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Goldman's shares have now returned 44% year-to-date, following a 46% decline during 2011. The shares are down 22% since the end of 2010. The shares trade just below their Reported Sept. 30 tangible book value of $129.69, and for 10.1 times the consensus 2013 EPS estimate of $12.68. The consensus 2014 EPS estimate is $14.12. Staite has a neutral rating on Goldman, with a price target of $120 and estimates that the company will report fourth-quarter operating earnings of $2.97 a share. The analyst is slightly ahead of the consensus, estimating the company will earn $12.70 a share in 2013, followed by EPS of $14.30 in 2014. Staite estimates that Goldman Sachs will be approved by the Fed to increase its stock buybacks significantly, from $4.612 billion in 2012, to $7 billion in 2013 and $8 billion in 2014. GS data by YCharts
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