Northeast Banks' Q2 Earnings to Watch: VLY, TRCB & More
Better-than-expected second-quarter results from most of the banks that have reported so far have lifted the market’s sentiments about the industry as a whole.
Nevertheless, the results reflect banks’ continued revenue growth challenges amid the persistently low interest environment and heightened regulatory pressure. Further, the Brexit fallout added to the woes.
Moreover, earnings estimates for the banks that are yet to announce results are not encouraging. Per our latest Earnings Preview report, overall earnings for the Finance sector (of which banks form the majority) in second-quarter 2016 are expected to be down 0.4% year over year.
Let’s take a look at what’s in store for the following Northeast banks that are scheduled to release their results on Jul 27.
The Zacks Consensus Estimate for Valley National Bancorp’s VLY earnings has remained stable over the last 30 days at 16 cents, reflecting year-over-year growth of 14.3%.
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.
The company posted an average negative earnings surprise of 4.8% over the trailing four quarters.
VALLEY NATL BCP Price and EPS Surprise
VALLEY NATL BCP Price and EPS Surprise | VALLEY NATL BCP Quote
Two River Bancorp’s TRCB Zacks Consensus Estimate of 21 cents remained unchanged over the last 30 days. Notably, the estimate reflects 16.7% year-over-year growth.
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.
Two River delivered an average positive earnings surprise of 5% over the trailing four quarters.
TWO RIVER BCP Price and EPS Surprise
TWO RIVER BCP Price and EPS Surprise | TWO RIVER BCP Quote
Suffolk Bancorp’s SCNB Zacks Consensus Estimate of 41 cents has remained steady over the past 30 days. It indicates a decline of 4.7% year over year.
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.
Notably, the company posted positive earnings surprises in two of the trailing four quarters with an average positive beat of 11.7%.
SUFFOLK BCP Price and EPS Surprise
SUFFOLK BCP Price and EPS Surprise | SUFFOLK BCP Quote
The Zacks Consensus Estimate for Orrstown Financial Services Inc. ORRF has remained constant over the last 30 days. The estimate of 21 cents reflects year-over-year growth of 16.7%.
Further, the company holds a Zacks Rank #3, with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
Orrstown Financial boasts an average positive earnings surprise of 26.6% over the last four quarters.
ORRSTOWN FINL Price and EPS Surprise
ORRSTOWN FINL Price and EPS Surprise | ORRSTOWN FINL Quote
First Commonwealth Financial Corp.’s FCF Zacks Consensus Estimate of 17 cents has remained unchanged over the last 30 days. This estimate depicts an improvement of 11.1% year over year.
Though the company carries a Zacks Rank #3, it has an Earnings ESP of 0.00%. Hence, it is difficult to conclusively predict an earnings beat.
The company posted an average negative earnings surprise of 7.9% over the trailing four quarters.
FIRST COMW FINL Price and EPS Surprise
FIRST COMW FINL Price and EPS Surprise | FIRST COMW FINL Quote
County Bancorp, Inc’s ICBK Zacks Consensus Estimate of 37 cents has remained constant over the past 30 days. This figure indicates a rise of 2.8% year over year.
The company has a Zacks Rank #3 with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat this quarter.
County Bancorp delivered positive earnings surprises in two of the trailing four quarters with an average positive surprise of 22%.
COUNTY BANCORP Price and EPS Surprise
COUNTY BANCORP Price and EPS Surprise | COUNTY BANCORP Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
VALLEY NATL BCP (VLY): Free Stock Analysis Report
FIRST COMW FINL (FCF): Free Stock Analysis Report
ORRSTOWN FINL (ORRF): Free Stock Analysis Report
COUNTY BANCORP (ICBK): Free Stock Analysis Report
SUFFOLK BCP (SCNB): Free Stock Analysis Report
TWO RIVER BCP (TRCB): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
