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The second-quarter earnings season is in full swing now and investors are keeping a close watch on the performance of companies. The results reported by banks so far don’t look as bad as they were during the first quarter – which was afflicted by several issues, including slowdown of the Chinese economy, continued instability in commodity prices, global growth uncertainties and low rates.
While most of the issues lingered in the second quarter, a rebound in oil prices and continued recovery of the domestic economy offset the negatives to some extent.
However, banks continued to face revenue growth challenges amid the persistently low interest rate environment and heightened regulatory pressure. Further, the Brexit fallout has fueled concerns.
Per the latest Zacks Earnings Outlook report, overall earnings for the S&P 500 stocks in the Finance sector are expected to be down 1.4% year over year on a 0.4% decline in revenues.
Let’s take a look at the following savings and loan companies (which form part of the broader Finance sector) that are expected to report their second-quarter 2016 results on Jul 29.
The Zacks Consensus Estimate for First Niagara Financial Group Inc. has remained steady over the past 30 days. The estimate of 15 cents reflects year-over-year growth of 2.2%.
Further, the company has a Zacks Rank #4 (Sell) along with an Earnings ESP of 0.00%. Hence, the probability of an earnings beat this quarter is quite low.
First Niagara has posted an average positive earnings surprise of 1.8% in the trailing four quarters.
HopFed Bancorp Inc.’s Zacks Consensus Estimate of 11 cents has remained stable over the last 30 days. Notably, the estimate for the company’s earnings has surged 650% year over year.
The company’s Zacks Rank #3 (Hold) and Earnings ESP of 0.00% makes it difficult to conclusively predict an earnings beat this quarter.
However, HopFed posted a negative average surprise of 27.1% over the trailing four quarters.
Provident Financial Services, Inc.’s (PFS - Free Report) Zacks Consensus Estimate has remained unchanged over the past 30 days at 33 cents. This estimate, however, reflects a year-over-year decline of 5.7%.
Notably, the company holds a Zacks Rank #3 along with an Earnings ESP of 0.00%. Thus, we cannot conclusively predict an earnings beat.
Provident Financial Services posted an average beat of 0.1% in the trailing four quarters.
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Savings & Loan Stocks' Q2 Earnings Preview: FNFG, HFBC, PFS
The second-quarter earnings season is in full swing now and investors are keeping a close watch on the performance of companies. The results reported by banks so far don’t look as bad as they were during the first quarter – which was afflicted by several issues, including slowdown of the Chinese economy, continued instability in commodity prices, global growth uncertainties and low rates.
While most of the issues lingered in the second quarter, a rebound in oil prices and continued recovery of the domestic economy offset the negatives to some extent.
However, banks continued to face revenue growth challenges amid the persistently low interest rate environment and heightened regulatory pressure. Further, the Brexit fallout has fueled concerns.
Per the latest Zacks Earnings Outlook report, overall earnings for the S&P 500 stocks in the Finance sector are expected to be down 1.4% year over year on a 0.4% decline in revenues.
Let’s take a look at the following savings and loan companies (which form part of the broader Finance sector) that are expected to report their second-quarter 2016 results on Jul 29.
The Zacks Consensus Estimate for First Niagara Financial Group Inc. has remained steady over the past 30 days. The estimate of 15 cents reflects year-over-year growth of 2.2%.
Further, the company has a Zacks Rank #4 (Sell) along with an Earnings ESP of 0.00%. Hence, the probability of an earnings beat this quarter is quite low.
First Niagara has posted an average positive earnings surprise of 1.8% in the trailing four quarters.
FIRST NIAGARA Price and EPS Surprise
FIRST NIAGARA Price and EPS Surprise | FIRST NIAGARA Quote
HopFed Bancorp Inc.’s Zacks Consensus Estimate of 11 cents has remained stable over the last 30 days. Notably, the estimate for the company’s earnings has surged 650% year over year.
The company’s Zacks Rank #3 (Hold) and Earnings ESP of 0.00% makes it difficult to conclusively predict an earnings beat this quarter.
However, HopFed posted a negative average surprise of 27.1% over the trailing four quarters.
HOPFED BANCORP Price and EPS Surprise
HOPFED BANCORP Price and EPS Surprise | HOPFED BANCORP Quote
Provident Financial Services, Inc.’s (PFS - Free Report) Zacks Consensus Estimate has remained unchanged over the past 30 days at 33 cents. This estimate, however, reflects a year-over-year decline of 5.7%.
Notably, the company holds a Zacks Rank #3 along with an Earnings ESP of 0.00%. Thus, we cannot conclusively predict an earnings beat.
Provident Financial Services posted an average beat of 0.1% in the trailing four quarters.
PROVIDNT FIN SV Price and EPS Surprise
PROVIDNT FIN SV Price and EPS Surprise | PROVIDNT FIN SV Quote
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