{"id":33272,"date":"2023-07-09T06:26:20","date_gmt":"2023-07-09T10:26:20","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/these-20-banks-have-had-the-largest-cuts-to-earnings-estimates\/"},"modified":"2023-07-09T06:26:21","modified_gmt":"2023-07-09T10:26:21","slug":"these-20-banks-have-had-the-largest-cuts-to-earnings-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=33272","title":{"rendered":"These 20 banks have had the largest cuts to earnings estimates"},"content":{"rendered":"
\n

Earnings season for the largest U.S. banks will begin on Friday, July 14, when JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. announce their second-quarter results. Rounding out the \u201cbig six\u201d industry group, Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley are all scheduled to report on July 18.<\/p>\n

That means analysts have been revising their earnings estimates \u2014 lowering them \u2014 to incorporate rising costs for deposits, as well as new information about banks\u2019 plans to repurchase shares (or not) after the results of annual regulatory stress tests were announced last week. <\/p>\n

\n

Below is a list of banks whose consensus earnings estimates have been cut the most by analysts this year, followed by another list of the banks that analysts rate most highly.<\/p>\n

To give you an idea of what a difficult environment the industry faces, the following chart shows the changes to earnings estimates for the six largest U.S. banks, by total assets, among analysts at Keefe, Bruyette and Woods, led by David Konrad. KBW\u2019s revised estimates and price targets were published on Wednesday.<\/p>\n

Here are KBW\u2019s earnings-per-share estimates for the six banks by total assets for 2023 and 2024:<\/p>\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Ticker<\/strong><\/p>\n<\/td>\n\n KBW revised 2023 EPS estimate<\/strong><\/p>\n<\/td>\n\n Previous KBW 2023 EPS estimate<\/strong><\/p>\n<\/td>\n\n KBW revised 2024 EPS estimate<\/strong><\/p>\n<\/td>\n\n Previous KBW 2024 estimate<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n JPMorgan Chase & Co.<\/p>\n<\/td>\n\n JPM,
\n +0.79%<\/bg-quote>\n <\/td>\n		\n $15.35<\/p>\n<\/td>\n\n $15.42<\/p>\n<\/td>\n\n $13.95<\/p>\n<\/td>\n\n $13.95<\/p>\n<\/td>\n<\/tr>\n
\n Bank of America Corp.<\/p>\n<\/td>\n\n BAC,
\n +0.88%<\/bg-quote>\n <\/td>\n		\n $3.20<\/p>\n<\/td>\n\n $3.34<\/p>\n<\/td>\n\n $2.90<\/p>\n<\/td>\n\n $2.95<\/p>\n<\/td>\n<\/tr>\n
\n Citigroup Inc.<\/p>\n<\/td>\n\n C,
\n +0.79%<\/bg-quote>\n <\/td>\n		\n $5.35<\/p>\n<\/td>\n\n $6.00<\/p>\n<\/td>\n\n $5.90<\/p>\n<\/td>\n\n $6.40<\/p>\n<\/td>\n<\/tr>\n
\n Wells Fargo & Co.<\/p>\n<\/td>\n\n WFC,
\n -0.28%<\/bg-quote>\n <\/td>\n		\n $4.66<\/p>\n<\/td>\n\n $4.72<\/p>\n<\/td>\n\n $4.50<\/p>\n<\/td>\n\n $4.50<\/p>\n<\/td>\n<\/tr>\n
\n Goldman Sachs Group Inc.<\/p>\n<\/td>\n\n GS,
\n +0.69%<\/bg-quote>\n <\/td>\n		\n $25.58<\/p>\n<\/td>\n\n $33.23<\/p>\n<\/td>\n\n $40.00<\/p>\n<\/td>\n\n $42.25<\/p>\n<\/td>\n<\/tr>\n
\n Morgan Stanley<\/p>\n<\/td>\n\n MS,
\n +0.04%<\/bg-quote>\n <\/td>\n		\n $5.67<\/p>\n<\/td>\n\n $6.62<\/p>\n<\/td>\n\n $7.75<\/p>\n<\/td>\n\n $8.25<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Downward revisions for banks\u2019 earnings estimates may not come as a surprise. The industry\u2019s margins are being squeezed as savers move money to earn better interest rates on deposits. But the 2024 EPS estimates are lower than the 2023 estimates for three of the banks, which can add downward pressure for the stocks.<\/p>\n

