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2021-10-11

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Banks' Q3 earnings to reflect reserve releases, weak loan activity, analysts say<blockquote>分析师表示，银行第三季度盈利反映了准备金释放和贷款活动疲软</blockquote>

Banks start reporting their Q3 results on Wednesday, and they're likely to benefit from another quar

Banks' Q3 earnings to reflect reserve releases, weak loan activity, analysts say<blockquote>分析师表示，银行第三季度盈利反映了准备金释放和贷款活动疲软</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":828658487,"tweetId":"828658487","gmtCreate":1633912094636,"gmtModify":1633912094636,"author":{"id":3568475257145403,"idStr":"3568475257145403","authorId":3568475257145403,"authorIdStr":"3568475257145403","name":"TBH","avatar":"https://static.tigerbbs.com/44757f5faca8b925554f78fb0151cdfb","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Good</body></html>","htmlText":"<html><head></head><body>Good</body></html>","text":"Good","highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/828658487","repostId":1161884052,"repostType":4,"repost":{"id":"1161884052","kind":"news","pubTimestamp":1633911643,"share":"https://www.laohu8.com/m/news/1161884052?lang=zh_CN&edition=full","pubTime":"2021-10-11 08:20","market":"us","language":"en","title":"Banks' Q3 earnings to reflect reserve releases, weak loan activity, analysts say<blockquote>分析师表示，银行第三季度盈利反映了准备金释放和贷款活动疲软</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161884052","media":"seekingalpha","summary":"Banks start reporting their Q3 results on Wednesday, and they're likely to benefit from another quar","content":"<ul> <li>Banks start reporting their Q3 results on Wednesday, and they're likely to benefit from another quarter of loan loss reserve releases and increased stock buybacks as loan growth remains tepid, analysts said.</li> <li>Traditional banking operations remained under pressure in the quarter as they lose market share to competition, loan activity has been weak, and margin pressure persists, writes Odeon Capital Markets analyst Dick Bove in a note to clients.</li> <li>Consumer loan activity&nbsp;is expected to show improvement, though it's still below prepandemic levels. \"Loan growth isn't this quarter's story, but inflection likely comes by year end,\" said <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analyst Betsy Graseck in a note.</li> <li>She expects stronger guidance for net interest income as&nbsp; 10-year Treasury 12M-forwards moved up ~40 bps from the Aug. 3 trough.</li> <li>On the capital markets&nbsp;side of the business, merger and acquisition activity has been \"unusually strong\", underwriting results are \"mostly positive\", and trading activity has been \"disappointing,\" Bove said.</li> <li>CFRA analyst Kenneth Leon expects standout Q3 results from <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>(NYSE:GS), <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>(NYSE:JPM), and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>(NYSE:MS)on capital market and asset/wealth performance.</li> <li>Leon notes that Q3 is usually the weakest quarter of the year for banks. Q3 net interest income for large banks are expected to be in the flat to low-single-digit gains, he adds.</li> <li>\"We are likely to see low to moderate credit risk for credit cards, commercial and industrial loans, commercial real estate, and trading/counterparty losses,\" Leon said in a note.