Alerus (ALRS - Free Report) shares rallied 5.7% in the last trading session to close at $19.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.2% gain over the past four weeks.
With the Federal Reserve hitting a pause in rate hikes, banking stocks are in spotlight. Investor sentiment is gradually turning positive for the industry. Hence, this optimistic stance drove the ALRS stock.
This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -36.8%. Revenues are expected to be $48.8 million, down 6.2% 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 Alerus, 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 ALRS 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 >>>>
Alerus is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, MVB Financial (MVBF - Free Report) , finished the last trading session 4.4% higher at $22.48. MVBF has returned 23.8% over the past month.
For MVB Financial, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. This represents a change of +156.5% from what the company reported a year ago. MVB Financial currently has a Zacks Rank of #5 (Strong Sell).
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Alerus (ALRS - Free Report) shares rallied 5.7% in the last trading session to close at $19.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.2% gain over the past four weeks.
With the Federal Reserve hitting a pause in rate hikes, banking stocks are in spotlight. Investor sentiment is gradually turning positive for the industry. Hence, this optimistic stance drove the ALRS stock.
This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -36.8%. Revenues are expected to be $48.8 million, down 6.2% 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 Alerus, 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 ALRS 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 >>>>
Alerus is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, MVB Financial (MVBF - Free Report) , finished the last trading session 4.4% higher at $22.48. MVBF has returned 23.8% over the past month.
For MVB Financial, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. This represents a change of +156.5% from what the company reported a year ago. MVB Financial currently has a Zacks Rank of #5 (Strong Sell).
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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