On Aug 3, Zacks Investment Research upgraded
Pulaski Financial Corporation
) to a Zacks Rank #1 (Strong Buy).
BANNER CORP (BANR): Free Stock Analysis
PROVIDNT FIN SV (PFS): Free Stock Analysis
PULASKI FINL CP (PULB): Free Stock Analysis
WASH FEDL INC (WAFD): Free Stock Analysis
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Why the Upgrade?
Pulaski Financial has been witnessing rising earnings estimates
following the announcement of strong fiscal third-quarter 2013
results. Moreover, this regional bank has delivered earnings
surprise in the last 4 quarters, with an average beat of 8.2%.
Pulaski Financial reported fiscal third-quarter 2013 results on
Jul 30. Earnings per share beat the Zacks Consensus Estimate by
3.6% and the year-ago earnings by 45.0%. Results benefited from
higher fee income and stable operating expenses, partially offset
by a drop in net interest income.
Net interest income fell 4.2% year over year to $11.2 million due
to a 7.0% drop in interest income. However, non-interest income
increased 19.8% to $4.9 million. Furthermore, non-interest
expense remained almost stable at $8.8 million.
Moreover, asset quality improved during the quarter. Provision
for loan losses declined 40.0% year over year to $1.8 million.
Likewise, net charge-offs were $1.8 million, down 43.8% from the
Additionally, following the earnings release, the Zacks Consensus
Estimate for fiscal 2013 increased 3.7% to $1.12 per share, over
the last 30 days. Similarly, for fiscal 2014, the Zacks Consensus
Estimate advanced 9.4% to $1.16 per share over the same time
Positive earnings surprises and favorable estimate revisions
stimulated the rank upgrade.
Other Stocks to Consider
While we prefer Pulaski Financial, other stocks carrying a Zacks
Rank #1 include
Washington Federal Inc.
Provident Financial Services, Inc.