On Jul 6, Zacks Investment Research upgraded
Cape Bancorp, Inc.
) to a Zacks Rank #1 (Strong Buy).
FIRST PACTRUST (BANC): Free Stock Analysis
BANNER CORP (BANR): Free Stock Analysis
CAPE BANCORP (CBNJ): Free Stock Analysis
WESTFIELD FINL (WFD): Free Stock Analysis
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Why the Upgrade?
Cape Bancorp has been witnessing rising earnings estimates on the
back of strong first-quarter 2013 results. Moreover, this
well-known various business and personal banking products and
services provider delivered positive earnings surprises in 3 of
the last 4 quarters with an average beat of 36.5%.
Cape Bancorp reported its first-quarter results on Apr 19 with
earnings per share of 12 cents, beating the Zacks Consensus
Estimate of 7 cents by 71.4%. Robust results for the reported
quarter were primarily aided by substantial reduction in
provision for loan losses. Moreover, the company reflected a
strong capital position and a marked improvement in credit
As of Mar 31, 2013, total net loans stood at $720.6 million, up
from $714.4 million in the prior quarter. Core deposits totaled
$544.0 million, representing a hike of $1.6 million sequentially.
Reduced net interest and non-interest income along with
undisciplined expense management were on the downside. Therefore,
efficiency ratio deteriorated to 73.18% from 70.74% in the prior
Following first-quarter 2013 results, the Zacks Consensus
Estimate for 2013 jumped 13.3% to 34 cents per share over the
last 60 days. For 2014, the Zacks Consensus Estimate surged 9.4%
to 35 cents per share over the same time frame.
Other Stocks to Consider
Besides Cape Bancorp, other stocks in the same sector that are
worth considering include
First PacTrust Bancorp, Inc.
Westfield Financial Inc.
). All the 3 companies carry a Zacks Rank #1.