LNB Bancorp Inc
) crafted a new 52-week high, touching $9.95 on Aug 16, 2013. The
closing price of this financial holding company represents a
solid year-to-date return of 58.6%. The trading volume for the
session was 15,148 shares, substantially higher than the average
of 8,822 shares over the last 3 months.
Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock
has plenty of upside left, given its strong estimate revisions
over the last 30 days.
The impressive second-quarter 2013 results - including an
earnings surprise of 5.88% - were the primary growth drivers.
On Jul 25, LNB Bancorp reported second-quarter earnings of 18
cents per share, marginally surpassing the Zacks Consensus
Estimate of 17 cents. It also surpassed the prior-quarter
earnings of 14 cents. Results were driven by increase in
non-interest income and reduction in operating expenses,
partially offset by a decline in net interest income. Moreover,
improved credit quality as well as capital ratios were the other
highlights for the quarter.
Moreover, LNB Bancorp has delivered positive earnings surprises
in 2 of the last 4 quarters with an average beat of 5.18%.
Estimate Revisions Show Strength
Over the last 30 days, the Zacks Consensus Estimate has been
revised upward by 1.5% to 69 cents per share. For 2014, the Zacks
Consensus Estimate advanced 4.5% to 69 cents per share over the
same time frame.
Other stocks that are also worth considering in the same industry
First Interstate Bancsystem Inc
). All these carry a Zacks Rank #1 (Strong Buy).
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