SOuth Atlantic Bancshares, Inc. (SABK), reported quarterly earnings of $0.33 per stock, exceeding the Zacks Consensus Estimate for $0.30 per share. This compares to earnings at $0.32 per share one year ago. These numbers have been adjusted for non-recurring expenses.
This quarterly report is an earnings surprise by 10%. It was expected that the company would report earnings of $0.23 per shares a quarter ago. However, earnings actually reached $0.26 per share, which is a surprise of 13.04%.
In the last four quarters, consensus EPS estimates were exceeded by the company three times.
South Atlantic Bancshares, Inc.
Based on the most recent numbers, the sustainability of the stock’s price movement and future earnings expectations will largely depend on management’s comments on the earnings call.
South Atlantic Bancshares, Inc. Shares have lost about 2.9% since the beginning of the year versus the S&P 500’s decline of -19.6%.
What’s next for South Atlantic Bancshares, Inc.
South Atlantic Bancshares, Inc. has outperformed the market this year, but investors are left wondering: What’s the next step for the stock?
While there are no simple answers to this crucial question, investors can look at the earnings outlook of the company. This includes current consensus earnings estimates for the next quarter(s), as well as how they have changed in recent months.
Empirical research has shown a strong correlation between near term stock movements and trends of earnings estimate revisions. Investors have two options: track these revisions on their own or rely upon a proven rating tool such as the Zacks Rank. This rating tool has a strong track record in harnessing the power earnings estimate revisions.
This is the best way to get ahead earnings releaseThe South Atlantic Bancshares, Inc. mixed has seen a rise in estimate revisions. The company’s earnings report has just been released and could alter the direction and magnitude of the estimate revisions. However, the current Zacks rank for the stock is #3 (Hold). Therefore, the stock is expected to perform in line the market in the short term. See the full article. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting for us to see how the estimates for the next quarters and the current fiscal year change over the coming days. Current consensus EPS estimates are $0.34 on $12million in revenue for the next quarter and $1.28 for $46.9million in revenues for fiscal year 2018.
Investors need to be aware that the outlook for an industry can also have a significant impact on the stock’s performance. Banks – Southeast currently ranks among the top 14% of all 250 plus Zacks industry ranked. Our research shows that the top 50 percent of Zacks-ranked industry outperforms those in the bottom half by more than two to 1.
South Plains Financial, another stock from the same sector, has yet to release results for its quarter ended June 2022. Expected release of the results is July 22.
The company expects to report quarterly earnings of $0.50 per stock in the upcoming report. This is a change of -32.4% year-over-year. The consensus EPS estimate has been adjusted to the current level by 5.1% over the past 30 days.
South Plains Financial’s revenues will be $48.5million, which is 6.4% less than the quarter before.
These views and opinions are solely the opinions of the author. They do not necessarily reflect the views of Nasdaq, Inc.