Monarch Financial Holdings, Inc.
) achieved a new 52-week high, touching $12.55 at the end of the
trading session on Aug 22, 2013. The closing price of this bank
holding company reflects a robust year-to-date return of 50.8%.
The trading volume for the session was 0.13 million shares,
compared to the 3-month average of 0.02 million shares.
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Despite the strong price appreciation, this Zacks Rank #2 (Buy)
stock has plenty of upside left due to its estimate revisions.
Impressive second-quarter 2013 results comprising a positive
earnings surprise of 11.5%, improving loan and deposit balances,
strong capital position and enhanced credit quality were the
primary growth drivers for Monarch Financial.
On Jul 25, Monarch Financial reported second-quarter earnings per
share of 29 cents, surpassing the Zacks Consensus Estimate by 3
cents. Moreover, earnings improved 2 cents from the prior-year
The better-than-expected results were primarily driven by
increase in both net interest and non-interest income, partially
offset by higher operating expenses.
Additionally, Monarch Financial has delivered positive earnings
surprises in the trailing 4 quarters with an average beat of
For 2013, the Zacks Consensus Estimate moved north by 2.6% to
$1.17 per share over the last 30 days, based on the sole estimate
being revised upwards. For 2014, the Zacks Consensus Estimate
inched up 1.6% to $1.26 per share over the same time period.
Some better performing banks in the Southeast include
Farmers Capital Bank Corporation
First M&F Corporation
). All of them carry a Zacks Rank #1 (Strong Buy).