Combined profit at the six largest U.S. banks jumped last year to the highest level since 2006, even as the firms allocated more than $18 billion to deal with claims they broke laws or cheated investors.
BankUnited Inc., Comerica Inc., TCF Financial Corp., First Republic Bank and Texas Capital Bancshares Inc. are the most likely regional lenders to put themselves up for sale based partially on how much their chief executive officers stand to make from a deal, a report found.
JPMorgan Chase & Co. , the most profitable U.S. bank, is taking trading revenue from Goldman Sachs Group Inc. and Bank of America Corp. as investments including its $1.7 billion purchase of RBS Sempra’s commodities business begin paying off, Deutsche Bank AG analysts said.
It’s been a rough three years for banks, securities firms and insurers -- even rougher for the analysts whose job it is to predict how the stocks of these firms will perform, Bloomberg Markets reports in its November issue.
Profit estimates for Bank of America Corp. and other large U.S. lenders may need to be slashed as much as 30 percent if economic growth slows to 1 percent or less, according to analysts at Deutsche Bank AG.
The Federal Reserve’s policy of keeping interest rates persistently low, which has helped boost bank earnings over the last six quarters, is beginning to make it harder for the biggest U.S. lenders to make money.
Wall Street banks, buoyed by record stock-market prices and high-yield bond issuance, probably will report a jump in second-quarter trading and investment-banking revenue from the same period a year ago.
JPMorgan Chase & Co. was cut to hold by Deutsche Bank AG analysts who said regulators may not let the company resume its stock-repurchase program this year after a trading loss of at least $5.8 billion.