Here are KBW\u2019s revised price targets for the group and this year\u2019s total returns (with dividends reinvested) for the stocks:<\/p>\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Ticker<\/strong><\/p>\n<\/td>\n\n KBW revised price target<\/strong><\/p>\n<\/td>\n\n Previous KBW price target<\/strong><\/p>\n<\/td>\n\n July 5 price<\/strong><\/p>\n<\/td>\n\n KBW rating<\/strong><\/p>\n<\/td>\n\n 2023 total return through July 5<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n JPMorgan Chase & Co.<\/p>\n<\/td>\n\n JPM,
\n +0.79%<\/bg-quote>\n <\/td>\n		\n $155.00<\/p>\n<\/td>\n\n $155.00<\/p>\n<\/td>\n\n $144.64<\/p>\n<\/td>\n\n Market perform<\/p>\n<\/td>\n\n 10%<\/p>\n<\/td>\n<\/tr>\n
\n Bank of America Corp.<\/p>\n<\/td>\n\n BAC,
\n +0.88%<\/bg-quote>\n <\/td>\n		\n $28.00<\/p>\n<\/td>\n\n $29.00<\/p>\n<\/td>\n\n $29.08<\/p>\n<\/td>\n\n Underperform<\/p>\n<\/td>\n\n -11%<\/p>\n<\/td>\n<\/tr>\n
\n Citigroup Inc.<\/p>\n<\/td>\n\n C,
\n +0.79%<\/bg-quote>\n <\/td>\n		\n $47.00<\/p>\n<\/td>\n\n $48.00<\/p>\n<\/td>\n\n $46.80<\/p>\n<\/td>\n\n Market perform<\/p>\n<\/td>\n\n 6%<\/p>\n<\/td>\n<\/tr>\n
\n Wells Fargo & Co.<\/p>\n<\/td>\n\n WFC,
\n -0.28%<\/bg-quote>\n <\/td>\n		\n $46.00<\/p>\n<\/td>\n\n $46.00<\/p>\n<\/td>\n\n $43.48<\/p>\n<\/td>\n\n Outperform<\/p>\n<\/td>\n\n 7%<\/p>\n<\/td>\n<\/tr>\n
\n Goldman Sachs Group Inc.<\/p>\n<\/td>\n\n GS,
\n +0.69%<\/bg-quote>\n <\/td>\n		\n $380.00<\/p>\n<\/td>\n\n $400.00<\/p>\n<\/td>\n\n $320.05<\/p>\n<\/td>\n\n Outperform<\/p>\n<\/td>\n\n -5%<\/p>\n<\/td>\n<\/tr>\n
\n Morgan Stanley<\/p>\n<\/td>\n\n MS,
\n +0.04%<\/bg-quote>\n <\/td>\n		\n $100.00<\/p>\n<\/td>\n\n $105.00<\/p>\n<\/td>\n\n $85.92<\/p>\n<\/td>\n\n Outperform<\/p>\n<\/td>\n\n 3%<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Click on the ticker symbols for more about each company or index.<\/p>\n

Click\u00a0here\u00a0for Tomi Kilgore\u2019s detailed guide to the wealth of information available for free on the MarketWatch quote page.<\/p>\n

These banks have had the largest cuts to consensus earnings estimates this year<\/h2>\n

For a broader look at the industry, we looked at the largest 50 banks by total assets in the Russell 3000 Index
\n RUA,
\n -0.10%<\/bg-quote>,<\/span>
\n which is designed to represent about 98% of companies listed publicly in the U.S., by market capitalization.<\/p>\n

