Earnings Expectations Low for Bank of America and KeyCorp
The Paragon Report Provides Equity Research on Bank of America & KeyCorp
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/12/12 -- Expectations are less than spectacular for U.S. banks this earnings season. Analysts at Barclays Capital are forecasting earnings per share for median banks to fall as much as 3 percent sequentially in the fourth quarter. A recent article from The Wall Street Journal argues that the "culprits for the earnings-estimate whacks are familiar: a phenomenally weak stretch of client trading on everything from bonds to derivatives." The Paragon Report examines investing opportunities in the Money Center Banking Industry and provides equity research on Bank of America Corporation (NYSE: BAC) and KeyCorp (NYSE: KEY). Access to the full company reports can be found at:
According to a recent report from The Wall Street Journal, total bonus compensation at America's largest financial institutions is likely to be the lowest since 2008, "when the financial crisis destroyed some firms and left many survivors on government life support."
"Industry observers expect that when all is said and done for the year, many firms will adjust their benefit costs sharply downward, partly to appease shareholders frustrated by soft profits," the Journal explains.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Money Center Banking industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Bank of America Corporation will release its fourth-quarter 2011 financial results next week. In order to cut costs to offset lower revenues, BofA announced that it will slash up to 30,000 jobs over the next few years. Presently, the consensus estimate among analysts is for the company to report earnings of 21 cents a share, down from 56 cents a share in the third quarter.
KeyCorp will announce fourth quarter 2011 earnings on Tuesday, January 24, 2012. Over the first three quarters of 2011, the company's net income from continuing operations was $656 million, or $.71 per common share.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 12.01.2012 - 07:20 Uhr
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