UBS on Large Cap Banks: Q2 Preview - Continued Improvement; USB Top Pick
Tweet Send to a FriendGet Alerts PNC Hot Sheet
Price: $71.71 -0.68%
Rating Summary:
11 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Rating Summary:
11 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Trade PNC Now!
UBS on Large Cap Banks: Q2 Preview - Continued Improvement
Analyst, Greg Ketron, said, "We project EPS growth of 6% q/q and 32% y/y for our coverage, excluding PNC (NYSE: PNC) due to the charge to build the mortgage repurchase reserve. Our EPS estimates are slightly above consensus for three out of six stocks in our coverage. We see the greatest EPS upside at SunTrust (NYSE: STI), US Bancorp (NYSE: USB), and Wells Fargo (NYSE: WFC) this quarter, with BB&T (NYSE: BBT) and Regions Financial (NYSE: RF) mainly in-line and PNC below consensus due to the mortgage repurchase charge not being fully included in consensus estimates at this point."
Ketron's top pick in the group is U.S. Bancorp (NYSE: USB), although he thinks SunTrust has the highest upside potential, but with more risk. Lastly, he cuts PNC's price target from $66 to $63.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Greg Ketron, said, "We project EPS growth of 6% q/q and 32% y/y for our coverage, excluding PNC (NYSE: PNC) due to the charge to build the mortgage repurchase reserve. Our EPS estimates are slightly above consensus for three out of six stocks in our coverage. We see the greatest EPS upside at SunTrust (NYSE: STI), US Bancorp (NYSE: USB), and Wells Fargo (NYSE: WFC) this quarter, with BB&T (NYSE: BBT) and Regions Financial (NYSE: RF) mainly in-line and PNC below consensus due to the mortgage repurchase charge not being fully included in consensus estimates at this point."
Ketron's top pick in the group is U.S. Bancorp (NYSE: USB), although he thinks SunTrust has the highest upside potential, but with more risk. Lastly, he cuts PNC's price target from $66 to $63.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- The ExOne Company (XONE) Metal Opportunity to Keep Stock Going - FBR
- UPDATE: Exane BNP Paribas Downgrades BlackBerry (BBRY) to Underperform; Analyst Says Profit 'Drying Up'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, BB&T Capital Markets, Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
