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Old National Bancorp (ONB) - $25 value - yours FREE >>
CNB Financial Corporation (CCNE) - $25 value - yours FREE >>
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Old National Bancorp (ONB) - $25 value - yours FREE >>
CNB Financial Corporation (CCNE) - $25 value - yours FREE >>
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Bank Stocks' Q2 Earnings to Watch on Aug 1: CCNE, ONB, SBBX
The overall picture looks reassuring for the banks, as most of the banks that have reported second-quarter results so far beat earnings expectations. While the overall operating environment was challenging during the quarter, solid loan growth and favorable domestic economic factors helped banks perform better than what the market had expected.
However, earnings estimates for the S&P 500 stocks in the industry indicate a year-over-year decline. 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 what’s in store for the following banks (which form part of the broader Finance sector) that are scheduled to release their results on Aug 1.
The Zacks Consensus Estimate for CNB Financial Corp.’s (CCNE - Free Report) earnings has remained stable over the last 30 days at 38 cents, reflecting a year-over-year decline of 2.6%.
Further, with a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%, the probability of an earnings beat by the company is quite low.
CNB Financial has posted an average positive earnings surprise of 3.5% over the trailing four quarters.
CNB FINL CP PA Price and EPS Surprise
CNB FINL CP PA Price and EPS Surprise | CNB FINL CP PA Quote
Old National Bancorp’s (ONB - Free Report) Zacks Consensus Estimate of 25 cents was revised upward from 22 cents over the last 30 days. The estimate reflects no growth over the year-ago quarter.
However, the company has a Zacks Rank #3 (Hold) with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
The company delivered an average positive earnings surprise of 1.7% over the trailing four quarters.
OLD NATL BCP Price and EPS Surprise
OLD NATL BCP Price and EPS Surprise | OLD NATL BCP Quote
Sussex Bancorp’s Zacks Consensus Estimate of 24 cents has remained unchanged over the past 30 days. Notably, it indicates year-over-year growth of 26.3%.
Though the company holds a Zacks Rank #3, it has an Earnings ESP of 0.00%. Hence, our quantitative model does not conclusively predict an earnings beat.
The company posted an average positive earnings surprise of 14.6% over the trailing four quarters.
SUSSEX BANCORP Price and EPS Surprise
SUSSEX BANCORP Price and EPS Surprise | SUSSEX BANCORP Quote
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