</li> <li>Analysts' picks:Going into earnings season, Morgan Stanley's Graseck likes JPMorgan <a href=\"https://laohu8.com/S/CCF\">Chase</a> (JPM) as she expects improvement in card loan growth and sees potential for the bank to boost its net interest margin by reinvesting some excess liquidity in longer dated paper.</li> <li>She also notes <a href=\"https://laohu8.com/S/SYF\">Synchrony</a> Financial(NYSE:SYF)on the expectation that loan growth turns positive in the quarter and consumer credit quality continues to stay strong.</li> <li><a href=\"https://laohu8.com/S/STT\">State</a> Street(NYSE:STT)stands to gain as it's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most rate-sensitive names in Graseck's coverage.</li> <li>Jefferies analysts increase their Q3 EPS estimates for Goldman (GS) and Morgan Stanley (MS) to reflect strength in investment banking, particularly M&amp;A, and \"still-healthy, but moderating trading (below 1H21). Inflows and positive markets should contribute to durable streams.\"</li> <li>Their Goldman (GS) estimate increases 10% to $9.72 Morgan Stanley (MS) estimate by 12% to $1.71.</li> <li>Other analysts have been&nbsp;boosting quarterly EPS estimates&nbsp;for Goldman as seen in the chart below.</li> </ul> <img src=\"https://static.tigerbbs.com/22fc6fb138a135b1777cfabba50a2cab\" tg-width=\"920\" tg-height=\"547\" referrerpolicy=\"no-referrer\"><blockquote><ul><li>分析师表示，银行将于周三开始报告第三季度业绩，由于贷款增长仍然不温不火，它们可能会受益于又一个季度的贷款损失准备金释放和股票回购增加。</li><li>Odeon Capital Markets分析师迪克·博夫(Dick Bove)在给客户的一份报告中写道，传统银行业务在本季度仍然面临压力，因为它们在竞争中失去了市场份额，贷款活动疲软，利润率压力持续存在。</li><li>消费贷款活动预计将有所改善，尽管仍低于大流行前的水平。“贷款增长不是本季度的情况，但拐点可能会在年底到来，”他说<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师贝齐·格拉塞克(Betsy Graseck)在一份报告中表示。</li><li>她预计，随着10年期国债1200万远期较8月3日的低点上涨约40个基点，净利息收入指引将更加强劲。</li><li>论资本市场博夫表示，在业务方面，并购活动“异常强劲”，承销结果“大多是积极的”，交易活动“令人失望”。</li><li>CFRA分析师Kenneth Leon预计第三季度业绩将出色<a href=\"https://laohu8.com/S/GS\">高盛</a>（纽约证券交易所代码：GS），<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>（纽约证券交易所代码：JPM），以及<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>（纽约证券交易所代码：MS）关于资本市场和资产/财富表现。</li><li>莱昂指出，第三季度通常是银行一年中最疲软的季度。他补充说，大型银行第三季度净利息收入预计将持平至低个位数增长。</li><li>莱昂在一份报告中表示：“我们可能会看到信用卡、商业和工业贷款、商业房地产以及交易/交易对手损失的信用风险为低至中等。”</li><li>分析师精选：进入财报季，摩根士丹利的格拉塞克看好摩根大通<a href=\"https://laohu8.com/S/CCF\">追逐</a>（摩根大通），因为她预计信用卡贷款增长将有所改善，并认为该银行有可能通过将部分过剩流动性再投资于长期票据来提高净息差。</li><li>她还指出<a href=\"https://laohu8.com/S/SYF\">同步</a>金融（纽约证券交易所股票代码：SYF）预计本季度贷款增长将转为正值，消费者信贷质量将继续保持强劲。</li><li><a href=\"https://laohu8.com/S/STT\">国家</a>Street(NYSE：STT)将会上涨<a href=\"https://laohu8.com/S/AONE.U\">一</a>格拉塞克报道中对利率最敏感的名字之一。</li><li>杰富瑞(Jefferies)分析师上调了对高盛(GS)和摩根士丹利(MS)第三季度每股收益的预期，以反映投资银行业（尤其是并购）的实力，以及“仍然健康，但交易放缓（低于2021年上半年）。资金流入和积极的市场应该有助于持久流。”</li><li>高盛(GS)的预期上调10%至9.72美元，摩根士丹利(MS)的预期上调12%至1.71美元。</li><li>其他分析师一直在上调高盛的季度每股收益预期，如下图所示。</li></ul></blockquote> <ul> <li>Looking at regional banks and specialty finance, \"Outlooks will be key, and we expect positive management comments on peaking card payment rates and a potential bottoming in line utilization,\" writes Evercore ISI analyst John Pancari.</li> <li>He's constructive on Synchrony (SYF) and <a href=\"https://laohu8.com/S/KEY\">KeyCorp</a>(NYSE:KEY). SYF is well positioned to capture market share in consumer lending as Delta concerns fade ahead of holiday season.</li> <li>Note that SA'sQuant rating&nbsp;on SYF is Very Bullish, assigning high grades for Growth and Profitability. In the past three months, analysts have&nbsp;increased its Q3 EPS estimates&nbsp;by 22%. See chart below.