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Business First (BFST) Stock Jumps 5.6%: Will It Continue to Soar?
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Business First (BFST - Free Report) shares rallied 5.6% in the last trading session to close at $22.70. 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 7.6% loss over the past four weeks.
The performance of banks is expected improve on rising interest rates and decent demand for commercial & industrial loans. The Federal Reserve is expected to hike the interest rates again by 75 basis points (bps) next month (having already increased the rates by 300 bps so far this year) as the inflation continues to be stubborn. This, thus, led to bullish investor sentiments, which drove BFST stock higher.
This company is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of +26.4%. Revenues are expected to be $58.58 million, up 34.2% 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 Business First, 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 BFST going forward to see if this recent jump can turn into more strength down the road.
Business First is a member of the Zacks Banks - Northeast industry. One other stock in the same industry, NBT Bancorp (NBTB - Free Report) , finished the last trading session 1.7% higher at $42.79. NBTB has returned 6.7% over the past month.
NBT's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.89. Compared to the company's year-ago EPS, this represents a change of +3.5%. NBT currently boasts a Zacks Rank of #2 (Buy).
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Business First (BFST) Stock Jumps 5.6%: Will It Continue to Soar?
Business First (BFST - Free Report) shares rallied 5.6% in the last trading session to close at $22.70. 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 7.6% loss over the past four weeks.
The performance of banks is expected improve on rising interest rates and decent demand for commercial & industrial loans. The Federal Reserve is expected to hike the interest rates again by 75 basis points (bps) next month (having already increased the rates by 300 bps so far this year) as the inflation continues to be stubborn. This, thus, led to bullish investor sentiments, which drove BFST stock higher.
This company is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of +26.4%. Revenues are expected to be $58.58 million, up 34.2% 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 Business First, 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 BFST 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 >>>>
Business First is a member of the Zacks Banks - Northeast industry. One other stock in the same industry, NBT Bancorp (NBTB - Free Report) , finished the last trading session 1.7% higher at $42.79. NBTB has returned 6.7% over the past month.
NBT's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.89. Compared to the company's year-ago EPS, this represents a change of +3.5%. NBT currently boasts a Zacks Rank of #2 (Buy).