County Bancorp (ICBK) got here out with quarterly earnings of $0.70 per share, beating the Zacks Co
County Bancorp (ICBK) got here out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.47 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 89.19%. 1 / 4 in the past, it was anticipated that this financial institution that lends to dairy farmers would publish earnings of $0.22 per share when it truly produced earnings of $0.52, delivering a shock of 136.36%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.
County Bancorp, which belongs to the Zacks Banks – Northeast business, posted revenues of $15.13 million for the quarter ended December 2020, surpassing the Zacks Consensus Estimate by 20.38%. This compares to year-ago revenues of $13.26 million. The corporate has topped consensus income estimates 3 times during the last 4 quarters.
The sustainability of the inventory’s fast worth motion primarily based on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
County Bancorp shares have misplaced about 9.9% because the starting of the 12 months versus the S&P 500’s achieve of two.6%.
What’s Subsequent for County Bancorp?
Whereas County Bancorp has underperformed the market thus far this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful observe report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for County Bancorp was combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the whole listing of at present’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.40 on $12.42 million in revenues for the approaching quarter and $1.33 on $48.57 million in revenues for the present fiscal 12 months.
Traders ought to be conscious of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Banks – Northeast is at the moment within the prime 22% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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County Bancorp, Inc. (ICBK): Free Inventory Evaluation Report
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