</li> </ul> <img src=\"https://static.tigerbbs.com/7d147cf2252d994ddd8dc97650be2499\" tg-width=\"924\" tg-height=\"550\" referrerpolicy=\"no-referrer\"><blockquote><ul><li>Evercore ISI分析师约翰·潘卡里(John Pancari)写道，展望区域银行和专业金融，“前景将是关键，我们预计管理层对卡支付率见顶和线路利用率可能触底的积极评论”。</li><li>他对同步（SYF）很有建设性<a href=\"https://laohu8.com/S/KEY\">KeyCorp</a>（纽约证券交易所代码：KEY）。随着达美航空的担忧在假期前消退，SYF处于有利地位，可以占领消费贷款市场份额。</li><li>请注意，SA对SYF的量化评级非常乐观，对增长和盈利能力给予高分。过去三个月，分析师将第三季度每股收益预期上调了22%。见下图。</li></ul></blockquote> <ul> <li>KeyCorp (KEY) management has commented that loans increased from June to August and momentum was continuing in August, Pancari said. In addition, the bank has observed record backlog in M&amp;A, he added.</li> <li>Earnings schedule:Here's when the bigger financial firms are due to report earnings:</li> <li>Oct. 13: JPMorgan (JPM) and <a href=\"https://laohu8.com/S/BLK\">BlackRock</a>(NYSE:BLK)</li> <li>Oct. 14: <a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(NYSE:BAC), <a href=\"https://laohu8.com/S/C\">Citigroup</a>(NYSE:C), Morgan Stanley (MS), <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>(NYSE:WFC), and <a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>(NYSE:USB).</li> <li>Oct. 15: Goldman Sachs (GS), PNC Financial(NYSE:PNC)</li> <li>Oct. 18: State Street (STT)</li> <li>Oct. 19: Synchrony Financial (SYF), <a href=\"https://laohu8.com/S/BK\">Bank of New York Mellon</a>(NYSE:BK)</li> <li>Oct. 21: Blackstone(NYSE:BX), KeyCorp (KEY)</li> <li>Oct. 22: <a href=\"https://laohu8.com/S/AXP\">American Express</a>(NYSE:AXP)</li> </ul><blockquote><ul><li>Pancari表示，KeyCorp(KEY)管理层评论称，6月至8月贷款有所增加，并且8月份这一势头仍在继续。此外，他补充说，该银行的并购积压量创历史新高。</li><li>收益表：以下是大型金融公司公布收益的时间：</li><li>10月13日：摩根大通(JPM)和<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>（纽约证券交易所代码：BLK）</li><li>10月14日：<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（纽约证券交易所代码：BAC），<a href=\"https://laohu8.com/S/C\">花旗集团</a>（纽约证券交易所代码：C）、摩根士丹利（MS）、<a href=\"https://laohu8.com/S/WFC\">富国银行</a>（纽约证券交易所代码：WFC），以及<a href=\"https://laohu8.com/S/USB\">美国合众银行</a>（纽约证券交易所代码：USB）。</li><li>10月15日：高盛(GS)、PNC Financial(NYSE：PNC)</li><li>10月18日：道富银行(STT)</li><li>10月19日：同步金融(SYF)，<a href=\"https://laohu8.com/S/BK\">纽约梅隆银行</a>（纽约证券交易所代码：BK）</li><li>10月21日：Blackstone(NYSE：BX)、KeyCorp(KEY)</li><li>10月22日：<a href=\"https://laohu8.com/S/AXP\">美国运通</a>（纽约证券交易所代码：AXP）</li></ul></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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10-year Treasury 12M-forwards moved up ~40 bps from the Aug. 3 trough.</li> <li>On the capital markets&nbsp;side of the business, merger and acquisition activity has been \"unusually strong\", underwriting results are \"mostly positive\", and trading activity has been \"disappointing,\" Bove said.</li> <li>CFRA analyst Kenneth Leon expects standout Q3 results from <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>(NYSE:GS), <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>(NYSE:JPM), and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>(NYSE:MS)on capital market and asset/wealth performance.</li> <li>Leon notes that Q3 is usually the weakest quarter of the year for banks. Q3 net interest income for large banks are expected to be in the flat to low-single-digit gains, he adds.</li> <li>\"We are likely to see low to moderate credit risk for credit cards, commercial and industrial loans, commercial real estate, and trading/counterparty losses,\" Leon said in a note.