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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