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Princeton Bancorp (BPRN) Soars 5.9%: Is Further Upside Left in the Stock?
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Princeton Bancorp (BPRN - Free Report) shares ended the last trading session 5.9% higher at $30.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.1% loss over the past four weeks.
With the chances of the Federal Reserve hiking interest rates at this month’s FOMC meeting gradually coming down, investors are regaining confidence on banking stocks. Thus, investors turned bullish, driving the BPRN stock higher.
This bank is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of -44%. Revenues are expected to be $18.03 million, down 7.1% 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 Princeton Bancorp, 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 BPRN going forward to see if this recent jump can turn into more strength down the road.
Princeton Bancorp is part of the Zacks Banks - Northeast industry. Eagle Bancorp (EGBN - Free Report) , another stock in the same industry, closed the last trading session 3.9% lower at $22.98. EGBN has returned -3.3% in the past month.
For Eagle Bancorp, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.69. This represents a change of -40.5% from what the company reported a year ago. Eagle Bancorp currently has a Zacks Rank of #2 (Buy).
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Princeton Bancorp (BPRN) Soars 5.9%: Is Further Upside Left in the Stock?
Princeton Bancorp (BPRN - Free Report) shares ended the last trading session 5.9% higher at $30.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.1% loss over the past four weeks.
With the chances of the Federal Reserve hiking interest rates at this month’s FOMC meeting gradually coming down, investors are regaining confidence on banking stocks. Thus, investors turned bullish, driving the BPRN stock higher.
This bank is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of -44%. Revenues are expected to be $18.03 million, down 7.1% 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 Princeton Bancorp, 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 BPRN 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 >>>>
Princeton Bancorp is part of the Zacks Banks - Northeast industry. Eagle Bancorp (EGBN - Free Report) , another stock in the same industry, closed the last trading session 3.9% lower at $22.98. EGBN has returned -3.3% in the past month.
For Eagle Bancorp, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.69. This represents a change of -40.5% from what the company reported a year ago. Eagle Bancorp currently has a Zacks Rank of #2 (Buy).