Seeking Alpha

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
From other sites
Comments (3)
  • Ruffdog
    , contributor
    Comments (2258) | Send Message
    Who is KBW and what do they know?
    12 May 2014, 09:40 AM Reply Like
  • TBV
    , contributor
    Comments (152) | 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
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs