에 대한 최신 뉴스 First BanCorp (NYSE:FBP) 주식

First BanCorp

First BanCorp is a financial holding company. The company's operating segment includes Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. It generates maximum revenue from the Consumer (Retail) Banking segment. The Consumer (Retail) Banking segment generates majority revenue, which consists of the Corporation's consumer lending and deposit-taking activities conducted mainly through its branch network and loan centres. Geographically, it derives a majority of revenue from Puerto Rico.

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FITB

TCBI

미국 은행들이 3분기 실적을 발표할 준비를 하면서, 투자자들은 경제의 연착륙 가능성, 연방준비제도(연준)의 금리 인하, 그리고 이들이 은행 가치 평가에 미치는 영향에 주목하고 있다.

미국 은행 실적 미리보기: 연착륙 희망, 금리 인하, 주가의 주요 촉매제

FRMRS BK APPOMATTO by Farmers Bank of Appomattox (VA)

Farmers Bank of Appomattox

FIRST BANCORP INDIANA by First Bancorp of Indiana, Inc.

First Bancorp of Indiana Inc

FIRST BANCORP ORD

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and <a href="https://www.benzinga.com/topic/banks">their impact on bank valuations. </a>
Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks. They predict that a soft-landing scenario could trigger a rebound in customer activity, improve loan growth, and positively drive higher price-to-earnings (P/E) multiples for the sector. However, macro uncertainties, including Fed policy shifts and the upcoming U.S. elections, temper the enthusiasm.
Bank of America equity analyst Ebrahim H. Poonawala highlighted in a note Monday that rate cuts could be &#8220;structurally bullish&#8221; for bank earnings per share (EPS) outlooks and stock P/E multiples. A softer rate environment is expected to reinvigorate customer activity, particularly in investment banking, mortgage lending, and loan growth.
However, lower interest rates are expected to negatively impact &#8220;asset-sensitive banks&#8221; as loan yields will drop.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This &#8216;Positive Catalyst&#8217; Could Be More Important</a>
<h3 class="wp-block-heading">Political Risks Loom Large Ahead of Elections</h3>
The upcoming U.S. election adds an additional layer of uncertainty for banks. 
&#8220;A&nbsp;Trump win is likely seen as positive for relief on the regulatory/M&amp;A fronts.&nbsp;Democratic sweep likely most negative outcome for the sector given potential for higher taxes, more of the same (or worse) on regulatory changes,&#8221; analysts wrote.
While current valuations appear cautiously optimistic about a soft landing, political outcomes could trigger volatile movements in the sector. A Trump win would likely lead to a &#8220;knee-jerk&#8221; positive reaction in bank stocks, while a Democratic win could weigh on sentiment.
<h3 class="wp-block-heading">Regional Banks Preferred Over Money Center Banks</h3>
For the third quarter of 2024, the investment bank favored regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), over large money center banks, citing &#8220;better defensibility of net interest income (NII).&#8221;
Regionals have greater flexibility with deposits, better hedging strategies, and more potential for capital relief as mark-to-market losses on bond books decline. 
Key picks include U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), Fifth Third (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), and Truist Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>).
First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is seen as the &#8220;best positioned to navigate current rate expectations,&#8221; while Texas Capital Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is the most impacted.
On Monday, Bank of America also downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from &#8220;Neutral&#8221; to &#8220;Underperform,&#8221; reducing the price target from $55 to $52. Analyst Brandon Berman highlighted that the positive rate trade underpinning Comerica &#8220;has run its course,&#8221; and the stock now trades above the high end of its historical range, not reflecting the risk of downward earnings revisions.
Looking ahead, Friday, Oct. 11, will see key earnings reports from JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNY#NYSE">BNY</a>).
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Image created using artificial intelligence via Midjourney.

US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks

Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Equal-Weight and raises the price target from $20 to $22.

