Strength Seen in SB Financial Group, Inc. (SBFG): Can Its 6.0% Jump Turn into More Strength?
SB Financial Group, Inc. SBFG shares ended the last trading session 6% higher at $13.20. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% loss over the past four weeks.
Despite the current high interest rate environment along with the ongoing inflation pressure and other domestic and global headwinds, the U.S. economy has grown faster than expected in the third quarter. According to the advance estimate released by the Bureau of Economic Analysis yesterday, real GDP in the United States increased at an annual rate of 4.9% in the third quarter. The growth can be attributed to strong consumer spending, increased inventories, exports, residential investment and government spending. This positive development probably drove the SB Financial stock higher in last day’s trading session.
This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of -12.8%. Revenues are expected to be $12.7 million, down 12.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For SB Financial Group, Inc., 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 SBFG 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 >>>>
SB Financial Group, Inc. belongs to the Zacks Banks - Northeast industry. Another stock from the same industry, Citizens & Northern CZNC, closed the last trading session 2.8% higher at $18.30. Over the past month, CZNC has returned 1%.
Citizens & Northern's consensus EPS estimate for the upcoming report has changed +2.6% over the past month to $0.45. Compared to the company's year-ago EPS, this represents a change of +55.2%. Citizens & Northern currently boasts a Zacks Rank of #3 (Hold).
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SB Financial Group, Inc. (SBFG) : Free Stock Analysis Report
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