Company Reports

SunTrust 1Q15: Chipping Away the Costs

04/22/2015

Reported 1Q15 EPS of $0.78, beating street consensus of $0.72.  Net income growth coming from greater operational efficiency and credit cost savings as loan portfolio continued to improve.


Launch Fifth Third 1Q15: Ho-Hum, Where is the Pizazz?

04/22/2015

Reported 1Q15 EPS of $0.44, but $0.37 on an adjusted basis which was a penny short of street consensus of $0.38. Fifth Third fully disclosed the significant pre-tax items that led to the $0.07 difference including: 1) a positive valuation adjustment on Vantiv warrants ($70 million),...


Launch Morgan Stanley: 1Q15 Beat, 6-Point Spot On!

04/21/2015

Reported 1Q15 EPS of $1.18, but $1.14 excluding DVA. Backing out the non-recurring net discrete tax benefit of  $0.29, adjusted EPS was 0.85 that beat street consensus of $0.77, by eight cents.


Launch Goldman Sachs: 1Q15 Soars, Private Equity Turnover Titan

04/20/2015

Reported 1Q15 EPS of $5.94 versus Street consensus of $4.19 for a gargantuan beat of $1.75.  While we know that macro market factors contributed to this beat and that Goldman Sachs also concurs to an extent...


Citigroup 1Q15: LatAm & Asia, New Credit Checks

04/20/2015

Reported 1Q15 EPS of $1.51, which significantly surpassed the street consensus of $1.39, as net income jumped 21% primarily from lower legal and repositioning costs.  


Launch U.S. Bancorp 1Q15: Quality Lender Waiting For More Growth

04/20/2015

We launch on US Bancorp with a Buy on its debt, but Hold on its stock Risk & Regulatory Stack has low risk.

 

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KeyCorp 1Q15: LeBron Back, Loans Talking Smack

04/20/2015

Reported 1Q15 EPS of $0.26, a penny short of street consensus of $0.27. Despite stronger loan growth in the mid-single digits, KeyCorp disappointed on financial advisory and loan syndication fees which could have led to the slight miss.  Key Keycorp


Launch WFC: 1Q15 Beats; Buy Bonds, Buy Stock, Maintain CRM

04/16/2015

Reported 1Q15 EPS of $1.04 which exceeded street consensus of $0.98 as a result of strong loan growth, higher trust & investment fees, credit and debit card fees, and gains on debt securities sales.  $122 million above-trend debt securities gains added about 1 cent.  Earnings of $5.8 billion compared...


Bank of America: Regional Bank Putt-Putting Along

04/16/2015

Reported 1Q15 EPS of $0.27, but $0.30 on an adjusted basis which hit the Street consensus of $0.30. Earnings of $3.4 billion compared to $3.1 billion in the linked quarter and a $276 million loss in the prior year’s quarter.


JPM: 1Q15 Rebounds, GE/GECC Reflections on JPM

04/15/2015

Reported 1Q15 EPS of $1.45, and roughly $1.45 on an adjusted basis which beat street consensus of $1.39 by six cents. Adjustments related to non-recurring/one-off items included: (1) firm-wide legal expense ($0.13 add-back), a tax benefit ($0.03 reduction). JPM


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