Jefferies Sees Bank Dividend Payouts Approaching 30%; Sees Likely Dividend Raises at (USB) (STT) (BK) (JPM) (WFC)

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Analysts at Jefferies are considering dividend payouts at the big and Regional banks this morning. The firm notes that "the pending results of the current stress test should open the door for modest dividend hikes for some banks, and we expect payout ratios to gradually climb to 30% over time."

Jefferies breakdown of the dividend picture is below.

More likely to increased dividend (current qtr. dividend vs. dividend at 30% payout of Q1 earnings):

• US Bancorp (NYSE: USB) - 5c to 18c per common share
  
• State Street (NYSE: STT) - 1c to 26c
  
• Bank of New York Mellon (NYSE: BK) - 9c to 18c
  
• PNC (NYSE: PNC) - 10c to 41c
  
• JPMorgan (NYSE: JPM) - 5c to 35c
  
• Wells Fargo (NYSE: WFC) - 5c to 20c

Less likely to increase dividend:

• BofA (NYSE: BAC)
  
• Citi (NYSE: C)
  
• BB&T (NYSE: BBT)
  
• Fifth Third Bancorp (Nasdaq: FITB)

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JPMorgan, Citi, Jefferies & Co, Bank of America, BB&T Capital Markets, Dividend, Earnings, Wells Fargo

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