JPMorgan ChaseThe consensus among analysts polled by Thomson Reuters is for JPMorgan Chase to report first-quarter EPS of $1.39 a share, matching the results in the fourth quarter and increasing from $1.19 in the first quarter of 2012. When discussing areas of focus for JPMorgan's earnings report, KBW analyst Frederick Cannon said in a note to clients late on Tuesday that "while much attention is paid to trading, investment banking, and net interest income, the company's asset management business quietly chugs along as the second-largest component of total revenues (15% in 2012)."
Wells FargoAnalysts expect Wells Fargo to report first-quarter earnings of 88 cents a share, declining from 92 cents in the fourth quarter, but increasing from 75 cents in the first quarter of 2012. Wells Fargo's mortgage loan origination and sale revenue is expected to suffer a major decline this year, although the decline may be largely offset by increases in loan servicing revenue and accounting adjustments. Wells Fargo's shares were down slightly to close at $37.51.
Fifth ThirdShares of Fifth Third Bancorp have returned 12% this year, following a 23% return during 2012. The shares trade for 1.4 times tangible book value, and for 10.0 times the consensus 2014 EPS estimate of $1.69. The consensus 2013 EPS estimate is $1.64. Following the completion of the Federal Reserve's annual stress tests, Fifth Third on March 14 announced a "potential increase" in its quarterly dividend from 10 cents a share, with approval for the potential repurchase of up to $750 million in trust preferred securities. The company also received approval for the potential conversion of $398 million in convertible preferred shares to common shares. If the conversions are completed, the company has Federal Reserve approval for common share buybacks totaling up to $984 million. Based on the current quarterly payout, the shares have a dividend yield of 2.37%. The company will announce its first-quarter results on April 18, with the consensus estimate being a profit of 38 cents, declining from 43 cents in the fourth quarter and 45 cents in the first quarter of 2012.
Interested in more on Fifth Third Bancorp? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn