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Published April 9, 2009 at 12:32 PM
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 The nation's biggest banks will be reporting first-quarter results in the next two weeks. Here's a round up on the estimates of each bank: - Wells Fargo & Co. (NYSE:WFC ) said it expects to report earnings of $3
billion, or 55 cents a share, on revenue of about $20 billion. The company will report its financial results on April
22.
- Morgan Stanley's (NYSE:MS) first-quarter results are expected to break even during the first quarter. Analysts predict the New
York-based bank will earn $1.64 per share in 2009 and $3.02 in 2010. The Wall Street Journal reported that assets may be hurt by $1.2 billion to $1.7
billion on accounting for recent gains in bonds valued at about
$29 billion. William Blair & Co.'s Mark Lane said the bank will need to take an additional $250 million in charges tied to
commercial real estate exposure. He cut first-quarter projections down to a
profit of 1 cent per share. Morgan Stanley plans to report first-quarter earnings the week of April 20.
- Citigroup Inc. (NYSE:C) will lose about 32 cents a share in the first quarter, analysts predict, according to Thomson Reuters. Meredith Whitney predicted the bank will lose $5.00 per share this year and $3.50 per share in 2010. The bank will report first-quarter earnings April 17.
- J.P. Morgan Chase & Co. (NYSE:JPM) is expecting a solid profit in this year's first quarter. The bank is likely to earn 16 cents a share, down from 29 cents, according to Oppenheimer. One Web site called Earnings Preview is "forecasting
revenues of $22.76 billion and EPS of $.35. This would represent a 35%
increase in revenues from last year's $16.89 billion in the same
period." Meanwhile, Meredith Whitney believes J.P.Morgan will earn $1.15 per share this year and $1.05 in 2010. The bank will report first-quarter results April 16.
- Goldman Sachs Group Inc.'s (NYSE:GS) first-quarter earnings are expected to be profitable, up $1.51 a share, according to Thomson Reuters. Oppenheimer analysts predict the bank's profit to climb from $1.29 from 99 cents. However the bank may take smaller markdowns in its principal investment
group and in its commercial and
leveraged loans portfolio, according to The Wall Street Journal. The bank will report first-quarter results April 14.
- Maria Woehr
Troubled Wall Street
Prices at approximately 12:00 pm ET |
| Name |
Price at
open |
Price
at 4:00 pm |
Change |
Market cap |
| J.P. Morgan Chase & Co. |
30.44 |
30.63 |
3.2 |
115097.26 |
| Goldman Sachs Group Inc. |
119.79 |
118.46 |
3.71 |
54746.04 |
| Morgan Stanley |
24.1 |
24.39 |
1.7 |
26389.45 |
| Citigroup Inc. |
3.02 |
2.92 |
0.22 |
16097.32 |
| Fannie Mae |
0.738 |
0.72 |
0.04 |
785.69 |
| Freddie Mac |
0.76 |
0.75 |
0.05 |
485.52 |
| Bank of America Corp. |
8.15 |
8.49 |
1.43 |
54377.55 |
| Wells Fargo & Co. |
19.84 |
17.94 |
3.05 |
76025.73 |
| American International Group Inc. |
1.16 |
1.13 |
0.05 |
3040.54 |
| Fifth Third Bancorp |
3.05 |
3.18 |
0.54 |
1838.48 |
| Capital One Financial Corp. |
15.2 |
16.03 |
2.22 |
6283.9 |
| SunTrust Banks Inc. |
12.51 |
12.86 |
2.03 |
4603.42 |
| U.S. Bancorp |
16.9 |
15.79 |
1.43 |
27713.71 |
| Regions Financial Corp. |
4.4 |
4.03 |
0.2 |
2799.37 |
| KeyCorp |
7.5 |
7.34 |
0.77 |
3650.16 |
| PNC Financial Services |
34.86 |
35.9 |
3.92 |
15960.29 |
| BB&T Corp. |
17.79 |
18.36 |
1.66 |
10289.12 |
| Bank of New York Mellon Corp. |
29.16 |
28.76 |
1.09 |
33056.77 |
| State Street Corp. |
33.05 |
33.02 |
1.93 |
14263.51 |
Source: The Deal |
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