You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Can Southern States Bancshares, Inc. (SSBK) Run Higher on Rising Earnings Estimates?
Investors might want to bet on Southern States Bancshares, Inc. (SSBK - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Southern States Bancshares, Inc. There has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.80 per share for the current quarter represents a change of +70.21% from the number reported a year ago.
Over the last 30 days, one estimate has moved higher for Southern States Bancshares, Inc. compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 17.65%.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $2.69 per share, representing a year-over-year change of +40.1%.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Southern States Bancshares, Inc. versus no negative revisions. This has pushed the consensus estimate 10.25% higher.
Favorable Zacks Rank
The promising estimate revisions have helped Southern States Bancshares, Inc. earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Southern States Bancshares, Inc. shares have added 5.1% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.