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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 (1967) | Send Message
     
    Who is KBW and what do they know?
    12 May 2014, 09:40 AM Reply Like
  • TBV
    , contributor
    Comments (144) | 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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