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Steady Expectations: Weekly Bank Recap

Basel III, increasing mortgage repurchases and foreclosures as well as JPMorgan Chase's troubles with its online banking system seem to snatch bank stock headlines this week.

NEW YORK (

TheStreet

) -

Basel III

, increasing

mortgage repurchases

and foreclosures as well as

JPMorgan Chase's (JPM) - Get JPMorgan Chase & Co. Report

troubles with its online banking system seem to snatch bank stock headlines this week.

The

Financial Select Sector SPDR

(XLF) - Get Financial Select Sector SPDR Fund Report

was trading down 1.4% for the week at midday Friday.

Bank management teams were busy this week giving presentations at conferences like the Barclays Global Financial Services Conference and in private investor meetings, as the quarter comes to a close in less than two weeks. The general message seems to be incrementally more positive than investors were expecting, says Todd Hagerman, an analyst at Collins Stewart.

Investors held fears that activity levels, whether corporate or consumer, had fallen dramatically during the third quarter, Hagerman says. However, the message many bank management's had to say was that "we didn't fall off a cliff," Hagerman says, adding that whether it was commercial borrowing or fee income, levels were fairly steady.

SunTrust Banks' (STI) - Get SunTrust Banks, Inc. Report CFO Mark Chancy

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, for example, told investors on Tuesday at the Barclays conference that the Atlanta-based super regional bank plans to return to profitability in the third quarter. SunTrust hasn't posted a profit since 2008.

JPMorgan's Chairman and CEO Jamie Dimon emphasized during a keynote speech at the Barclays conference that

revenue growth

will predominantly come from international business.

U.S. Bancorp

(USB) - Get U.S. Bancorp Report

saw its shares fall on Wednesday after the super regional bank lowered its long term EPS guidance to between 8% and 10% from 10%, likely due to new regulation and a slower growth environment, during an investor day in New York.

Still analysts say U.S. Bancorp's operations are "best in class," and perhaps investors have not fully priced in the new regulations from FinReg and Basel III.

"The company's goals and current profitability measures are still better than most, if not all, of the large cap banks we cover, in our view," writes Stifel Nicolaus analyst Chris Mutascio, in a note Thursday.

--Written by Laurie Kulikowski in New York.

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Laurie Kulikowski

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.