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Zacks.com featured highlights include Coastal Financial, Esquire Financial and Mercantile Bank
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For Immediate Release
Chicago, IL – October 9, 2024 – Stocks in this week’s article are Coastal Financial Corp. (CCB - Free Report) , Esquire Financial Holdings, Inc. (ESQ - Free Report) and Mercantile Bank Corp. (MBWM - Free Report) .
3 Bank Stocks Exhibiting Superb Earnings Growth
Banks may have kicked off the third-quarter earnings parade, but the fourth quarter bodes well for them. After all, the recent interest rate cuts by the Federal Reserve are expected to boost economic activities, spur dealmaking, and enhance financial transactions, like credit card usage. As a result, the fourth-quarter earnings for the Banks & Thrifts industry are projected to be up +18.3% from a year ago on +3% higher revenues (read more: Are Bank Stocks a Buy Ahead of Quarterly Results?).
Hence, it is vital to keep tabs on Coastal Financial Corp., Esquire Financial Holdings, Inc. and Mercantile Bank Corp. from the Banks &Thrifts industry, which are showcasing solid earnings growth at the moment.
Earnings Estimates & Share Price Movements
Frequently, we have seen a decline in the stock price despite earnings growth and a rally in price following an earnings decline. This is largely the result of a company’s earnings failing to meet market expectations.
Earnings estimates embody analysts’ opinions on factors such as sales growth, product demand, competitive industry environment, profit margins, and cost control. Thus, earnings estimates serve as a valuable tool, while making investment decisions. Earnings estimates also help analysts assess the cash flow to determine the fair value of a firm.
Thus, investors should watch for stocks set to surge. Investors need to buy stocks with historical earnings growth and witnessing a rise in quarterly and annual earnings estimates.
We use that basis to determine our stock selections using Zack’s Research Wizard Tool.
The above criteria narrowed the universe of around 7,839 stocks to only 24. Here are the three bank stocks:
Coastal Financial
Coastal Financial, a bank holding company, offers services such as checking and savings accounts, loans, cards, and Internet banking through its subsidiaries.
Esquire Financial, a bank holding company, offers banking services to law professionals, service firms, businesses, and individuals in the United States.
ESQ currently has a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for ESQ’s current-year earnings has increased 0.2% over the past 60 days.
Mercantile Bank
Mercantile Bank offers a wide range of banking products and services to businesses and consumers in Grand Rapids and Kent County, creating a friendly hometown banking experience.
MBWM currently has a Zacks Rank #3. The Zacks Consensus Estimate for MBWM’s current-year earnings has increased 0.2% over the past 60 days.
You can sign up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include Coastal Financial, Esquire Financial and Mercantile Bank
For Immediate Release
Chicago, IL – October 9, 2024 – Stocks in this week’s article are Coastal Financial Corp. (CCB - Free Report) , Esquire Financial Holdings, Inc. (ESQ - Free Report) and Mercantile Bank Corp. (MBWM - Free Report) .
3 Bank Stocks Exhibiting Superb Earnings Growth
Banks may have kicked off the third-quarter earnings parade, but the fourth quarter bodes well for them. After all, the recent interest rate cuts by the Federal Reserve are expected to boost economic activities, spur dealmaking, and enhance financial transactions, like credit card usage. As a result, the fourth-quarter earnings for the Banks & Thrifts industry are projected to be up +18.3% from a year ago on +3% higher revenues (read more: Are Bank Stocks a Buy Ahead of Quarterly Results?).
Hence, it is vital to keep tabs on Coastal Financial Corp., Esquire Financial Holdings, Inc. and Mercantile Bank Corp. from the Banks &Thrifts industry, which are showcasing solid earnings growth at the moment.
Earnings Estimates & Share Price Movements
Frequently, we have seen a decline in the stock price despite earnings growth and a rally in price following an earnings decline. This is largely the result of a company’s earnings failing to meet market expectations.
Earnings estimates embody analysts’ opinions on factors such as sales growth, product demand, competitive industry environment, profit margins, and cost control. Thus, earnings estimates serve as a valuable tool, while making investment decisions. Earnings estimates also help analysts assess the cash flow to determine the fair value of a firm.
Thus, investors should watch for stocks set to surge. Investors need to buy stocks with historical earnings growth and witnessing a rise in quarterly and annual earnings estimates.
We use that basis to determine our stock selections using Zack’s Research Wizard Tool.
The above criteria narrowed the universe of around 7,839 stocks to only 24. Here are the three bank stocks:
Coastal Financial
Coastal Financial, a bank holding company, offers services such as checking and savings accounts, loans, cards, and Internet banking through its subsidiaries.
CCB currently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for CCB’s current-year earnings has increased 0.6% over the past 60 days. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Esquire Financial
Esquire Financial, a bank holding company, offers banking services to law professionals, service firms, businesses, and individuals in the United States.
ESQ currently has a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for ESQ’s current-year earnings has increased 0.2% over the past 60 days.
Mercantile Bank
Mercantile Bank offers a wide range of banking products and services to businesses and consumers in Grand Rapids and Kent County, creating a friendly hometown banking experience.
MBWM currently has a Zacks Rank #3. The Zacks Consensus Estimate for MBWM’s current-year earnings has increased 0.2% over the past 60 days.
You can sign up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2347806/3-bank-stocks-exhibiting-superb-earnings-growth
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Contact: Jim Giaquinto
Company: Zacks.com
Phone: 312-265-9268
Email: pr@zacks.com
Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.