News

Price Target

Analyst Ratings

Wells Fargo Maintains Equal-Weight on First BanCorp, Raises Price Target to $22

Analysts' ratings for First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated First BanCorp and provided 12-month price targets. The average target is $20.5, accompanied by a high estimate of $22.00 and a low estimate of $19.00. This current average reflects an increase of 10.81% from the previous average price target of $18.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1724691642_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of First BanCorp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Announces</td>
<td>Neutral</td>
<td>$22.00</td>
<td>-</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Daniel Tamayo</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$21.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to First BanCorp. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of First BanCorp compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for First BanCorp's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of First BanCorp's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FBP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on First BanCorp analyst ratings.</a>
<h2>Delving into First BanCorp's Background</h2>
First BanCorp is a financial holding company. The company's operating segment includes Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. It generates maximum revenue from the Consumer (Retail) Banking segment. The Consumer (Retail) Banking segment generates majority revenue, which consists of the Corporation's consumer lending and deposit-taking activities conducted mainly through its branch network and loan centres. Geographically, it derives a majority of revenue from Puerto Rico.
<h3>Understanding the Numbers: First BanCorp's Finances</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, First BanCorp faced challenges, resulting in a decline of approximately -0.7% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: First BanCorp's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 33.32%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): First BanCorp's ROE excels beyond industry benchmarks, reaching 5.1%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.4%, the company showcases effective utilization of assets.
Debt Management: First BanCorp's debt-to-equity ratio is below the industry average at 0.44, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Critical Insights From First BanCorp Analyst Ratings: What You Need To Know

Piper Sandler analyst Frank Schiraldi assumes First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Neutral rating and announces Price Target of $22.

Initiation

Piper Sandler Assumes First BanCorp at Neutral, Announces Price Target of $22

Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Equal-Weight and raises the price target from $19 to $20.

Wells Fargo Maintains Equal-Weight on First BanCorp, Raises Price Target to $20

First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.41 by 12.2 percent. This is a 24.32 percent increase over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $199.628 million which missed the analyst consensus estimate of $201.414 million by 0.89 percent. This is a 0.09 percent decrease over sales of $199.815 million the same period last year.

Earnings Beats

Earnings Misses

First BanCorp Q2 2024 Adj EPS $0.46 Beats $0.41 Estimate, Sales $199.628M Miss $201.414M Estimate

<div>The declaration of a quarterly cash dividend of&nbsp;$0.16&nbsp;per share on its outstanding common stock. The dividend is payable on September 13, 2024 to shareholders of record at the close of business on August 29, 2024.</div>
<div>&nbsp;</div>
<div>The company expects&nbsp;repurchase to be executed at management&#39;s discretion through the end of the 4th&nbsp;quarter of 2025. This approval is in addition to the&nbsp;$50 million&nbsp;remaining under the stock repurchase program announced on July 24, 2023.</div>

Dividends

Buybacks

First BanCorp Plans New Repurchase Program Of Up To $250M That Could Include Repurchases Of Common Stock Or Junior Subordinated Debentures

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TBBK

Shares of banking stocks are trading higher amid sympathy with Bank of America after the company reported better-than-expected Q2 financial results.

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider First Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbp#NYSE">FBP</a>). This company, which is in the Zacks Banks - Southeast industry, shows potential for another earnings beat.
This holding company for FirstBank Puerto Rico has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 20.72%.
For the most recent quarter, First Bancorp was expected to post earnings of $0.38 per share, but it reported $0.44 per share instead, representing a surprise of 15.79%. For the previous quarter, the consensus estimate was $0.39 per share, while it actually produced $0.49 per share, a surprise of 25.64%.
Price and EPS Surprise
<img alt="" class="chart" src="https://chart-service.zacks.com/images/daily/yesop_price_eps_surprise/FBP.png" style="width:100%" title="" />
For First Bancorp, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock&#39;s positive Zacks Earnings ESP (Expected Surprise Prediction), it&#39;s a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
First Bancorp has an Earnings ESP of +4.76% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock&#39;s Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company&#39;s next earnings report is expected to be released on July 23, 2024.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
<a href="https://www.zacks.com/stock/news/2299456/why-first-bancorp-fbp-could-beat-earnings-estimates-again?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_7-2299456">To read this article on Zacks.com click here.</a>

Markets

Trading Ideas

Why First Bancorp Could Beat Earnings Estimates Again

Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Equal-Weight and raises the price target from $18 to $19.

Wells Fargo Maintains Equal-Weight on First BanCorp, Raises Price Target to $19

Raymond James analyst Daniel Tamayo initiates coverage on First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Outperform rating and announces Price Target of $21.

Raymond James Initiates Coverage On First BanCorp with Outperform Rating, Announces Price Target of $21

A vibrant labor market dashed expectations of an interest rate cut soon. May&#39;s startling uptick in the pace of job additions and wages increased the belief that the Federal Reserve will hold rates at record highs through this summer and maybe beyond.
Nonfarm payrolls increased by 272,000 in May, well above April&#39;s meager gain of 165,000 and above analysts&#39; estimate of 190,000 new job additions, per the Bureau of Labor Statistics. The figure was also higher than the 232,000 monthly average employment gains for the past year.
Now, the jobless rate may have ticked up to the 4% mark, but there weren&#39;t many indications of a slowdown in the labor market. After all, the yearly wage growth moved up to 4.1% from 4%. Wage growth hovered at the 4% mark since last fall. Additionally, average hourly earnings increased 0.4% in May, following a slowdown to a rate of 0.2% in the prior month.
Relentless job additions and acceleration in monthly employment gains could increase inflationary pressures, which may compel the Fed to remain hawkish. The central bank&#39;s preferred inflation gauge, the personal consumption expenditures index, anyway, was up 2.7% year over year in April, higher than the desired target of 2%.
The CME FedWatch Tool shows that most of the market participants expect no rate cut in the Federal Open Market Committee&#39;s meetings in June and July. What&#39;s more, they are just pricing in a 50-50 probability of a rate cut in the September meeting. All these expectations are sharply down from the beginning of the year.
From an investment standpoint, since interest rates are anticipated to stay higher for longer, astute investors should place their bets on financials, including lenders and insurers. Banks tend to reap the benefits of higher interest rates since they increase the spread between their long-term assets, such as loans, and their short-term liabilities, including deposits, which eventually boosts lenders&#39; profit margins.
Meanwhile, insurers invest the premiums they receive from policyholders in bonds. Now, elevated interest rates push the yields on these bonds higher, helping insurers to further invest the premiums at a higher yield, and rake in more money.
This calls for investing in stocks such as Bank of America Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>), Brown &amp; Brown, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bro#NYSE">BRO</a>), First BanCorp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbp#NYSE">FBP</a>), Hamilton Insurance Group, Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hg#NYSE">HG</a>) and The Goldman Sachs Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>), which should be meaningful additions to your portfolio. The stocks boast a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Bank of America is one of the largest financial holding companies in the United States. BAC currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has increased 3.5% over the past 60 days. The company&#39;s expected earnings growth for the next five years is 7%.
Brown &amp; Brown markets and sells insurance products and services primarily in the United States. BRO currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has increased 7.1% over the past 60 days. The company&#39;s expected earnings growth for the current year is 28.5%.
First BanCorp. operates as a bank holding company. FBP currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has increased 6% over the past 60 days. The company&#39;s expected earnings growth for the current year is 3.5%.
Hamilton Insurance underwrites specialty insurance and reinsurance risks principally in Bermuda and internationally. HG currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has increased 29.4% over the past 60 days. The company&#39;s expected earnings growth for the current year is 40.6%.
Goldman Sachs is a leading global financial holding company. GS currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has increased 11.5% over the past 60 days. The company&#39;s expected earnings growth for the current year is 59.9%.
<a href="https://www.zacks.com/stock/news/2285872/strong-jobs-report-diminishes-fed-rate-cut-hopes-5-winners?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2285872">To read this article on Zacks.com click here.</a>

Strong Jobs Report Diminishes Fed Rate-Cut Hopes: 5 Winners

Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Outperform and raises the price target from $19 to $21.

Keefe, Bruyette & Woods Maintains Outperform on First BanCorp, Raises Price Target to $21

First BanCorp. shares are trading higher following Q1 earnings.

First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) reported quarterly earnings of $0.44 per share which beat the analyst consensus estimate of $0.37 by 18.92 percent. This is a 12.82 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $196.520 million which missed the analyst consensus estimate of $205.777 million by 4.50 percent. This is a 2.17 percent decrease over sales of $200.885 million the same period last year.

