors turned bullish on banking sector stocks, driving FVCB higher.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -8.7%. Revenues are expected to be $14.08 million, down 7.9% 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 FVCBankcorp, 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 FVCB 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 >>>>
FVCBankcorp is a member of the Zacks Banks - Southeast industry. One other stock in the same industry, South Atlantic Bancshares, Inc. (SABK - Free Report) , finished the last trading session 5.3% higher at $13.85. SABK has returned 6.9% over the past month.
South Atlantic Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. Compared to the company's year-ago EPS, this represents a change of -24.2%. South Atlantic Bancshares currently boasts a Zacks Rank of #3 (Hold).