First Savings Financial (FSFG) Surges 5.0%: Is This an Indication of Further Gains?
First Savings Financial (FSFG) shares soared 5% in the last trading session to close at $14.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.1% gain over the past four weeks.
First Savings Financial witnessed a rise in price for the sixth consecutive day. The Federal Reserve paused interest rate hikes last month, bringing finance stocks into the spotlight. Investor sentiment is turning positive for the industry. This probably drove the FSFG stock in the last day’s trading session.
This bank holding company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +48.7%. Revenues are expected to be $22.8 million, down 12.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For First Savings Financial, 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 FSFG 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 >>>>
First Savings Financial is part of the Zacks Financial - Savings and Loan industry. OceanFirst Financial (OCFC), another stock in the same industry, closed the last trading session 1.8% lower at $15.45. OCFC has returned -5.2% in the past month.
For OceanFirst , the consensus EPS estimate for the upcoming report has changed -21.5% over the past month to $0.50. This represents a change of -15.3% from what the company reported a year ago. OceanFirst currently has a Zacks Rank of #5 (Strong Sell).
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First Savings Financial Group, Inc. (FSFG) : Free Stock Analysis Report
OceanFirst Financial Corp. (OCFC) : Free Stock Analysis Report
