- UBS's Saul Martinez describes Bank of America's (BAC -1.5%) results as a low-quality beat in a messy quarter with multiple non-core items. Net interest income underperformed (NIM actually fell during quarter). He keeps his Neutral rating and $26 price target.
- Susan Roth Katzke from Credit Suisse (SIX:CSGN) sticks with an Outperform rating, and calls the results net positive, noting materially improved operating efficiency.
- On Goldman Sachs (GS -2.2%), Barclays (LON:BARC)' Jason Goldberg says a lower tax rate, and higher investing and lending revenues made up for the plunge in trading revenues (which failed to hit materially reduced expectations). He remains neutral on the stock.
- A more bullish Glenn Schorr from Evercore ISI says the weak FICC result is "a shame" given how well the rest of the bank's operations went.
- Also lower after beating estimates is Comerica (CMA -2.3%).
- XLF -0.5%, KRE -0.8%, KBE -0.9%
- Source: Felice Maranz at Bloomberg.
- Now read: Bank Of America: Way More Than A Rates Play
Original article