First BanCorp Q1 2024 Adj EPS $0.44 Beats $0.37 Estimate, Sales $196.520M Miss $205.777M Estimate

<h3>Companies Reporting Before The Bell</h3>
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&bull; MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is expected to report quarterly earnings at $3.45 per share on revenue of $684.13 million.
&bull; Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) is expected to report quarterly earnings at $1.85 per share on revenue of $2.29 billion.
&bull; Community Bank System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBU#NYSE">CBU</a>) is expected to report quarterly earnings at $0.78 per share on revenue of $176.83 million.
&bull; Herc Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) is estimated to report quarterly earnings at $2.15 per share on revenue of $782.85 million.
&bull; JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) is expected to report quarterly loss at $0.52 per share on revenue of $2.20 billion.
&bull; General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is expected to report quarterly earnings at $2.14 per share on revenue of $41.88 billion.
&bull; GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is estimated to report quarterly earnings at $0.65 per share on revenue of $15.34 billion.
&bull; Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $3.85 billion.
&bull; United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) is projected to report quarterly earnings at $1.30 per share on revenue of $21.87 billion.
&bull; Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $259.77 million.
&bull; Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $1.75 billion.
&bull; PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is projected to report quarterly earnings at $1.52 per share on revenue of $18.08 billion.
&bull; Kiniksa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) is expected to report quarterly loss at $0.18 per share on revenue of $79.61 million.
&bull; Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $1.53 billion.
&bull; Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) is likely to report quarterly earnings at $2.21 per share on revenue of $5.49 billion.
&bull; Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $72.52 million.
&bull; Preferred Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFBC#NASDAQ">PFBC</a>) is projected to report quarterly earnings at $2.38 per share on revenue of $66.30 million.
&bull; Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.74 per share on revenue of $5.67 billion.
&bull; Peoples Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEBO#NASDAQ">PEBO</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $109.74 million.
&bull; Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $1.01 billion.
&bull; WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $3.27 billion.
&bull; Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is estimated to report quarterly earnings at $5.81 per share on revenue of $15.95 billion.
&bull; GATX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) is estimated to report quarterly earnings at $1.76 per share on revenue of $375.80 million.
&bull; NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $5.92 billion.
&bull; Atlantic Union Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUB#NYSE">AUB</a>) is likely to report quarterly earnings at $0.72 per share on revenue of $181.92 million.
&bull; Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $1.09 billion.
&bull; Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) is likely to report quarterly earnings at $1.79 per share on revenue of $4.58 billion.
&bull; NextEra Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $331.80 million.
&bull; Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $5.23 billion.
&bull; Cambridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATC#NASDAQ">CATC</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $38.05 million.
&bull; Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) is projected to report quarterly earnings at $1.42 per share on revenue of $618.43 million.
&bull; Option Care Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPCH#NASDAQ">OPCH</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $1.10 billion.
&bull; Kimberly-Clark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) is likely to report quarterly earnings at $1.62 per share on revenue of $5.08 billion.
&bull; Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $439.87 million.
&bull; First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is estimated to report quarterly earnings at $0.37 per share on revenue of $205.74 million.
&bull; First Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCF#NYSE">FCF</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $119.93 million.
&bull; Sandy Spring Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SASR#NASDAQ">SASR</a>) is estimated to report quarterly earnings at $0.45 per share on revenue of $81.04 million.
&bull; Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) is expected to report quarterly earnings at $1.89 per share on revenue of $560.41 million.
&bull; Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $5.62 billion.
&bull; Philip Morris Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) is likely to report quarterly earnings at $1.41 per share on revenue of $8.46 billion.
&bull; Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $3.06 billion.
&bull; LKQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $3.77 billion.