To define whether or not a company would be considered a bank, we included companies that file regulatory call reports as banks or bank holding companies or savings and loan holding companies (such as Charles Schwab Corp.
\n SCHW,
\n +1.48%<\/bg-quote>
\n ).<\/p>\n

Here are the 20 banks for which consensus 2023 earnings estimates among analysts polled by FactSet have declined the most since the end of last year:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Ticker<\/strong><\/p>\n<\/td>\n\n City<\/strong><\/p>\n<\/td>\n\n Cons. 2023 EPS estimate<\/strong><\/p>\n<\/td>\n\n Change in 2023 EPS estimate since Dec. 31<\/strong><\/p>\n<\/td>\n\n Cons. 2024 EPS estimate<\/strong><\/p>\n<\/td>\n\n Change in 2024 EPS estimate since Dec. 31<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n PacWest Bancorp<\/p>\n<\/td>\n\n PACW,
\n +0.88%<\/bg-quote>\n <\/td>\n		\n Beverly Hills, Calif.<\/p>\n<\/td>\n\n -$9.67<\/p>\n<\/td>\n\n N\/A<\/p>\n<\/td>\n\n $1.17<\/p>\n<\/td>\n\n -69.5%<\/p>\n<\/td>\n<\/tr>\n
\n KeyCorp<\/p>\n<\/td>\n\n KEY,
\n +1.70%<\/bg-quote>\n <\/td>\n		\n Cleveland, Ohio<\/p>\n<\/td>\n\n $1.39<\/p>\n<\/td>\n\n -40.1%<\/p>\n<\/td>\n\n $1.56<\/p>\n<\/td>\n\n -37.2%<\/p>\n<\/td>\n<\/tr>\n
\n Charles Schwab Corp.<\/p>\n<\/td>\n\n SCHW,
\n +1.48%<\/bg-quote>\n <\/td>\n		\n Westlake, Texas<\/p>\n<\/td>\n\n $3.19<\/p>\n<\/td>\n\n -34.7%<\/p>\n<\/td>\n\n $4.04<\/p>\n<\/td>\n\n -28.8%<\/p>\n<\/td>\n<\/tr>\n
\n Western Alliance Bancorp.<\/p>\n<\/td>\n\n WAL,
\n +3.44%<\/bg-quote>\n <\/td>\n		\n Phoenix, Ariz.<\/p>\n<\/td>\n\n $7.45<\/p>\n<\/td>\n\n -31.8%<\/p>\n<\/td>\n\n $8.39<\/p>\n<\/td>\n\n -29.7%<\/p>\n<\/td>\n<\/tr>\n
\n Zions Bancorp N.A.<\/p>\n<\/td>\n\n ZION,