</li> <li>Analysts' picks:Going into earnings season, Morgan Stanley's Graseck likes JPMorgan <a href=\"https://laohu8.com/S/CCF\">Chase</a> (JPM) as she expects improvement in card loan growth and sees potential for the bank to boost its net interest margin by reinvesting some excess liquidity in longer dated paper.</li> <li>She also notes <a href=\"https://laohu8.com/S/SYF\">Synchrony</a> Financial(NYSE:SYF)on the expectation that loan growth turns positive in the quarter and consumer credit quality continues to stay strong.</li> <li><a href=\"https://laohu8.com/S/STT\">State</a> Street(NYSE:STT)stands to gain as it's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most rate-sensitive names in Graseck's coverage.</li> <li>Jefferies analysts increase their Q3 EPS estimates for Goldman (GS) and Morgan Stanley (MS) to reflect strength in investment banking, particularly M&amp;A, and \"still-healthy, but moderating trading (below 1H21). Inflows and positive markets should contribute to durable streams.\"</li> <li>Their Goldman (GS) estimate increases 10% to $9.72 Morgan Stanley (MS) estimate by 12% to $1.71.</li> <li>Other analysts have been&nbsp;boosting quarterly EPS estimates&nbsp;for Goldman as seen in the chart below.</li> </ul> <img src=\"https://static.tigerbbs.com/22fc6fb138a135b1777cfabba50a2cab\" tg-width=\"920\" tg-height=\"547\" referrerpolicy=\"no-referrer\"><blockquote><ul><li>分析师表示，银行将于周三开始报告第三季度业绩，由于贷款增长仍然不温不火，它们可能会受益于又一个季度的贷款损失准备金释放和股票回购增加。</li><li>Odeon Capital Markets分析师迪克·博夫(Dick Bove)在给客户的一份报告中写道，传统银行业务在本季度仍然面临压力，因为它们在竞争中失去了市场份额，贷款活动疲软，利润率压力持续存在。</li><li>消费贷款活动预计将有所改善，尽管仍低于大流行前的水平。“贷款增长不是本季度的情况，但拐点可能会在年底到来，”他说<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师贝齐·格拉塞克(Betsy Graseck)在一份报告中表示。</li><li>她预计，随着10年期国债1200万远期较8月3日的低点上涨约40个基点，净利息收入指引将更加强劲。</li><li>论资本市场博夫表示，在业务方面，并购活动“异常强劲”，承销结果“大多是积极的”，交易活动“令人失望”。</li><li>CFRA分析师Kenneth Leon预计第三季度业绩将出色<a href=\"https://laohu8.com/S/GS\">高盛</a>（纽约证券交易所代码：GS），<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>（纽约证券交易所代码：JPM），以及<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>（纽约证券交易所代码：MS）关于资本市场和资产/财富表现。</li><li>莱昂指出，第三季度通常是银行一年中最疲软的季度。他补充说，大型银行第三季度净利息收入预计将持平至低个位数增长。</li><li>莱昂在一份报告中表示：“我们可能会看到信用卡、商业和工业贷款、商业房地产以及交易/交易对手损失的信用风险为低至中等。”</li><li>分析师精选：进入财报季，摩根士丹利的格拉塞克看好摩根大通<a href=\"https://laohu8.com/S/CCF\">追逐</a>（摩根大通），因为她预计信用卡贷款增长将有所改善，并认为该银行有可能通过将部分过剩流动性再投资于长期票据来提高净息差。</li><li>她还指出<a href=\"https://laohu8.com/S/SYF\">同步</a>金融（纽约证券交易所股票代码：SYF）预计本季度贷款增长将转为正值，消费者信贷质量将继续保持强劲。</li><li><a href=\"https://laohu8.com/S/STT\">国家</a>Street(NYSE：STT)将会上涨<a href=\"https://laohu8.com/S/AONE.U\">一</a>格拉塞克报道中对利率最敏感的名字之一。</li><li>杰富瑞(Jefferies)分析师上调了对高盛(GS)和摩根士丹利(MS)第三季度每股收益的预期，以反映投资银行业（尤其是并购）的实力，以及“仍然健康，但交易放缓（低于2021年上半年）。资金流入和积极的市场应该有助于持久流。”</li><li>高盛(GS)的预期上调10%至9.72美元，摩根士丹利(MS)的预期上调12%至1.71美元。</li><li>其他分析师一直在上调高盛的季度每股收益预期，如下图所示。</li></ul></blockquote> <ul> <li>Looking at regional banks and specialty finance, \"Outlooks will be key, and we expect positive management comments on peaking card payment rates and a potential bottoming in line utilization,\" writes Evercore ISI analyst John Pancari.</li> <li>He's constructive on Synchrony (SYF) and <a href=\"https://laohu8.com/S/KEY\">KeyCorp</a>(NYSE:KEY). SYF is well positioned to capture market share in consumer lending as Delta concerns fade ahead of holiday season.</li> <li>Note that SA'sQuant rating&nbsp;on SYF is Very Bullish, assigning high grades for Growth and Profitability. In the past three months, analysts have&nbsp;increased its Q3 EPS estimates&nbsp;by 22%. See chart below.