&bull; PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is expected to report quarterly earnings at $2.36 per share on revenue of $3.58 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Avangrid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGR#NYSE">AGR</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $2.63 billion.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHB#NASDAQ">RUSHB</a>) is likely to report earnings for its first quarter.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHA#NASDAQ">RUSHA</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $1.88 billion.
&bull; AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) is likely to report quarterly loss at $0.08 per share on revenue of $8.03 million.
&bull; Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) is expected to report quarterly earnings at $1.43 per share on revenue of $507.18 million.
&bull; Zurn Elkay Water (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZWS#NYSE">ZWS</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $368.99 million.
&bull; Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is projected to report quarterly earnings at $0.62 per share on revenue of $163.60 million.
&bull; KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $44.35 million.
&bull; Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $6.38 billion.
&bull; Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $283.32 million.
&bull; Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $59.03 million.
&bull; Matador Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) is likely to report quarterly earnings at $1.47 per share on revenue of $740.47 million.
&bull; Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) is likely to report quarterly earnings at $2.43 per share on revenue of $8.62 billion.
&bull; Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) is likely to report quarterly earnings at $5.34 per share on revenue of $10.29 billion.
&bull; Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is estimated to report quarterly earnings at $3.43 per share on revenue of $4.73 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $48.29 million.
&bull; CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $649.60 million.
&bull; Seagate Tech Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $1.67 billion.
&bull; Hawaiian Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) is projected to report quarterly loss at $2.62 per share on revenue of $628.95 million.
&bull; Vicor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $84.83 million.
&bull; Veritex Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $109.00 million.
&bull; Artisan Partners Asset (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APAM#NYSE">APAM</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $265.60 million.
&bull; Enova International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) is expected to report quarterly earnings at $1.70 per share on revenue of $588.52 million.
&bull; Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $21.27 billion.
&bull; EQT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) is likely to report quarterly earnings at $0.66 per share on revenue of $1.63 billion.
&bull; West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $2.01 billion.
&bull; Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is likely to report quarterly earnings at $1.01 per share on revenue of $148.23 million.
&bull; Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $206.78 million.
&bull; Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $83.82 million.
&bull; Pebblebrook Hotel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $303.41 million.
&bull; Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) is estimated to report quarterly earnings at $0.61 per share on revenue of $189.37 million.
&bull; Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $695.20 million.
&bull; Mattel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) is expected to report quarterly loss at $0.13 per share on revenue of $831.06 million.
&bull; EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) is expected to report quarterly earnings at $2.01 per share on revenue of $152.09 million.
&bull; Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) is likely to report quarterly earnings at $0.87 per share on revenue of $243.45 million.
&bull; QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is likely to report quarterly earnings at $1.30 per share on revenue of $58.85 million.
&bull; Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $116.64 million.
&bull; Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) is likely to report quarterly earnings at $0.47 per share on revenue of $52.54 million.
&bull; Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $3.14 billion.
&bull; Veralto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLTO#NYSE">VLTO</a>) is expected to report quarterly earnings at $0.76 per share on revenue of $1.22 billion.
&bull; Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $726.32 million.
&bull; Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is projected to report quarterly earnings at $1.07 per share on revenue of $3.61 billion.
&bull; iShares Frontier and Select EM ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $1.06 billion.
&bull; IDEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEX#NYSE">IEX</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $806.94 million.
&bull; Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) is likely to report quarterly earnings at $1.44 per share on revenue of $1.33 billion.
&bull; Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) is estimated to report quarterly earnings at $0.98 per share on revenue of $137.26 million.
&bull; First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $109.21 million.
&bull; East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is likely to report quarterly earnings at $1.99 per share on revenue of $577.70 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 23, 2024