\n +4.32%<\/bg-quote>\n <\/td>\n		\n Salt Lake City, Utah<\/p>\n<\/td>\n\n $4.66<\/p>\n<\/td>\n\n -31.0%<\/p>\n<\/td>\n\n $4.46<\/p>\n<\/td>\n\n -34.2%<\/p>\n<\/td>\n<\/tr>\n
\n Capital One Financial Corp.<\/p>\n<\/td>\n\n COF,
\n +0.73%<\/bg-quote>\n <\/td>\n		\n McLean, Va.<\/p>\n<\/td>\n\n $11.95<\/p>\n<\/td>\n\n -26.0%<\/p>\n<\/td>\n\n $14.12<\/p>\n<\/td>\n\n -18.1%<\/p>\n<\/td>\n<\/tr>\n
\n Popular Inc.<\/p>\n<\/td>\n\n BPOP,
\n +2.06%<\/bg-quote>\n <\/td>\n		\n San Juan, Puerto Rico<\/p>\n<\/td>\n\n $7.53<\/p>\n<\/td>\n\n -24.1%<\/p>\n<\/td>\n\n $8.32<\/p>\n<\/td>\n\n -23.5%<\/p>\n<\/td>\n<\/tr>\n
\n Comerica Inc.<\/p>\n<\/td>\n\n CMA,
\n +3.41%<\/bg-quote>\n <\/td>\n		\n Dallas, Texas<\/p>\n<\/td>\n\n $7.75<\/p>\n<\/td>\n\n -23.5%<\/p>\n<\/td>\n\n $7.04<\/p>\n<\/td>\n\n -30.4%<\/p>\n<\/td>\n<\/tr>\n
\n Goldman Sachs Group Inc.<\/p>\n<\/td>\n\n GS,
\n +0.69%<\/bg-quote>\n <\/td>\n		\n New York, N.Y.<\/p>\n<\/td>\n\n $28.97<\/p>\n<\/td>\n\n -22.6%<\/p>\n<\/td>\n\n $36.82<\/p>\n<\/td>\n\n -12.5%<\/p>\n<\/td>\n<\/tr>\n
\n Cadence Bank<\/p>\n<\/td>\n\n CADE,
\n +2.46%<\/bg-quote>\n <\/td>\n		\n Tupelo, Miss.<\/p>\n<\/td>\n\n $2.48<\/p>\n<\/td>\n\n -22.5%<\/p>\n<\/td>\n\n $2.67<\/p>\n<\/td>\n\n -17.7%<\/p>\n<\/td>\n<\/tr>\n
\n Truist Financial Corp.<\/p>\n<\/td>\n\n TFC,
\n +3.44%<\/bg-quote>\n <\/td>\n		\n Charlotte, N.C.<\/p>\n<\/td>\n\n $4.07<\/p>\n<\/td>\n\n -22.0%<\/p>\n<\/td>\n\n $4.05<\/p>\n<\/td>\n\n -25.9%<\/p>\n<\/td>\n<\/tr>\n
\n Valley National Bancorp.<\/p>\n<\/td>\n\n VLY,
\n +1.05%<\/bg-quote>\n <\/td>\n		\n New York, N.Y.<\/p>\n<\/td>\n\n $1.17<\/p>\n<\/td>\n\n -21.6%<\/p>\n<\/td>\n\n $1.22<\/p>\n<\/td>\n\n -21.1%<\/p>\n<\/td>\n<\/tr>\n
\n Citizens Financial Group Inc.<\/p>\n<\/td>\n\n CFG,
