These Banks are Optimistic About 2012
Brokerage firm Sterne, Agee & Leach issued a research note regarding the 2012 outlook for banks. The firm’s analysts commented about a banking conference they attended:
The tone of the conference was unsurprisingly optimistic even as the broader operating environment (anemic growth, subdued interest rates and unprecedented regulatory reform) remains extremely challenging. Most companies reiterated the near-term earnings/fundamental outlook, with fairly little incremental change from third-quarter earnings announcements.
The brokerage firm cited the following banks as being the most optimistic.
- PNC Financial Services Group (NYSE:PNC): The shares recently traded at $53.54, down $0.22, or 0.41%, on the day. The shares have traded in a 52-week range of $42.70 to $65.19 and its market capitalization is $28.12 billion. About the company: PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company’s primary regional markets.
- BB&T (NYSE:BBT): The shares recently traded at $23.62, up $0.02, or 0.08%, on the day. The shares have traded in a 52-week range of $18.92 to $29.60 and its market capitalization is $16.47 billion. About the company: BB&T Corporation operates banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.
- US Bancorp (NYSE:USB): The shares recently traded at $25.74, down $0.15, or 0.58%, on the day. The shares have traded in a 52-week range of $20.10 to $28.94 and its market capitalization is $49.24 billion. About the company: U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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