Back to top

Image: Bigstock

Are Finance Stocks Lagging Allegiance Bancshares (ABTX) This Year?

Read MoreHide Full Article

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegiance Bancshares one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.

Allegiance Bancshares is one of 883 companies in the Finance group. The Finance group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Allegiance Bancshares is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ABTX's full-year earnings has moved 18% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, ABTX has gained about 0.5% so far this year. In comparison, Finance companies have returned an average of -21.1%. This shows that Allegiance Bancshares is outperforming its peers so far this year.

Carter Bankshares, Inc. (CARE - Free Report) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6.4%.

For Carter Bankshares, Inc. the consensus EPS estimate for the current year has increased 18.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Allegiance Bancshares belongs to the Banks - Southeast industry, a group that includes 64 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have lost about 8.9% so far this year, so ABTX is performing better this group in terms of year-to-date returns.

In contrast, Carter Bankshares, Inc. falls under the Banks - Northeast industry. Currently, this industry has 90 stocks and is ranked #44. Since the beginning of the year, the industry has moved -20.2%.

Investors with an interest in Finance stocks should continue to track Allegiance Bancshares and Carter Bankshares, Inc. These stocks will be looking to continue their solid performance.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Carter Bankshares, Inc. (CARE) - free report >>

Published in