\n +3.30%<\/bg-quote>\n <\/td>\n		\n Providence, R.I.<\/p>\n<\/td>\n\n $4.15<\/p>\n<\/td>\n\n -19.4%<\/p>\n<\/td>\n\n $4.16<\/p>\n<\/td>\n\n -22.6%<\/p>\n<\/td>\n<\/tr>\n
\n Ally Financial Inc.<\/p>\n<\/td>\n\n ALLY,
\n +1.29%<\/bg-quote>\n <\/td>\n		\n Detroit, Mich.<\/p>\n<\/td>\n\n $3.46<\/p>\n<\/td>\n\n -18.4%<\/p>\n<\/td>\n\n $4.88<\/p>\n<\/td>\n\n -4.4%<\/p>\n<\/td>\n<\/tr>\n
\n Fifth Third Bancorp<\/p>\n<\/td>\n\n FITB,
\n +1.25%<\/bg-quote>\n <\/td>\n		\n Cincinnati, Ohio<\/p>\n<\/td>\n\n $3.26<\/p>\n<\/td>\n\n -18.1%<\/p>\n<\/td>\n\n $3.22<\/p>\n<\/td>\n\n -23.4%<\/p>\n<\/td>\n<\/tr>\n
\n Pinnacle Financial Partners Inc.<\/p>\n<\/td>\n\n PNFP,
\n +2.68%<\/bg-quote>\n <\/td>\n		\n Nashville, Tenn.<\/p>\n<\/td>\n\n $6.59<\/p>\n<\/td>\n\n -17.2%<\/p>\n<\/td>\n\n $6.75<\/p>\n<\/td>\n\n -19.9%<\/p>\n<\/td>\n<\/tr>\n
\n First Horizon Corp.<\/p>\n<\/td>\n\n FHN,
\n +1.37%<\/bg-quote>\n <\/td>\n		\n Memphis, Tenn.<\/p>\n<\/td>\n\n $1.66<\/p>\n<\/td>\n\n -16.3%<\/p>\n<\/td>\n\n $1.40<\/p>\n<\/td>\n\n -29.5%<\/p>\n<\/td>\n<\/tr>\n
\n Morgan Stanley<\/p>\n<\/td>\n\n MS,
\n +0.04%<\/bg-quote>\n <\/td>\n		\n New York, N.Y.<\/p>\n<\/td>\n\n $6.17<\/p>\n<\/td>\n\n -16.1%<\/p>\n<\/td>\n\n $7.48<\/p>\n<\/td>\n\n -10.3%<\/p>\n<\/td>\n<\/tr>\n
\n U.S. Bancorp<\/p>\n<\/td>\n\n USB,
\n +1.67%<\/bg-quote>\n <\/td>\n		\n Minneapolis, Minn.<\/p>\n<\/td>\n\n $4.29<\/p>\n<\/td>\n\n -15.8%<\/p>\n<\/td>\n\n $4.60<\/p>\n<\/td>\n\n -16.3%<\/p>\n<\/td>\n<\/tr>\n
\n PNC Financial Services Group Inc.<\/p>\n<\/td>\n\n PNC,
\n +1.40%<\/bg-quote>\n <\/td>\n		\n Pittsburgh, Pa.<\/p>\n<\/td>\n\n $13.65<\/p>\n<\/td>\n\n -15.4%<\/p>\n<\/td>\n\n $13.35<\/p>\n<\/td>\n\n -20.9%<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

