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Southeast Bank Stocks Q2 Earnings on July 19: SNV, RF & More
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Big banks have already impressed the market with their second-quarter earnings releases. This proves the initial predictions wrong and gives an indication of a better earnings picture for the sector as a whole. However, earnings estimates for the companies that are yet to report are not encouraging enough to predict the sector’s outperformance.
The U.S. banking sector continues to face hurdles due to a low interest rate environment, heightened volatility in oil prices, low client activities and global growth worries. Further, uncertainty arising from Britain’s exit from the European Union added to the concerns.
Per our Earnings Preview report, overall earnings for the Finance sector in second-quarter 2016 are expected to be down 3.3%.
Now let’s have a look at the following Southeast banks that are scheduled to announce their earnings tomorrow.
The Zacks Consensus Estimate for Capital City bank Group Inc. (CCBG - Free Report) has been stable over the last 30 days. Also, the estimate of 17 cents per share for the upcoming release indicates a year-over-year decline of 22.7%.
With an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold), it is difficult to conclusively predict an earnings beat for the quarter. Though Zacks Rank #3 increases the possibility of an earnings beat, we need a positive Earnings ESP to be sure of the same.
Notably, the earnings surprise history for Capital City bank has been fairly decent.
Pinnacle Financial Partners Inc.’s (PNFP - Free Report) Zacks Consensus Estimate has been constant over the last 30 days. Further, the estimate of 74 cents per share reflects year-over-year growth of 16%.
However, the company holds a Zacks Rank #4 (Sell), with an Earnings ESP of +1.35%. Though a positive Earnings ESP increases the chances of an earnings beat, a Zacks Rank #4 decreases the same. Note that we caution against stocks with a Zacks Rank #4 or #5 (Sell-rated stocks) going into an earnings announcement.
Pinnacle Financial has a decent earnings surprise history.
The Zacks Consensus Estimate for Regions Financial Corporation (RF - Free Report) has remained constant over the last 30 days. The estimate of 20 cents reflects year-over-year growth of 2.1%.
Further, the company holds a Zacks Rank #3, with an Earnings ESP of +5.00%. Hence, the probability of an earnings beat by the company is quite high.
Regions Financial delivered an average positive earnings surprise of 2.7% over the trailing four quarters.
Renasant Corporation’s (RNST - Free Report) Zacks Consensus Estimate of 57 cents has remained steady over the past 30 days and indicates year-over-year growth of 18.8%.
Conversely, the company holds a Zacks Rank #4 along with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
Moreover, in spite of recording positive earnings surprise in three out of the four trailing quarters, the average earnings surprise was a negative 1%.
The Zacks Consensus Estimate for Southwest Bancorp Inc. has remained stable over the last 30 days. The estimate of 24 cents reflects growth of 9.1% year over year.
Additionally, the company holds a Zacks Rank #2 (Buy) together with an Earnings ESP of 0.00%. Though Zacks Rank #2 increases the predictive power of our model, we also need a positive Earnings ESP to be sure of an earnings beat.
Southwest Bancorp reported an average negative earnings surprise of 9.64% over the trailing four quarters.
The Zacks Consensus Estimate of 47 cents for Synovus Financial Corporation (SNV - Free Report) has remained steady over the past 30 days. The estimated figure reflects year-over-year growth of 11.19%.
Further, the company holds a Zacks Rank #3 with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
However, Synovus Financial boasts an average earnings surprise of 1.94% over the last four quarters.
The Zacks Consensus Estimate of 56 cents has remained stable over the past 30 days for WesBanco Inc. (WSBC - Free Report) . The estimate indicates a year-over-year decline of 4%.
However, the company holds a Zacks Rank #3 along with an Earnings ESP of 0.00%. Thus, our quantitative model does not conclusively predict an earnings beat.
WesBanco posted an average negative earnings surprise of 2.37% over the last four quarters.
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Southeast Bank Stocks Q2 Earnings on July 19: SNV, RF & More
Big banks have already impressed the market with their second-quarter earnings releases. This proves the initial predictions wrong and gives an indication of a better earnings picture for the sector as a whole. However, earnings estimates for the companies that are yet to report are not encouraging enough to predict the sector’s outperformance.
The U.S. banking sector continues to face hurdles due to a low interest rate environment, heightened volatility in oil prices, low client activities and global growth worries. Further, uncertainty arising from Britain’s exit from the European Union added to the concerns.
