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FINWIRES

瑞银称，美国银行第一季度业绩或将支撑其评级重估

-- 美国银行 (BAC) 公布的第一季度每股收益为 1.11 美元，高于市场普遍预期的 1.02 美元和瑞银 (UBS) 的 1.03 美元。瑞银表示，这一业绩可能支持重新评级，但即将发布的财报电话会议和业绩指引对于能否持续超预期表现至关重要。 该行公布的存款成本为 1.99%，比市场普遍预期高出 7 个基点。瑞银证券指出，这一点至关重要，因为富国银行 (WFC) 在该方面表现不佳，而美国银行采取差异化的存款利率策略可能成为其业绩突破的催化剂。 报告指出，投资银行业务费用为 18.4 亿美元，与市场普遍预期相符，但并未像高盛 (GS) 和摩根大通 (JPM) 那样出现“超预期”的情况。咨询、股票资本市场和债券资本市场业务的收入均与预期一致。 瑞银在周三的一份报告中指出，美国银行第一季度拨备前净收入超出预期4%，虽然可能不如花旗集团(C)、摩根大通和高盛那样引人注目，但对于一家估值相对合理的公司而言，这一业绩仍然意义重大。尤其值得一提的是，该公司支出符合预期，且同比运营杠杆率提高了290个基点。 瑞银表示，该行的业绩指引“对股价表现至关重要”。 瑞银维持对美国银行的“买入”评级，目标价为62美元。

Price: $53.75, Change: $-0.57, Percent Change: -1.05%

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