</li> </ul> <img src=\"https://static.tigerbbs.com/7d147cf2252d994ddd8dc97650be2499\" tg-width=\"924\" tg-height=\"550\" referrerpolicy=\"no-referrer\"><blockquote><ul><li>Evercore ISI分析师约翰·潘卡里(John Pancari)写道，展望区域银行和专业金融，“前景将是关键，我们预计管理层对卡支付率见顶和线路利用率可能触底的积极评论”。</li><li>他对同步（SYF）很有建设性<a href=\"https://laohu8.com/S/KEY\">KeyCorp</a>（纽约证券交易所代码：KEY）。随着达美航空的担忧在假期前消退，SYF处于有利地位，可以占领消费贷款市场份额。</li><li>请注意，SA对SYF的量化评级非常乐观，对增长和盈利能力给予高分。过去三个月，分析师将第三季度每股收益预期上调了22%。见下图。</li></ul></blockquote> <ul> <li>KeyCorp (KEY) management has commented that loans increased from June to August and momentum was continuing in August, Pancari said. In addition, the bank has observed record backlog in M&amp;A, he added.</li> <li>Earnings schedule:Here's when the bigger financial firms are due to report earnings:</li> <li>Oct. 13: JPMorgan (JPM) and <a href=\"https://laohu8.com/S/BLK\">BlackRock</a>(NYSE:BLK)</li> <li>Oct. 14: <a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(NYSE:BAC), <a href=\"https://laohu8.com/S/C\">Citigroup</a>(NYSE:C), Morgan Stanley (MS), <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>(NYSE:WFC), and <a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>(NYSE:USB).</li> <li>Oct. 15: Goldman Sachs (GS), PNC Financial(NYSE:PNC)</li> <li>Oct. 18: State Street (STT)</li> <li>Oct. 19: Synchrony Financial (SYF), <a href=\"https://laohu8.com/S/BK\">Bank of New York Mellon</a>(NYSE:BK)</li> <li>Oct. 21: Blackstone(NYSE:BX), KeyCorp (KEY)</li> <li>Oct. 22: <a href=\"https://laohu8.com/S/AXP\">American Express</a>(NYSE:AXP)</li> </ul><blockquote><ul><li>Pancari表示，KeyCorp(KEY)管理层评论称，6月至8月贷款有所增加，并且8月份这一势头仍在继续。此外，他补充说，该银行的并购积压量创历史新高。</li><li>收益表：以下是大型金融公司公布收益的时间：</li><li>10月13日：摩根大通(JPM)和<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>（纽约证券交易所代码：BLK）</li><li>10月14日：<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（纽约证券交易所代码：BAC），<a href=\"https://laohu8.com/S/C\">花旗集团</a>（纽约证券交易所代码：C）、摩根士丹利（MS）、<a href=\"https://laohu8.com/S/WFC\">富国银行</a>（纽约证券交易所代码：WFC），以及<a href=\"https://laohu8.com/S/USB\">美国合众银行</a>（纽约证券交易所代码：USB）。</li><li>10月15日：高盛(GS)、PNC Financial(NYSE：PNC)</li><li>10月18日：道富银行(STT)</li><li>10月19日：同步金融(SYF)，<a href=\"https://laohu8.com/S/BK\">纽约梅隆银行</a>（纽约证券交易所代码：BK）</li><li>10月21日：Blackstone(NYSE：BX)、KeyCorp(KEY)</li><li>10月22日：<a href=\"https://laohu8.com/S/AXP\">美国运通</a>（纽约证券交易所代码：AXP）</li></ul></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://seekingalpha.com/news/3749109-banks-q3-earnings-preview\">seekingalpha</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","JPM":"摩根大通","BLK":"贝莱德"},"source_url":"https://seekingalpha.com/news/3749109-banks-q3-earnings-preview","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161884052","content_text":"Banks start reporting their Q3 results on Wednesday, and they're likely to benefit from another quarter of loan loss reserve releases and increased stock buybacks as loan growth remains tepid, analysts said.\nTraditional banking operations remained under pressure in the quarter as they lose market share to competition, loan activity has been weak, and margin pressure persists, writes Odeon Capital Markets analyst Dick Bove in a note to clients.\nConsumer loan activity is expected to show improvement, though it's still below prepandemic levels. \"Loan growth isn't this quarter's story, but inflection likely comes by year end,\" said Morgan Stanley analyst Betsy Graseck in a note.\nShe expects stronger guidance for net interest income as  10-year Treasury 12M-forwards moved up ~40 bps from the Aug. 3 trough.