UBS on Mid-Cap Banks: Q2 Earnings Preview - Not Exposing Ourselves To Europe
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Price: $18.10 --0%
Rating Summary:
13 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
13 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Trade FITB Now!
UBS on Mid-Cap Banks: Q2 Earnings Preview
Analyst, Stephen Scinicariello, said, "Mid cap regional bank stocks are down 6% on average over the past quarter due to a return of concerns pertaining to global macroeconomic events. Due to their lack of direct exposure to these risks and favorable relative positioning in the new regulatory paradigm, we continue to see several attractive opportunities. As such, we are above consensus estimates for 50% of our coverage by an average of 6%."
"Notably, we are increasing our estimates for Fifth Third (Nasdaq: FITB) (+2% for ‘12E) due to strong mortgage banking activity and for Comerica (NYSE: CMA) (+3% for ‘12E) due to aggressive capital management. Due to modest NIM pressure for Zions (Nasdaq: ZION), we are lowering our estimates (-5% for ‘12E) and price target ($22 to $20)...Relative value appears quite attractive for KEY, FITB, and CMA."
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Analyst, Stephen Scinicariello, said, "Mid cap regional bank stocks are down 6% on average over the past quarter due to a return of concerns pertaining to global macroeconomic events. Due to their lack of direct exposure to these risks and favorable relative positioning in the new regulatory paradigm, we continue to see several attractive opportunities. As such, we are above consensus estimates for 50% of our coverage by an average of 6%."
"Notably, we are increasing our estimates for Fifth Third (Nasdaq: FITB) (+2% for ‘12E) due to strong mortgage banking activity and for Comerica (NYSE: CMA) (+3% for ‘12E) due to aggressive capital management. Due to modest NIM pressure for Zions (Nasdaq: ZION), we are lowering our estimates (-5% for ‘12E) and price target ($22 to $20)...Relative value appears quite attractive for KEY, FITB, and CMA."
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