U.S. banks to stay in fashion as earnings kick off
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FBR Capital Reiterates Market Perfrm on Wells Fargo (WFC) Following 4Q Miss
January 17, 2017 7:21 AM ESTFBR Capital reiterated a Market Perform rating and $55.00 price target on Wells Fargo (NYSE: WFC) following the company's 4Q earnings report. WFC reported EPS of $0.96, missing FBR's estimate of $1.01 and the Street estimate of $1.00. The miss was largely driven by non-interest revenue dipping 11.5% quarter over quarter. As a result, the efficiency ratio spiked to 61.2%, up 180 bps from the third quarter.
Analyst Paul... More
FBR Capital Remains Bullish on JPMorgan (JPM) Following 4Q EPS Beat
January 17, 2017 6:59 AM ESTFBR Capital reiterated an Outperform rating and $100.00 price target on JPMorgan (NYSE: JPM) following the company's 4Q earnings report. JPM reported EPS of $1.71, well ahead of the Street estimate of $1.42. The beat was primarily due to lower provision expenses given a reserve release in the consumer banking segment, as well as... More