\nOn the capital markets side of the business, merger and acquisition activity has been \"unusually strong\", underwriting results are \"mostly positive\", and trading activity has been \"disappointing,\" Bove said.\nCFRA analyst Kenneth Leon expects standout Q3 results from Goldman Sachs(NYSE:GS), JPMorgan Chase(NYSE:JPM), and Morgan Stanley(NYSE:MS)on capital market and asset/wealth performance.\nLeon notes that Q3 is usually the weakest quarter of the year for banks. Q3 net interest income for large banks are expected to be in the flat to low-single-digit gains, he adds.\n\"We are likely to see low to moderate credit risk for credit cards, commercial and industrial loans, commercial real estate, and trading/counterparty losses,\" Leon said in a note.\nAnalysts' picks:Going into earnings season, Morgan Stanley's Graseck likes JPMorgan Chase (JPM) as she expects improvement in card loan growth and sees potential for the bank to boost its net interest margin by reinvesting some excess liquidity in longer dated paper.\nShe also notes Synchrony Financial(NYSE:SYF)on the expectation that loan growth turns positive in the quarter and consumer credit quality continues to stay strong.\nState Street(NYSE:STT)stands to gain as it's one of the most rate-sensitive names in Graseck's coverage.\nJefferies analysts increase their Q3 EPS estimates for Goldman (GS) and Morgan Stanley (MS) to reflect strength in investment banking, particularly M&A, and \"still-healthy, but moderating trading (below 1H21). Inflows and positive markets should contribute to durable streams.\"\nTheir Goldman (GS) estimate increases 10% to $9.72 Morgan Stanley (MS) estimate by 12% to $1.71.\nOther analysts have been boosting quarterly EPS estimates for Goldman as seen in the chart below.\n\n\n\nLooking at regional banks and specialty finance, \"Outlooks will be key, and we expect positive management comments on peaking card payment rates and a potential bottoming in line utilization,\" writes Evercore ISI analyst John Pancari.\nHe's constructive on Synchrony (SYF) and KeyCorp(NYSE:KEY). SYF is well positioned to capture market share in consumer lending as Delta concerns fade ahead of holiday season.\nNote that SA'sQuant rating on SYF is Very Bullish, assigning high grades for Growth and Profitability. In the past three months, analysts have increased its Q3 EPS estimates by 22%. See chart below.\n\n\n\nKeyCorp (KEY) management has commented that loans increased from June to August and momentum was continuing in August, Pancari said. In addition, the bank has observed record backlog in M&A, he added.\nEarnings schedule:Here's when the bigger financial firms are due to report earnings:\nOct. 13: JPMorgan (JPM) and BlackRock(NYSE:BLK)\nOct. 14: Bank of America(NYSE:BAC), Citigroup(NYSE:C), Morgan Stanley (MS), Wells Fargo(NYSE:WFC), and U.S. Bancorp(NYSE:USB).\nOct. 15: Goldman Sachs (GS), PNC Financial(NYSE:PNC)\nOct. 18: State Street (STT)\nOct. 19: Synchrony Financial (SYF), Bank of New York Mellon(NYSE:BK)\nOct. 21: Blackstone(NYSE:BX), KeyCorp (KEY)\nOct. 22: American Express(NYSE:AXP)","news_type":1,"symbols_score_info":{"BLK":0.9,"JPM":0.9,"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":3598,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Banks' Q3 earnings to reflect reserve releases, weak loan activity, analysts say<blockquote>分析师表示，银行第三季度盈利反映了准备金释放和贷款活动疲软</blockquote>

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