BofA and JPMorgan estimates ratcheted lower at KBW

Following JPMorgan's (JPM) warning on the continued slowdown in trading activity this quarter, KBW cuts its Q2 EPS estimate for the Bank of Dimon to $1.38 from $1.45 and its full year operating EPS estimate to $5.51 from $5.65.

At Bank of America (BAC), it's the trading slowdown, the suspension of the buyback, and worry over litigation costs. The Q2 EPS estimate is cut to $0.30 from $0.33, and full year is lowered by a dime to $0.90. The team at KBW sees this year's buyback being halved to $2B after the Fed is finished with its review, but is more worried about how future legal costs will affect profitability.

Previously: Cyclical or secular? JPMorgan warns again on trading business

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Comments (3)
  • Ruffdog
    , contributor
    Comments (3671) | Send Message
    Who is KBW and what do they know?
    12 May 2014, 09:40 AM Reply Like
  • TBV
    , contributor
    Comments (184) | Send Message
    -Portales Partners upgrades BAC
    -Bank of America's buy rating reiterated at Jefferies Group. $18.00 PT


    Only KBW news today? ... hmmm
    12 May 2014, 01:40 PM Reply Like
  • skipmac
    , contributor
    Comments (55) | Send Message
    Ruff dog. KBW is Keefe Bruyette &Woods. They follow bank stocks.
    12 May 2014, 07:24 PM Reply Like
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