This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at email@example.com or call 800-767-3771 ext. 9339.
For Immediate Release
Chicago, IL – November 1, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include BB&T Corporation (BBT - Analyst Report), Capital One Finance Corp. (COF - Analyst Report), Fifth Third Bancorp (FITB - Analyst Report), US Bancorp (USB - Analyst Report) and Wells Fargo & Company (WFC - Analyst Report).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Wednesday’s Analyst Blog:
Fitch Affirms Ratings of 14 Banks
Fitch Ratings has affirmed its Issuer Default Ratings (IDRs) on 14 large regional banks. This follows a thorough review of the peer group.
The banks include BB&T Corporation (BBT - Analyst Report), Capital One Finance Corp. (COF - Analyst Report), Fifth Third Bancorp (FITB - Analyst Report), US Bancorp (USB - Analyst Report) and Wells Fargo & Company (WFC - Analyst Report), to name but a few.
Based on ratings, the group has been divided into three distinct categories. The first category banks have an ‘AA-‘or ‘A+ rating. The ratings are sustained mainly by these banks’ sturdy earnings profile, sensible risk profiles, consistent performance through the recent financial crisis, and steady earnings growth. Although asset quality of some of these banks deteriorated, sound capital position and reserves absorbed all the losses stemming from it. US Bancorp, Wells Fargo, BBT and PNC fall in this section.
The second category involves banks, which have diverse ratings spanning from ‘A’ to ‘BBB+’. UnionBanCal, Capital One, Comerica, Fifth-Third, KeyCorp, M&T Bank, and Huntington come under this group. According to Fitch, these banks have solid credit profiles, but certain bank-specific aspects keep these away from being on the top. For instance, relatively low earnings mar some companies having strong capital position and in some cases, low capital position offset the strong risk-adjusted earnings.
In the last category, banks having ‘BBB+’ to ‘BBB-‘ratings are included. Zions, SunTrust, and Regions’ belong to this group. As per Fitch, these banks lagged peers in terms of earnings and asset quality performance during the financial crisis, but of late have started displaying improving trends.
Earlier in October, Fitch had reiterated the long and short-term IDR of 12 Global Trading and Universal Bank (GTUB) peer group (formed last October and includes 13 major securities trading and universal banks). Moreover, excluding one bank, Fitch re-affirmed the respective outlook for all others.
The rating affirmation will prove beneficial to the already stressed financial sector. Further, this will reinforce investors’ confidence in the sector. Also, this might help the financial institutions to withstand another financial crisis.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339