UBS on Mid-Cap Banks: Q1 Earnings Preview

UBS on Mid-Cap Banks: Q1 Earnings Preview

Analyst, Stephen Scinicariello, said, "With mid-cap regional bank stocks up 41% over the past 6 months, the question that needs to be addressed is whether fundamentals will be good enough to sustain the upward trajectory (despite expected profit taking); we believe that they will. We are above consensus for 42% of our coverage by an average of 8%. We are the most above 1Q12E EPS for Wintrust Financial (Nasdaq: WTFC) and Umpqua (Nasdaq: UMPQ) and the most below for Huntinton Bancorp (Nasdaq: HBAN)."

Scinicariello also noted that Fifth Third (Nasdaq: FITB) and Comerica (NYSE: CMA) relative value appears attractive. KeyCorp (NYSE: KEY) remains the Top Pick.

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