PacWest Bancorp
\n PACW,
\n +0.88%<\/bg-quote>
\n leads the list as the only bank among the largest 50 expected to show a net loss for 2023. The bank has been working to improve its liquidity through asset sales, most recently announcing a deal to sell a loan portfolio to Ares Management Corp.
\n ARES,
\n +1.17%<\/bg-quote>.<\/span>\n <\/p>\n

Thinking positively: Here are analysts\u2019 favorites among the largest 50 banks<\/h2>\n

Going back to our list of the top 50 U.S. banks by total assets, 10 of them are rated buy or the equivalent by at least 75% of analysts polled by FactSet. Here they are, sorted by the 12-month upside potential for the stocks, based on consensus price targets:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Ticker<\/strong><\/p>\n<\/td>\n\n City<\/strong><\/p>\n<\/td>\n\n Share buy ratings<\/strong><\/p>\n<\/td>\n\n Cons. price target<\/strong><\/p>\n<\/td>\n\n July 5 price<\/strong><\/p>\n<\/td>\n\n Implied 12-month upside potential<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n Western Alliance Bancorp<\/p>\n<\/td>\n\n WAL,
\n +3.44%<\/bg-quote>\n <\/td>\n		\n Phoenix, Ariz.<\/p>\n<\/td>\n\n 88%<\/p>\n<\/td>\n\n $55.15<\/p>\n<\/td>\n\n $37.18<\/p>\n<\/td>\n\n 48%<\/p>\n<\/td>\n<\/tr>\n
\n Webster Financial Corp.<\/p>\n<\/td>\n\n WBS,
\n +3.08%<\/bg-quote>\n <\/td>\n		\n Stamford, Conn.<\/p>\n<\/td>\n\n 77%<\/p>\n<\/td>\n\n $49.17<\/p>\n<\/td>\n\n $37.96<\/p>\n<\/td>\n\n 30%<\/p>\n<\/td>\n<\/tr>\n
\n SouthState Corp.<\/p>\n<\/td>\n\n SSB,
\n +2.61%<\/bg-quote>\n <\/td>\n		\n Winter Haven, Fla.<\/p>\n<\/td>\n\n 75%<\/p>\n<\/td>\n\n $82.44<\/p>\n<\/td>\n\n $66.50<\/p>\n<\/td>\n\n 24%<\/p>\n<\/td>\n<\/tr>\n
\n F.N.B. Corp.<\/p>\n<\/td>\n\n FNB,
\n +3.08%<\/bg-quote>\n <\/td>\n		\n Pittsburgh, Pa.<\/p>\n<\/td>\n\n 75%<\/p>\n<\/td>\n\n $14.25<\/p>\n<\/td>\n\n $11.53<\/p>\n<\/td>\n\n 24%<\/p>\n<\/td>\n<\/tr>\n
\n First Citizens BancShares Inc. Class A<\/p>\n<\/td>\n\n FCNCA,
\n +1.65%<\/bg-quote>\n <\/td>\n		\n Raleigh, N.C.<\/p>\n<\/td>\n\n 86%<\/p>\n<\/td>\n\n $1,563.57<\/p>\n<\/td>\n\n $1,277.05<\/p>\n<\/td>\n\n 22%<\/p>\n<\/td>\n<\/tr>\n
\n Synovus Financial Corp.<\/p>\n<\/td>\n\n SNV,
\n +2.66%<\/bg-quote>\n <\/td>\n		\n Columbus, Ga.<\/p>\n<\/td>\n\n 75%<\/p>\n<\/td>\n\n $36.93<\/p>\n<\/td>\n\n $30.49<\/p>\n<\/td>\n\n 21%<\/p>\n<\/td>\n<\/tr>\n
\n Wintrust Financial Corp.<\/p>\n<\/td>\n\n WTFC,
\n +3.64%<\/bg-quote>\n <\/td>\n		\n Rosemont, Ill.<\/p>\n<\/td>\n\n 92%<\/p>\n<\/td>\n\n $87.42<\/p>\n<\/td>\n\n $72.46<\/p>\n<\/td>\n\n 21%<\/p>\n<\/td>\n<\/tr>\n
\n Pinnacle Financial Partners Inc.<\/p>\n<\/td>\n\n PNFP,
\n +2.68%<\/bg-quote>\n <\/td>\n		\n Nashville, Tenn.<\/p>\n<\/td>\n\n 80%<\/p>\n<\/td>\n\n $68.22<\/p>\n<\/td>\n\n $56.71<\/p>\n<\/td>\n\n 20%<\/p>\n<\/td>\n<\/tr>\n
\n Popular Inc.<\/p>\n<\/td>\n\n BPOP,
\n +2.06%<\/bg-quote>\n <\/td>\n		\n San Juan, Puerto Rico<\/p>\n<\/td>\n\n 83%<\/p>\n<\/td>\n\n $72.83<\/p>\n<\/td>\n\n $61.27<\/p>\n<\/td>\n\n 19%<\/p>\n<\/td>\n<\/tr>\n
\n Wells Fargo & Co.<\/p>\n<\/td>\n\n WFC,
\n -0.28%<\/bg-quote>\n <\/td>\n		\n San Francisco, Calif.<\/p>\n<\/td>\n\n 77%<\/p>\n<\/td>\n\n $48.65<\/p>\n<\/td>\n\n $43.48<\/p>\n<\/td>\n\n 12%<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Any stock screen should only be a starting point for your own research if you are considering investing in any of the banks listed here.<\/p>\n

