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Tuesday, August 14, 2012

Big Banks Long-Term Growth Stalls: U.S. Bancorp and Wells Fargo Shine



Long-Term Year on Year Earnings Performance

Only 2 of the 10 Largest USA Banks reported gains in net income from the prior year Q2 2012. The other 8 reported year over year decreases. Shining were U.S. Bancorp (+18%) and Wells Fargo (+17%). Reporting the smallest YoY decreases were JPMorgan (-9%), Goldman Sachs (-12%), and Citigroup (-12%). Those dropping more significantly were BNY Mellon (-35%), PNC Financial (-40%), and Morgan Stanley (-50%). Even worse at next-to-last and last-place were Capital One (-90%) and Bank of America (-128%).



Short-Term Quarter on Quarter Earnings Performance

Sequential quarterly net income results, the change from the prior quarter Q1 2012, were better. 6 of the 10 Largest USA Banks reported increases with Morgan Stanley and Bank of America at the top with +729% and +277%, respectively. Next were Wells Fargo (+9%), U.S. Bancorp (+6%), JPMorgan (+1%), and Citigroup (+1%). Reporting decreases QoQ were BNY Mellon (-21%), PNC Financial (-33%), Goldman Sachs (-54%), and Capital One (-94%).



Largest USA Banks Ratings: U.S. Bancorp & Wells Fargo Tops, Goldman Sachs Last

Big Banks Assets Shrink, Capital Strengthens

Big Banks Earnings Increase: JPMorgan, Wells Fargo, Citigroup Most Profitable

$XLF $USB $PNC $WFC $BK $BAC $JPM $C $MS $GS $COF

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