Capital City Bank (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ccbg#NASDAQ">CCBG</a>) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this bank holding company would post earnings of $0.74 per share when it actually produced earnings of $0.70, delivering a surprise of -5.41%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Capital City Bank, which belongs to the Zacks Banks - Southeast industry, posted revenues of $56.45 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 0.87%. This compares to year-ago revenues of $62.64 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Capital City Bank shares have lost about 8% since the beginning of the year versus the S&amp;P 500&#39;s gain of 4.1%.
What&#39;s Next for Capital City Bank?
While Capital City Bank has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Capital City Bank: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.72 on $57.75 million in revenues for the coming quarter and $2.87 on $231.6 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, First BanCorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbp#NYSE">FBP</a>), has yet to report results for the quarter ended March 2024. The results are expected to be released on April 23.
This holding company for FirstBank Puerto Rico is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -2.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Bancorp&#39;s revenues are expected to be $229.19 million, down 1.8% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2258971/capital-city-bank-ccbg-q1-earnings-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2258971">To read this article on Zacks.com click here.</a>

CCBG

Capital City Bank Q1 Earnings Beat Estimates

Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) with a Equal-Weight and raises the price target from $16 to $18.

Wells Fargo Maintains Equal-Weight on First BanCorp, Raises Price Target to $18

Shares of major U.S. financial stocks, as represented by the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), surged to record highs, in the wake of the March Federal Open Market <a href="https://www.benzinga.com/topic/fomc">Committee (FOMC) meeting.</a> 
This rally was fueled by anticipations of stronger economic growth and a reduction in borrowing costs, potentially boosting loan <a href="https://www.benzinga.com/topic/banks">demands for U.S. banks.</a>
Equity analyst Ebrahim H. Poonawala from Bank of America highlighted the market&#8217;s optimistic outlook in a note on Thursday, noting the Fed&#8217;s projection of three 25 basis point rate cuts in 2024 and its &#8220;fairly soon&#8221; reference to the commencement of the quantitative tightening (QT) taper represent bullish signals for bank stocks.
Following the FOMC&#8217;s latest meeting and comments by Fed Chair Jerome Powell, regional bank stocks, as indicated by the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a sharp increase of over 4%, and surged by a further 3% on Thursday&#8217;s morning trading. 
Chart: US Financial Stocks Soar To Record Highs Post-Fed Meeting 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="476" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png" alt="" class="wp-image-260811" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-768x357.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1536x714.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">A Shift In Market Sentiment: Toward A 1995 Scenario?</h3>
Poonawala&#8217;s analysis suggests that the increased confidence in a more lenient monetary policy has led markets to reassess the likelihood of tail risk events negatively impacting the economy. 
Instead, there&#8217;s a growing belief of &#8220;a 1995&nbsp;soft landing scenario for bank stocks,&#8221; where the sector could experience significant growth. 
Reflecting on history, the analysis recalled the year 1995, when bank stocks soared by 54% following a pause in Federal Reserve rate hikes, significantly outperforming the S&amp;P 500&#8217;s 34% gain.
<h3 class="wp-block-heading">Bank of America&#8217;s Bullish Outlook On Major Banks</h3>
The report further emphasized Bank of America&#8217;s continued positive stance on leading financial institutions such as Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), propelled by the expectation of an upturn in capital market activities. 
This optimistic view was reinforced by the stellar debut of Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) and the high-end pricing of Reddit&#8216;s IPO, suggesting a favorable risk/reward scenario for Goldman Sachs and Morgan Stanley.
<h3 class="wp-block-heading">Potential For &#8216;Super-Regional Banks&#8217; To Narrow The Gap Versus Major Players</h3>
Despite potential challenges such as increasing regulatory pressures and commercial real estate concerns, there appears to be room for regional banks to reduce the valuation gap with their Global Systemically Important Banks (GSIB) counterparts. 
Bank of America highlighted that super-regional banks – an elite group represented by U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), F.N.B. Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>), First Bancorp. New (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) – are trading at an 8% discount relative to GSIBs, a notable shift from their historical 14% premium.
<h3 class="wp-block-heading">Goldman Sachs Is Bullish On First Citizens Bancshares</h3>
In a related analysis, Goldman Sachs equity analyst Ryan M. Nash initiated coverage on First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) with a Buy rating and <a href="https://www.benzinga.com/news/24/03/37864877/goldman-sachs-initiates-coverage-on-first-citizens-bancshares-with-buy-rating-announces-price-target">a $1,950 price target. </a>
Described as a leading regional bank, First Citizens Bancshares is well-positioned to return more than 20% of its market capitalization to shareholders through buybacks in the near term. Despite concerns over credit impairments linked to commercial real estate. 
Nash believes that the bank&#8217;s reserves are sufficient and anticipates an improvement in potential losses over time.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37859344/s-p-500-closes-at-record-high-after-fed-charts-interest-rate-path-markets-continue-">S&amp;P 500 Closes At Record High After Fed Charts Interest Rate Path: &#8216;Markets Continue To Have A Green Light To Run Higher,&#8217; CIO Says</a>
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