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Mid-Cap Lenders Are Facing Challenges.
New York -- With the first quarter of 2006 coming toward a close, analysts at Merrill Lynch think that medium-sized banks may find it difficult to continue posting strong stock price gains.
In a recent report, the investment banking firm said that mid-cap banks will likely continue to report weakness in their business fundamentals. Moreover, Merrill Lynch believes "most banks will miss expectations" and fail to report year-over-year growth. That will put pressure on the stocks of mid-cap institutions, making it difficult for the sector to hold onto recent stock gains.
"We believe deteriorating fundamentals will eventually win out over interest rates and consolidation speculation as the primary drivers of stock price performance," Merrill Lynch analysts Heather Wolf and Stephen Austin said in their report. Overall, they expect first-quarter trends to include modest compression of interest rate margins, slowing loan and deposit growth, increases in credit costs, slowing fee revenue growth and deteriorating efficiency rates. One factor limiting fee-income growth is the ...
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Source: HighBeam Research, Mid-Cap Lenders Are Facing Challenges.