UBS on Trust Banks and Processors: Q2 Earnings Preview - STT Remains 'Top Pick' & Only 'Buy'
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Price: $30.43 -0.03%
Rating Summary:
2 Buy, 11 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Rating Summary:
2 Buy, 11 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Trade BK Now!
UBS on Trust Banks and Processors: Q2 Earnings Preview
Analyst, Greg Ketron, said, "We are generally inline across the group with Bank of NY Mellon (NYSE: BK) equal to consensus and Northern Trust (Nasdaq: NTRS) and State Street (NYSE: STT)(Buy-rated) $0.01 below. STT remains our top-pick and only Buy in the group. Though we are inline with consensus for 2Q12, we believe STT’s advantages in the challenging environment, with excess capital available for deployment being a key, will be highlighted...Lower expenses, capital deployment, and seasonality should drive EPS higher."
"While we don’t expect a return to historic averages, we believe over time lower global economic concerns will lead to multiple expansion. We are lowering forward estimates slightly due to lower rates."
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Analyst, Greg Ketron, said, "We are generally inline across the group with Bank of NY Mellon (NYSE: BK) equal to consensus and Northern Trust (Nasdaq: NTRS) and State Street (NYSE: STT)(Buy-rated) $0.01 below. STT remains our top-pick and only Buy in the group. Though we are inline with consensus for 2Q12, we believe STT’s advantages in the challenging environment, with excess capital available for deployment being a key, will be highlighted...Lower expenses, capital deployment, and seasonality should drive EPS higher."
"While we don’t expect a return to historic averages, we believe over time lower global economic concerns will lead to multiple expansion. We are lowering forward estimates slightly due to lower rates."
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