Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Avidbank Holdings Inc. (AVBH) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Avidbank Holdings Inc. is a member of the Finance sector. This group includes 863 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Avidbank Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVBH's full-year earnings has moved 0.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AVBH has moved about 20.9% on a year-to-date basis. In comparison, Finance companies have returned an average of 14.9%. This means that Avidbank Holdings Inc. is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Applied Digital Corporation (APLD). The stock is up 328.9% year-to-date.
In Applied Digital Corporation's case, the consensus EPS estimate for the current year increased 8.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avidbank Holdings Inc. belongs to the Banks - West industry, a group that includes 27 individual stocks and currently sits at #28 in the Zacks Industry Rank. This group has gained an average of 1.2% so far this year, so AVBH is performing better in this area.
On the other hand, Applied Digital Corporation belongs to the Financial - Miscellaneous Services industry. This 102-stock industry is currently ranked #76. The industry has moved -2.9% year to date.
Going forward, investors interested in Finance stocks should continue to pay close attention to Avidbank Holdings Inc. and Applied Digital Corporation as they could maintain their solid performance.
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Avidbank Holdings Inc. (AVBH): Free Stock Analysis Report Applied Digital Corporation (APLD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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