UBS on Large Cap Banks: Q1 Earnings Preview: Above Consensus on 5 of 6 Stocks for Q1 Earnings
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Rating Summary:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS on Large Cap Banks: Q1 Earnings Preview: Above consensus on 5 of 6 stocks for 1Q12 earnings
Analyst, Greg Ketron, said, "We see the greatest EPS upside at Wells Fargo (NYSE: WFC) and SunTrust (NYSE: STI) this quarter and also forecast PNC (NYSE: PNC), BB&T (NYSE: BBT), and U.S. Bancorp (NYSE: USB) will come in higher than consensus. We are in-line with consensus on Regions Financial (NYSE: RF)."
2 other points include: 1) Expect modest loan growth with C&I and mortgage as positive highlights; and 2) Mortgage outlook improves since December.
Ketron concluded, "Due to the results from the stress test in mid-March, the risk-profile visibility has improved for the sector. We believe the increased visibility and generally positive earnings outlook support higher valuations for the group. We continue to rate USB as our top-pick and also have Buy ratings on BBT and STI."
Analyst, Greg Ketron, said, "We see the greatest EPS upside at Wells Fargo (NYSE: WFC) and SunTrust (NYSE: STI) this quarter and also forecast PNC (NYSE: PNC), BB&T (NYSE: BBT), and U.S. Bancorp (NYSE: USB) will come in higher than consensus. We are in-line with consensus on Regions Financial (NYSE: RF)."
2 other points include: 1) Expect modest loan growth with C&I and mortgage as positive highlights; and 2) Mortgage outlook improves since December.
Ketron concluded, "Due to the results from the stress test in mid-March, the risk-profile visibility has improved for the sector. We believe the increased visibility and generally positive earnings outlook support higher valuations for the group. We continue to rate USB as our top-pick and also have Buy ratings on BBT and STI."
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