Pulaski Financial Upped to Strong Buy - Analyst Blog


On Aug 3, Zacks Investment Research upgraded Pulaski Financial Corporation ( PULB ) to a Zacks Rank #1 (Strong Buy).

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 prior-year quarter.

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 period.

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. ( WAFD ), Provident Financial Services, Inc. ( PFS ) and Banner Corporation ( BANR ).

BANNER CORP (BANR): Free Stock Analysis Report

PROVIDNT FIN SV (PFS): Free Stock Analysis Report

PULASKI FINL CP (PULB): Free Stock Analysis Report

WASH FEDL INC (WAFD): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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

This article appears in: Investing , Business , Stocks

Referenced Stocks: BANR , PFS , PULB , WAFD



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