- via Bloomberg
- Among the winners cited by analysts were Citigroup (NYSE:C), Bank of America (NYSE:BAC), Zions (NASDAQ:ZION), and Wells Fargo (NYSE:WFC). Cutting things maybe a little too close for comfort were State Street (NYSE:STT), Discover (NYSE:DFS), AmEx (NYSE:AXP), and Morgan Stanley (NYSE:MS).
- On the regulatory front, the results should add momentum to the president's efforts to ease rules as they can now point to even the Fed as believing the banks are in great shape.
- Morgan Stanley's Betsy Graseck says results are far better than hoped, with excess capital up 17% from last year to $357B. She sees no risk to her estimate of 30% Y/Y increase in capital returns to be announced next week. Her list of names that could top expectations in the CCAR: Northern Trust (NASDAQ:NTRS), Wells Fargo, Citigroup, BofA, and JPMorgan (NYSE:JPM). AmEx and State Street are most at risk. In midcaps, Huntington Bancshares (NASDAQ:HBAN) stands out as well-positioned to top expectations.
- Piper's Kevin Barker would add Zions, and Regions Financial (NYSE:RF) to the list of midcap players standing out on the upside. 2017, he says, is "the year of the regionals."
- XLF +0.45% premarket
- ETFs: XLF, FAS, FAZ, KRE, VFH, UYG, KBE, IYF, FNCL, BTO, IAT, IYG, KBWB, QABA, FXO, SEF, KBWR, RYF, FINU, XLFS, DPST, KRU, FINZ, RWW, WDRW, KRS, FAZZ, JHMF, FTXO, FNCF
- Now read: Citigroup Is Destined To Double
Original article