Per our Earnings Preview report, overall earnings for the Finance sector in second-quarter 2016 are expected to be down 3.3%.
Now let’s have a look at the following Southeast banks that are scheduled to announce their earnings tomorrow.
The Zacks Consensus Estimate for Capital City bank Group Inc. (CCBG - Free Report) has been stable over the last 30 days. Also, the estimate of 17 cents per share for the upcoming release indicates a year-over-year decline of 22.7%.
With an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold), it is difficult to conclusively predict an earnings beat for the quarter. Though Zacks Rank #3 increases the possibility of an earnings beat, we need a positive Earnings ESP to be sure of the same.
Notably, the earnings surprise history for Capital City bank has been fairly decent.
CAPITAL CITY BK Price and EPS Surprise
CAPITAL CITY BK Price and EPS Surprise | CAPITAL CITY BK Quote
Pinnacle Financial Partners Inc.’s (PNFP - Free Report) Zacks Consensus Estimate has been constant over the last 30 days. Further, the estimate of 74 cents per share reflects year-over-year growth of 16%.
However, the company holds a Zacks Rank #4 (Sell), with an Earnings ESP of +1.35%. Though a positive Earnings ESP increases the chances of an earnings beat, a Zacks Rank #4 decreases the same. Note that we caution against stocks with a Zacks Rank #4 or #5 (Sell-rated stocks) going into an earnings announcement.
Pinnacle Financial has a decent earnings surprise history.
PINNACLE FIN PT Price and EPS Surprise
PINNACLE FIN PT Price and EPS Surprise | PINNACLE FIN PT Quote
The Zacks Consensus Estimate for Regions Financial Corporation (RF - Free Report) has remained constant over the last 30 days. The estimate of 20 cents reflects year-over-year growth of 2.1%.
Further, the company holds a Zacks Rank #3, with an Earnings ESP of +5.00%. Hence, the probability of an earnings beat by the company is quite high.
Regions Financial delivered an average positive earnings surprise of 2.7% over the trailing four quarters.
REGIONS FINL CP Price and EPS Surprise
REGIONS FINL CP Price and EPS Surprise | REGIONS FINL CP Quote
Renasant Corporation’s (RNST - Free Report) Zacks Consensus Estimate of 57 cents has remained steady over the past 30 days and indicates year-over-year growth of 18.8%.
Conversely, the company holds a Zacks Rank #4 along with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
Moreover, in spite of recording positive earnings surprise in three out of the four trailing quarters, the average earnings surprise was a negative 1%.
RENASANT CORP Price and EPS Surprise
RENASANT CORP Price and EPS Surprise | RENASANT CORP Quote
The Zacks Consensus Estimate for Southwest Bancorp Inc. has remained stable over the last 30 days. The estimate of 24 cents reflects growth of 9.1% year over year.
Additionally, the company holds a Zacks Rank #2 (Buy) together with an Earnings ESP of 0.00%. Though Zacks Rank #2 increases the predictive power of our model, we also need a positive Earnings ESP to be sure of an earnings beat.
Southwest Bancorp reported an average negative earnings surprise of 9.64% over the trailing four quarters.
SOUTHWEST BC-OK Price and EPS Surprise
SOUTHWEST BC-OK Price and EPS Surprise | SOUTHWEST BC-OK Quote
The Zacks Consensus Estimate of 47 cents for Synovus Financial Corporation (SNV - Free Report) has remained steady over the past 30 days. The estimated figure reflects year-over-year growth of 11.19%.
Further, the company holds a Zacks Rank #3 with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
However, Synovus Financial boasts an average earnings surprise of 1.94% over the last four quarters.
SYNOVUS FINL CP Price and EPS Surprise
SYNOVUS FINL CP Price and EPS Surprise | SYNOVUS FINL CP Quote
The Zacks Consensus Estimate of 56 cents has remained stable over the past 30 days for WesBanco Inc. (WSBC - Free Report) . The estimate indicates a year-over-year decline of 4%.
However, the company holds a Zacks Rank #3 along with an Earnings ESP of 0.00%. Thus, our quantitative model does not conclusively predict an earnings beat.
WesBanco posted an average negative earnings surprise of 2.37% over the last four quarters.
WESBANCO INC Price and EPS Surprise
WESBANCO INC Price and EPS Surprise | WESBANCO INC Quote
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