LNB Bancorp Touches New 52-Week High - Analyst Blog

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Shares of LNB Bancorp Inc . ( LNBB ) 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.

Growth Drivers

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 include First Interstate Bancsystem Inc . ( FIBK ), Firstbank Corporation ( FBMI ) and PrivateBancorp, Inc . ( PVTB ). All these carry a Zacks Rank #1 (Strong Buy).



FIRSTBANK ALMA (FBMI): Free Stock Analysis Report

FIRST INTST MT (FIBK): Free Stock Analysis Report

LNB BANCORP INC (LNBB): Free Stock Analysis Report

PRIVATEBANCORP (PVTB): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: FBMI , FIBK , LNBB , PVTB

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