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Nomura Securities on U.S. Banks: Model Updates

April 25, 2012 1:17 PM EDT
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Nomura Securities on U.S. Banks: Model Updates

Analyst, Brian Foran, said, "Post the quarter, our estimates rise by 5% in 2012 and 2% in 2013. The primary driver in 2012 is better mortgage revenues, with an assist from faster-than-modeled credit improvement and a higher base of NIMs in 1Q (although the pace of NIM declines looking forward stays about the same). Looking to 2013, the estimate revisions are smaller as the HARP-based windfall in mortgage comes to an end.

Synovus Financial (NYSE: SNV): 2012E EPS from $0.05 to $0.07; PT from $1.8 to $2.0

Comerica (NYSE: CMA): 2012E EPS from $2.25 to $2.50; PT from $28.0 to $32.0

SunTrust (NYSE: STI): 2012E EPS from $1.80 to $1.90;

Western Alliance (NYSE: WAL): 2012E EPS from $0.60 to $0.63; PT from $8.5 to $9.5

Huntington (Nasdaq: HBAN): 2012E EPS from $0.62 to $0.65; PT from $6.0 to $6.5

BB&T (NYSE: BBT): 2012E EPS from $2.45 to $2.55; PT from $25.0 to $28.0

American Express (NYSE: AXP): 2012E EPS from $4.15 to $4.30; PT from $52.0 to $58.0

Fifth Third (Nasdaq: FITB): 2012E EPS from $1.50 to $1.55

KeyCorp (NYSE: KEY): 2012E EPS from $0.75 to $0.77; PT from $7.0 to $7.7

U.S. Bancorp (NYSE: USB): 2012E EPS from $2.80 to $2.85

Wells Fargo (NYSE: WFC): 2012E EPS from $3.35 to $3.40

PNC Financial (NYSE: PNC): 2012E EPS from $6.45 to $6.50

City National (NYSE: CYN): 2012E EPS from $3.45 to $3.45; PT from $47.0 to $53.0

Regions Financial (NYSE: RF): 2012E EPS from $0.50 to $0.50; PT from $6.5 to $7.0

Zions Bancorp (Nasdaq: ZION): 2012E EPS from $1.55 to $1.50; PT from $18.0 to $20.0

First Horizon National (NYSE: FHN): 2012E EPS from $0.60 to $0.55


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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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BB&T Capital Markets, Nomura, Wells Fargo