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Are Finance Stocks Lagging BCB Bancorp NJ (BCBP) This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has BCB Bancorp (BCBP - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
BCB Bancorp is a member of the Finance sector. This group includes 884 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BCB Bancorp is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BCBP's full-year earnings has moved 10.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BCBP has returned about 17% since the start of the calendar year. In comparison, Finance companies have returned an average of -14.3%. This shows that BCB Bancorp is outperforming its peers so far this year.
HSBC (HSBC - 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 2.1%.
Over the past three months, HSBC's consensus EPS estimate for the current year has increased 5.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, BCB Bancorp belongs to the Banks - Northeast industry, which includes 88 individual stocks and currently sits at #52 in the Zacks Industry Rank. Stocks in this group have lost about 18.9% so far this year, so BCBP is performing better this group in terms of year-to-date returns.
On the other hand, HSBC belongs to the Banks - Foreign industry. This 67-stock industry is currently ranked #30. The industry has moved -3% year to date.
BCB Bancorp and HSBC could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.