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FVCBankcorp (FVCB) Soars 5.9%: Is Further Upside Left in the Stock?
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FVCBankcorp (FVCB - Free Report) shares soared 5.9% in the last trading session to close at $14.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% gain over the past four weeks.
Shares of FVCBankcorp rallied for the third consecutive day. The Federal Reserve has signaled end of the current rate cycle and kept the interest rates unchanged at 22-year high of 5.25-5.5% at the end of two-day FOMC meeting. The central bank also indicated three interest rate cuts by 2024-end.
These developments turned investor sentiments bullish on bank stocks as high funding costs being faced by the industry players will somewhat come down next year. This will support net interest income and margin growth. Hence, the FVCB stock moved higher.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -9.1%. Revenues are expected to be $14.1 million, down 11.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FVCBankcorp, 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 FVCB going forward to see if this recent jump can turn into more strength down the road.
FVCBankcorp belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, First Guaranty Bancshares (FGBI - Free Report) , closed the last trading session 7.4% higher at $11.73. Over the past month, FGBI has returned 11.4%.
First Guaranty Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of -81%. First Guaranty Bancshares currently boasts a Zacks Rank of #4 (Sell).
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FVCBankcorp (FVCB) Soars 5.9%: Is Further Upside Left in the Stock?
FVCBankcorp (FVCB - Free Report) shares soared 5.9% in the last trading session to close at $14.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% gain over the past four weeks.
Shares of FVCBankcorp rallied for the third consecutive day. The Federal Reserve has signaled end of the current rate cycle and kept the interest rates unchanged at 22-year high of 5.25-5.5% at the end of two-day FOMC meeting. The central bank also indicated three interest rate cuts by 2024-end.
These developments turned investor sentiments bullish on bank stocks as high funding costs being faced by the industry players will somewhat come down next year. This will support net interest income and margin growth. Hence, the FVCB stock moved higher.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -9.1%. Revenues are expected to be $14.1 million, down 11.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FVCBankcorp, 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 FVCB 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 >>>>
FVCBankcorp belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, First Guaranty Bancshares (FGBI - Free Report) , closed the last trading session 7.4% higher at $11.73. Over the past month, FGBI has returned 11.4%.
First Guaranty Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of -81%. First Guaranty Bancshares currently boasts a Zacks Rank of #4 (Sell).