4 Financial Stock Stories Vying for Tuesday Traction
Morgan Stanley (NYSE:MS): Current price $26.54
Morgan Stanley, Bank of America Corp., and Wells Fargo & Co. are set to lead the six biggest domestic lenders by posting a leap in earnings that could take some investors by surprise who are fixated on a slump in trading and mortgage lending. According to analysts’ forecasts compiled by Bloomberg, the three banks will likely post combined third-quarter profit of $8.64 billion, or 14 percent over that of 2012. Additionally, the estimates indicate that JPMorgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc. will report a fall of 7.8 percent.
Deutsche Bank AG (NYSE:DB): Current price $45.82
Deutsche Bank coverage has begun by Zacks Equity Research at Outperform, based upon its superior position in the market augmented by its positive approach to market conditions and cost-curtailment endeavors. Besides that, Zacks said that a healthy capital position exhibits the firm’s “robust standing.” The research company also observed in part that, ”Deutsche Bank’s organic growth through its strong top line expansion, internal capital adequacy and prudent expense management prompted us to initiate with this stance.”
Regions Financial Corp. (NYSE:RF): Current price $9.22
Birmingham-based Regions Financial has appointed Jeff Rabren to manage its economic development initiatives. Rabren’s initial concentration will be on programs, which encourage capital investment and job creation in Alabama. Rabren came to Regions in 2010 to oversee state government matters, and through his expanded role as senior vice president for State Government Affairs and Economic Development, he will coordinate the firm’s economic development initiatives as the liaison to public, private, and non-profit economic development agencies.
Prudential Financial, Inc. (NYSE:PRU): Current price $76.19
Prudential Retirement, a subsidiary of Prudential Financial, reports that it has added 12 new institutional sub-advised funds, which include a new non-traditional asset class, real estate, to its Manager-of-Managers platform. Senior Vice President, Prudential Retirement’s Institutional Investment Solutions, Joan Bozek commented that, “We remain focused on continuously enhancing our Manager-of-Managers investment platform which provides those clients seeking fiduciary support with skilled investment managers, rigorous oversight, and daily guideline monitoring.”