Small Cap Banks Q2 Earnings Queued Up: ABCB, CNOB & More
Zacks Investment Research | Jul 20, 2016 10:03PM ET
Market sentiments lifted as some of the major banking giants beat earnings expectations in second-quarter 2016, signaling a potentially better picture for the industry as a whole this season.
Several issues including industry wide weakness and global concerns plagued the first quarter of this year, but the second quarter depicted a better environment to some extent with positives including rebound in oil prices and continued recovery of the U.S. economy. However, banks continue to face revenue growth challenges amid the persistently low environment and heightened regulatory pressure.
Per our latest CONNECTONE BCP Quote
Eastern Virginia Bankshares Inc. (NASDAQ:EVBS) : The Zacks Consensus Estimate of 11 cents for the company reflects solid year-over-year growth of 57.14%. However, the company has a Zacks Rank #3 with an Earnings ESP of 0.00%, lowering the chances of an earnings beat. Notably, estimates remained unchanged over the last 30 days.
Eastern Virginia delivered positive earnings surprises in two of the trailing four quarters with an average positive surprise of 4.15%.
First Bancshares Inc. (NASDAQ:FBMS) : The Zacks Consensus Estimate of 42 cents for the company has remained unchanged over the last 30 days. The estimate reflects year-over-year growth of 7.69%.
The company holds a Zacks Rank #3, with an Earnings ESP of 0.00%. Hence, the probability of an earnings beat by the company is quite low.
Notably, First Bancshares delivered positive earnings surprises in all the trailing four quarters with an average positive surprise of 10.74%.
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