Many banks have come up with better-than-expected Q3 results, despite a challenging operating environment. This lifted market sentiments for banking stocks considerably.
Mortgage banking income is projected to improve during the quarter and cost control initiatives will likely continue to support the bottom line.
However, margin pressure will continue to hurt revenues, as the Fed maintained its dovish stance.
Notably, per our Earnings Preview report, overall earnings for the Finance sector in the quarter are expected to be up 8.5% year over year.
Now, let’s have a look at some of the northeast banks that are scheduled to release their earnings tomorrow.
Boston Private Financial Holdings, Inc. is slated to announce its results after the market closes. The company has a Zacks Consensus Estimate of 20 cents. It reflects a year-over-year increase of 41.07%. Also, estimates have remained stable over the past 30 days.
The company carries a Zacks Rank #2 (Buy) and has an Earnings ESP of 0.00% thus making it difficult to conclusively predict an earnings beat this quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, in two of the trailing four quarters, this stock surpassed the Zacks Consensus Estimate as depicted in the chart below.
Independent Bank Corp. (INDB - Free Report) is slated to announce its results after the market closes. The company has a Zacks Consensus Estimate of 75 cents, up 5.63% year over year. Its estimates have remained stable over the past 30 days.
However, we cannot conclusively predict that the company will beat the Zacks Consensus Estimate this quarter as it carries a Zacks Rank #3 (Hold) and has an Earnings ESP of 0.00%.
Notably, this stock surpassed the Zacks Consensus Estimate in all the trailing four quarters as depicted in the chart below.
MB Financial Inc. is scheduled to announce its results after the market closes. It has a Zacks Rank #3 along with an Earnings ESP of -1.67%, making an earnings beat uncertain this quarter.
However, its estimates have experienced upward revisions over the past 30 days.
Also, its Zacks Consensus Estimate of 60 cents is up 16.67% year over year.
Notably, the company witnessed an average positive earnings surprise of 2.84% in the trailing four quarters as depicted in the chart below.
S&T Bancorp Inc. (STBA - Free Report) has a Zacks Consensus Estimate of 50 cents, down 6.79% year over year. However, its estimates have remained stable over the past 30 days.
But, we cannot conclusively predict an earnings beat this quarter as it carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
Notably, the stock lagged the Zacks Consensus Estimate in all the trailing four quarters as depicted in the chart below.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Many banks have come up with better-than-expected Q3 results, despite a challenging operating environment. This lifted market sentiments for banking stocks considerably.
Mortgage banking income is projected to improve during the quarter and cost control initiatives will likely continue to support the bottom line.
However, margin pressure will continue to hurt revenues, as the Fed maintained its dovish stance.
Notably, per our Earnings Preview report, overall earnings for the Finance sector in the quarter are expected to be up 8.5% year over year.
Now, let’s have a look at some of the northeast banks that are scheduled to release their earnings tomorrow.
Boston Private Financial Holdings, Inc. is slated to announce its results after the market closes. The company has a Zacks Consensus Estimate of 20 cents. It reflects a year-over-year increase of 41.07%. Also, estimates have remained stable over the past 30 days.
The company carries a Zacks Rank #2 (Buy) and has an Earnings ESP of 0.00% thus making it difficult to conclusively predict an earnings beat this quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, in two of the trailing four quarters, this stock surpassed the Zacks Consensus Estimate as depicted in the chart below.
Independent Bank Corp. (INDB - Free Report) is slated to announce its results after the market closes. The company has a Zacks Consensus Estimate of 75 cents, up 5.63% year over year. Its estimates have remained stable over the past 30 days.
However, we cannot conclusively predict that the company will beat the Zacks Consensus Estimate this quarter as it carries a Zacks Rank #3 (Hold) and has an Earnings ESP of 0.00%.
Notably, this stock surpassed the Zacks Consensus Estimate in all the trailing four quarters as depicted in the chart below.
MB Financial Inc. is scheduled to announce its results after the market closes. It has a Zacks Rank #3 along with an Earnings ESP of -1.67%, making an earnings beat uncertain this quarter.
However, its estimates have experienced upward revisions over the past 30 days.
Also, its Zacks Consensus Estimate of 60 cents is up 16.67% year over year.
Notably, the company witnessed an average positive earnings surprise of 2.84% in the trailing four quarters as depicted in the chart below.
S&T Bancorp Inc. (STBA - Free Report) has a Zacks Consensus Estimate of 50 cents, down 6.79% year over year. However, its estimates have remained stable over the past 30 days.
But, we cannot conclusively predict an earnings beat this quarter as it carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
Notably, the stock lagged the Zacks Consensus Estimate in all the trailing four quarters as depicted in the chart below.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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