Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

On Oct 5, Zacks Investment Research upgraded Cape Bancorp, Inc. (CBNJ - Snapshot Report) to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

Cape Bancorp has been witnessing rising earnings estimates on the back of strong second-quarter 2013 results. Moreover, this well-known business and personal banking products and services provider delivered positive earnings surprises in 3 of the last 4 quarters with an average beat of 48.6%.

Cape Bancorp reported second-quarter results on Jul 23 with earnings per share of 13 cents, beating the Zacks Consensus Estimate of 8 cents by 62.5%. Robust results for the reported quarter were primarily driven by a fall in expenses and reduction in provision for loan losses.

However, a decline in interest and non-interest income partly offset the company’s disciplined expense management. Despite this, the company's strong capital position and  a marked improvement in credit quality were the positives.

Further, as of Jun 30, 2013, total net loans were $733.7 million, up 1.6% year over year. Total deposits totaled $795.1 million, depicting a rise of 0.7%.

Following second-quarter 2013 results, the Zacks Consensus Estimate for 2013 rose 19.4% to 43 cents per share over the last 60 days. For 2014, the Zacks Consensus Estimate remained stable at 36 cents per share over the same time frame.

Additionally, on Jul 19, the company’s board of directors authorized a second stock buyback program for the repurchase of approximately 633,877 shares of the company's issued and outstanding common shares.  Cape Bancorp’s first stock repurchase program was completed on Jul 16.

We believe that the company’s shareholder friendly approach and positive estimate revision led to the rank upgrade.

Other Stocks to Consider

Apart from Cape Bancorp, other stocks in the same sector that are worth considering include  Meta Financial Group, Inc. (CASH - Snapshot Report), 1st Century Bancshares, Inc. (FCTY - Snapshot Report) and Tower Financial Corporation . All of these have a Zacks Rank #1.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%