On Apr 3, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy).
META FINL GRP (CASH): Free Stock Analysis
CU BANCORP CA (CUNB): Free Stock Analysis
FLAGSTAR BANCP (FBC): Free Stock Analysis
FIRST DEFIANCE (FDEF): Free Stock Analysis
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Why the Upgrade?
CU Bancorp has been witnessing rising earnings estimates based on
strong fourth quarter 2012 results. Moreover, this regional bank
delivered positive earnings surprises in 2 of the last 4 quarters
with an average beat of 195.2%.
CU Bancorp reported fourth-quarter results on Jan 31. Earnings
came in at 15 cents per share, beating the Zacks Consensus
Estimate by 2 cents as well as the year-ago earnings by 200%.
Results were primarily aided by solid top-line growth on the back
of higher net interest and non-interest income, partially offset
by an increase in expenses.
Net interest income climbed 70% year over year to $11.8 million.
Further, non-interest income surged 180% to $1.4 million.
Non-interest expenses grew 50% year over year to $9.5 million.
Asset quality of the company improved in the reported quarter.
Allowance for loan losses stood at 1.03% of total loans, down 50
basis points year over year. Further, non-accrual loans stood at
1.23% of total loans, down 3 basis points year over year
The Zacks Consensus Estimate for 2013 moved up 4% to 79 cents
over the last 60 days. Over the same time frame, the Zacks
Consensus Estimate for 2014 moved up 3%.
Other Stocks to Consider
While we prefer CU Bancorp, other banks carrying a Zacks Rank #1
Meta Financial Group, Inc.
Flagstar Bancorp Inc.
First Defiance Financial Corp.