For this group of 10 bank stocks favored by analysts, let\u2019s end by showing this year\u2019s changes in consensus earnings estimates:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Ticker<\/strong><\/p>\n<\/td>\n\n Estimated 2023 EPS<\/strong><\/p>\n<\/td>\n\n Change in 2023 EPS estimate<\/strong><\/p>\n<\/td>\n\n Estimated 2024 EPS<\/strong><\/p>\n<\/td>\n\n Change in 2024 EPS estimate<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n Western Alliance Bancorp<\/p>\n<\/td>\n\n WAL,
\n +3.44%<\/bg-quote>\n <\/td>\n		\n $7.45<\/p>\n<\/td>\n\n -31.8%<\/p>\n<\/td>\n\n $8.39<\/p>\n<\/td>\n\n -29.7%<\/p>\n<\/td>\n<\/tr>\n
\n Webster Financial Corp.<\/p>\n<\/td>\n\n WBS,
\n +3.08%<\/bg-quote>\n <\/td>\n		\n $5.99<\/p>\n<\/td>\n\n -11.2%<\/p>\n<\/td>\n\n $6.25<\/p>\n<\/td>\n\n -13.7%<\/p>\n<\/td>\n<\/tr>\n
\n SouthState Corp.<\/p>\n<\/td>\n\n SSB,
\n +2.61%<\/bg-quote>\n <\/td>\n		\n $7.18<\/p>\n<\/td>\n\n -13.7%<\/p>\n<\/td>\n\n $6.94<\/p>\n<\/td>\n\n -16.9%<\/p>\n<\/td>\n<\/tr>\n
\n F.N.B. Corp.<\/p>\n<\/td>\n\n FNB,
\n +3.08%<\/bg-quote>\n <\/td>\n		\n $1.52<\/p>\n<\/td>\n\n -3.7%<\/p>\n<\/td>\n\n $1.52<\/p>\n<\/td>\n\n -7.6%<\/p>\n<\/td>\n<\/tr>\n
\n First Citizens BancShares Inc. Class A<\/p>\n<\/td>\n\n FCNCA,
\n +1.65%<\/bg-quote>\n <\/td>\n		\n $151.47<\/p>\n<\/td>\n\n 59.0%<\/p>\n<\/td>\n\n $171.74<\/p>\n<\/td>\n\n 64.3%<\/p>\n<\/td>\n<\/tr>\n
\n Synovus Financial Corp.<\/p>\n<\/td>\n\n SNV,
\n +2.66%<\/bg-quote>\n <\/td>\n		\n $4.67<\/p>\n<\/td>\n\n -11.8%<\/p>\n<\/td>\n\n $4.54<\/p>\n<\/td>\n\n -16.1%<\/p>\n<\/td>\n<\/tr>\n
\n Wintrust Financial Corp.<\/p>\n<\/td>\n\n WTFC,
\n +3.64%<\/bg-quote>\n <\/td>\n		\n $9.82<\/p>\n<\/td>\n\n -6.4%<\/p>\n<\/td>\n\n $9.11<\/p>\n<\/td>\n\n -13.7%<\/p>\n<\/td>\n<\/tr>\n
\n Pinnacle Financial Partners Inc.<\/p>\n<\/td>\n\n PNFP,
\n +2.68%<\/bg-quote>\n <\/td>\n		\n $6.59<\/p>\n<\/td>\n\n -17.2%<\/p>\n<\/td>\n\n $6.75<\/p>\n<\/td>\n\n -19.9%<\/p>\n<\/td>\n<\/tr>\n
\n Popular Inc.<\/p>\n<\/td>\n\n BPOP,
\n +2.06%<\/bg-quote>\n <\/td>\n		\n $7.53<\/p>\n<\/td>\n\n -24.1%<\/p>\n<\/td>\n\n $8.32<\/p>\n<\/td>\n\n -23.5%<\/p>\n<\/td>\n<\/tr>\n
\n Wells Fargo & Co.<\/p>\n<\/td>\n\n WFC,
\n -0.28%<\/bg-quote>\n <\/td>\n		\n $4.73<\/p>\n<\/td>\n\n -8.7%<\/p>\n<\/td>\n\n $4.83<\/p>\n<\/td>\n\n -15.1%<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

The large increase in EPS estimates for First Citizens BancShares Inc.
\n FCNCA,
\n +1.65%<\/bg-quote>
\n of Raleigh, N.C., reflects its lucrative deal to acquire the failed Silicon Valley Bank from the Federal Deposit Insurance Corp. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Earnings season for the largest U.S. banks will begin on Friday, July 14, when JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. announce their second-quarter results. Rounding out the \u201cbig six\u201d industry group, Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley are all scheduled to report on July 18. […]<\/p>\n","protected":false},"author":1,"featured_media":33273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-33272","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nThese 20 banks have had the largest cuts to earnings estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Earnings season for the largest U.S. banks will begin on Friday, July 14, when JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. announce\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=33272\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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