Cascade Bancorp (CACB) Surges: Why It Still Has Room to Run?

Zacks

One company that should be on your radar is Cascade Bancorp (CACB). The stock of this Oregon based financial holding company has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Buy.

A key reason for this move has been the positive trend in the earnings estimate revisions picture. For CACB’s full year estimate, we have seen 1 estimate goes higher in the past 30 days, compared to no estimate moving lower. This trend has helped the consensus estimate to trend higher, going from 12 cents a share a month ago to its current level at 14 cents.

This positive shift in estimates has made some investors take notice and buy the stock. In fact, CACB has seen some pretty solid trading lately, as the company has moved higher by 13.16% in the past month.

If Cascade can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put CACB on your watch list for the future.

Other top-ranked stocks worth considering in this space include Sierra Bancorp (BSRR), Central Valley Community Bancorp (CVCY) and Preferred Bank (PFBC). All these carry a Zacks Rank #1 (Strong Buy).

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CASCADE BANCORP (CACB): Free Stock Analysis Report

PREFERRED BANK (PFBC): Free Stock Analysis Report

SIERRA BANCORP (BSRR): Free Stock Analysis Report

CENTRAL VALLEY CMTY BANCORP (CVCY): Free Stock Analysis Report


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