Astoria Financial Corporation
) reached a new 52-week high, touching $13.98 in the second half
of the trading session on Nov 25. However, the stock closed the
session at $13.90, reflecting a year-to-date return of 48.3%. The
trading volume for the session was 323,284 shares.
Despite the strong price appreciation, this Zacks Rank #2 (Buy)
bank has considerable upside left, given its expected earnings
per share (EPS) growth rate of 5.93% for 2013.
Astoria Financial's impressive performance came on the back of
strong third-quarter 2013 results, which included a positive
earnings surprise of 7.14%. The company also maintains a robust
capital position in compliance with the regulatory guidelines.
On Oct 16, Astoria Financial declared third-quarter earnings of
15 cents per share, beating the Zacks Consensus Estimate of 14
cents. Moreover, net income of $14.7 million marked a 10.3%
Net interest income was $86.2 million, up 0.2% year over year.
Further, provision for loan losses was $2.5 million, down 73.3%
from the prior-year quarter. Additionally, non-interest expenses
dropped 0.2% year over year to $72.5 million. However, total
non-interest income was 15.3 million, down 7.6% from the year-ago
Additionally, Astoria Financial has delivered positive earnings
surprises in the trailing 4 quarters with an average beat of
In the last 30 days, the Zacks Consensus Estimate for 2013 as
well as 2014 remained stable at 0.57 and 0.63, respectively.
Apart from Astoria Financial, other banks which are worth
WSFS Financial Corp.
Mutualfirst Financial Inc.
Investors Bancorp Inc.
). All these stocks carry a Zacks Rank #1 (Strong Buy).
ASTORIA FINL CP (AF): Free Stock Analysis
INVESTORS BANCP (ISBC): Free Stock Analysis
MUTUALFIRST FIN (MFSF): Free Stock Analysis
WSFS FINL CORP (WSFS): Free Stock Analysis
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