NEW YORK, February 27, 2013 /PRNewswire/ --
Today, Investors Alliance announced new research reports
highlighting U.S. Bancorp (NYSE:USB), KeyCorp (NYSE:KEY), PNC
Financial Services (NYSE:PNC), State Street Corporation (NYSE:STT)
and SunTrust Banks, Inc. (NYSE:STI). Today's readers may access
these reports free of charge - including full price targets,
industry analysis and analyst ratings - via the links below.
U.S. Bancorp Research Report
US Bancorp, the fifth largest commercial bank in the US, posted
earnings per share of 72 cents or
$1.42 billion for Q4 2012, an
increase of 4 percent year over year from 69
cents per share. For the whole year of 2012, earnings came
in at over $5.6 billion or
$2.84 per share, 16 percent higher
year over year. Analysts say the jump in earnings can be attributed
to the growth of its loan portfolio, which was enough to offset any
possible declines in net interest margin. The company had
$223 billion in loans at the end of
last year compared to $210 billion at
the end of 2011. Other factors include a growth in outstanding
commercial loans, stronger credit profiles, and falling credit
costs due to growth in deposits. US Bancorp is set to release its
Q1 2013 earnings on April 16, 2013.
The Full Research Report on U.S. Bancorp - including full detailed
breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.investors-alliance.com/r/full_research_report/cac6_USB]
--
KeyCorp Research Report
Cleveland-based regional bank
KeyCorp will be selling its investment management subsidiary
Victory Capital Management and its broker dealer affiliate Victory
Capital Advisers to a group of private equity firms led by
Crestview Partners for $246 million
in cash and debt. The bank will be using the profit gained from the
sale to buy back some of its common stock. The sale price consists
of $201 million in cash plus a seller
note with an initial face amount of $45
million, with the final value to be determined at the end of
the year. KeyCorp expects to receive an after-tax gain in the range
of $145 to $155 million once the deal
closes. The business has contributed $112
million in revenue and $88
million in expenses of KeyCorp's full year 2012 financial
results. Meanwhile, the bank is set to release its Q1 2013
financial results on April 18, 2013.
The Full Research Report on KeyCorp - including full detailed
breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.investors-alliance.com/r/full_research_report/59e0_KEY]
--
PNC Financial Services Research
Report
PNC Financial has named company president William S. Demchak as director and the new chief
executive, succeeding Chairman and outgoing CEO James E. Rohr, effective April 23, 2013. The new chief of PNC plans to
focus toward organic growth by adding more customers and away from
a focus on acquisitions, after signing relatively big deals in the
past four years, including National City and Royal Bank of
Canada's US assets. Demchak looks
to integrate all the acquisitions Rohr has made for the next couple
of years, taking themselves off the table for consolidation despite
a "big M&A wave" among banks. Earlier this month, the bank has
been evident that it looks to expand to the south, with the opening
of its Charlotte branch with a few more set to open in North and
South Carolina, in an attempt to
hire enough bankers to serve the commercial client base PNC expects
to have years in the future. The Full Research Report on PNC
Financial Services - including full detailed breakdown, analyst
ratings and price targets - is available to download free of charge
at:
[http://www.investors-alliance.com/r/full_research_report/d3f2_PNC]
--
State Street Corporation Research
Report
State Street has been upgraded by Jefferies to a "buy" from
"hold" and raised its price target from $59
to $65, citing a "stronger revenue environment," which
should "fuel positive estimate revisions." The analyst from
Jefferies adds that an unmatched capital return profile and ramping
cost saves could provide downside support if ever the revenue
environment sputters. The financial services firm also raised State
Street's earnings per share estimate from $4.35 to $4.40 for fiscal year 2013. In other
news, State Street announced a quarterly cash dividend of
26 cents per share of common stock,
up 8.3 percent from the previous dividend payout of 24 cents per share, payable on April 12, 2013. The Full Research State Street
Corporation - including full detailed breakdown, analyst ratings
and price targets - is available to download free of charge at:
[http://www.investors-alliance.com/r/full_research_report/8281_STT]
--
SunTrust Banks, Inc. Research
Report
SunTrust has been reiterated by The Street with a "buy" rating
on its stock thanks to solid revenue and earnings growth in its
previous earnings report. Total revenue came in at $2.3 billion for Q4 2012, a 12 percent increase
year over year, while net income came in at $350 million or 65
cents per share, up from 13
cents per share or $74.00
million the same quarter last year. Driven by these factors,
SunTrust's stock has surged by 32.85% over the past year,
outperforming the rise in the S&P 500 Index during the same
period. In addition, the net income growth year over year has
exceeded that of the S&P 500 and the whole Commercial Banks
industry. Meanwhile, the company announced a quarterly cash
dividend of 5 cents per share payable
on March 15, 2013. The Full Research
Report on SunTrust Banks, Inc. - including full detailed breakdown,
analyst ratings and price targets - is available to download free
of charge at:
[http://www.investors-alliance.com/r/full_research_report/16f0_STI]
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SOURCE Investors-Alliance