Keefe, Bruyette & Woods Slashes Earnings Estimates For 16 Financial Stocks

In a recent report, Keefe, Bruyette & Woods took a deep look at the financial sector and lowered earnings per share estimates for the following 16 companies:

• Bank of Marin Bancorp (NASDAQ: BMRC): 2015 EPS estimate was dropped from $3.40 to $3.10 and 2016 estimate was lowered from $3.55 to $3.25.
• BNC Bancorp (NASDAQ: BNCN): 2015 EPS estimate was adjusted from $1.49 to $1.48 and 2016 projection was dropped from $1.75 to $1.69.
• Bank of Hawaii Corporation (NYSE: BOH): 2015 EPS estimate was reduced from $3.90 to $3.80 and 2016 estimates were scaled back to $4.00 from $4.15.
• City Holding Company (NASDAQ: CHCO): 2015 EPS estimate was dropped from $3.17 to $3.14 and 2016 earnings outlook was reduced from $3.40 to $3.30.
• Flagstar Bancorp Inc (NYSE: FBC): 2015 EPS estimate was dropped from $0.60 to $0.55.
• Heritage Commerce Corp. (NASDAQ: HTBK): 2015 EPS estimate was adjusted from $0.55 to $0.50 and 2016 projection was dropped from $0.60 to $0.55.
• Lakeland Financial Corporation (NASDAQ: LKFN): 2015 EPS estimate was reduced from $2.80 to $2.70 and 2016 estimates were scaled back from $3.00 to $2.95.
• Metlife Inc (NYSE: MET): 2015 EPS estimate was reduced from $5.85 to $5.75.
• PacWest Bancorp (NASDAQ: PACW): 2015 EPS estimate was dropped from $3.10 to $3.00 and 2016 earnings outlook was reduced from $3.26 to $3.10.
• Principal Financial Group Inc (NYSE: PFG): 2015 EPS estimate was dropped from $4.38 to $4.37 and 2016 estimates were lowered from $4.35 to $4.30.
• Prudential Financial Inc (NYSE: PRU): 2015 EPS estimate was adjusted from $10.00 to $9.95.
• Reinsurance Group of America Inc (NYSE: RGA): 2015 EPS estimate was reduced from $8.85 to $8.75.
• SVB Financial Group (NASDAQ: SIVB): 2016 EPS estimate was reduced from $7.70 to $7.00.
• Sun Bancorp, Inc./NJ (NASDAQ: SNBC): 2015 EPS estimate was slashed from $0.29 to $0.16.
• Territorial Bancorp Inc (NASDAQ: TBNK): 2015 EPS estimate was dropped from $1.50 to $1.43 and 2016 earnings outlook was reduced from $1.60 to $1.47.
• Yadkin Financial Corp (NYSE: YDKN): 2015 EPS estimate was dropped from $1.60 to $1.58 and 2016 earnings outlook was reduced from $1.75 to $1.72.