Despite higher interest rates and expectations of even higher interest rates, these NASDAQ
-traded bank stocks established new 52-week highs this week. This is remarkable and unusual given that the major New York-centered financial institutions keep trending lower in price.
These are smallish banking operations and the average daily volume of each is less than might be expected. That could keep away institutional investors looking for greater liquidity, but these NASDAQ stocks are traded daily and making their investors happy.
Banner Corporation (NASDAQ: BANR) is headquartered in Walla Walla, Washington. The daily price chart looks like this:
The bank’s earnings per share this year are up by 76% and the past 5-year record for EPS growth is 17.90%. Shareholder equity greatly exceeds long-term debt. It’s trading at 1.50 times book value with a price-earnings ratio of 11 and a forward p/e of 10.53. Average daily volume is definitely light at just 149,000 shares. Banner Corp pays a dividend of 2.71%.
This year’s earnings per share increased by 20.50%. For the past 5-year, earnings have grown by 10.70%. The bank holds no — that is, zero — long-term debt. The price to free cash flow metric is a strong 25.75. It trades at 1.91 times book value with a price-earnings ratio of 18.72. Average daily volume is 618,000 shares. CVB Financial is paying a dividend of 2.95%.
First Interstate BancSystem Inc (NASDAQ: FIBK) is based in Billings, Montana with operations in that state as well as in Colorado, Arizona and a number of Western states.
Earnings per share this year are up by 88.98% and the past 5-years record shows a gain of 7.90%. The bank’s shareholder equity vastly exceeds any long-term debt on the books. Averaged daily volume is 653,000 shares. With a price-earnings ratio of 23, it trades at 1.44 times book value. First Interstate BancSystem pays a 3.81% dividend. In May, Keefe Bruyette analysts moved their rating on the stock from “market perform” to “outperform” with a price target of $45.
International Bancshares Corporation (NASDAQ: IBOC) is headquartered in Laredo, Texas with facilities and ATM’s in the Lone Star State and in Oklahoma.
The past 5-years earnings per share are up by 14.60% and this year’s EPS grew at a 52.60% pace. The stock trades at 1.38 book value with a price-earnings ratio of 13. Price to free cash flow comes in at 14. This is another small-ish NASDAQ-traded bank stock with much more shareholder equity than long-term debt. Average daily volume is 258,000 shares. International Bancshares pays a dividend of 2.61%.
Earnings per share this year increased by 99.30% and the past 5-years EPS growth is 10.40%. The stock trades at a 3% discount to its book value with a price-earnings ratio of 13. Long-term debt is a fraction of shareholder equity. WesBanco pays a 3.64% dividend. Average daily volume is a mere 148,000 shares. Janney recently initiated coverage with a “neutral” ratings and a price target of $47.
Not investment advice. For educational purposes only.