SunTrust Banks and US Bancorp Poised for Strong Finish to 2011
The Paragon Report Provides Equity Research on SunTrust Banks & US Bancorp
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/01/11 -- It appears Regional Banks have finally put the worst of the recession behind them. For well over a year banks have posted improved credit quality and in the second half of 2011 have begun to report adequate loan growth. Analysts said business borrowers are increasingly relying on banks for financing that they used to get from the bond markets and elsewhere. The Paragon Report examines the outlook for companies in the Regional Banking sector and provides equity research on SunTrust Banks, Inc. (NYSE: STI) and US Bancorp (NYSE: USB). Access to the full company reports can be found at:
Regional bank stocks struggled as the European crisis deepened over the last two months. The concern is that a debt default by Greece could severely harm European banks that hold Greek debt. Although many Regional Banks do not have a lot of -- if any -- direct exposure to the debts of European countries or banks, analysts warned that a the European debt crisis could push the US economy into recession, which would surely hurt regional banks.
With the Eurozone debt crisis showing signs of calming last week, investors can once again focus on domestic operations at US regional banks.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the regional banking industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
US Bancorp said third quarter net income rose 42 percent year on year. Revenue rose 4.5 percent to almost $4.8 billion, from $4.59 billion a year ago. Interest income rose 5.9 percent to $3.2 billion and noninterest income increased 2.9 percent to $2.17 billion. The bank said it expects both net charge-offs and nonperforming assets to improve in the fourth quarter. It released $150 million from its reserves for bad loans.
SunTrust reported net income of $211 million, or 39 cents per share, for the July-to-September period. That was up from $84 million, or 17 cents per share, in the same quarter a year ago, when earnings were reduced because the company paid $67 million of preferred dividends to the US Treasury.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 01.11.2011 - 12:16 Uhr
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