More big second quarter earnings reports are due on Wednesday. PNC Financial Services (NYSE:PNC), Piper Jaffray Companies (NYSE:PJC), SEI Investments Company (NASDAQ:SEIC), U.S. Bancorp (NYSE:USB) and SLM Corp (NASDAQ:SLM) are all scheduled to report.
PNC Financial Services (NYSE:PNC)
A consensus of analysts polled by Bloomberg Businessweek indicates that the bank will likely report earnings of $1.62 per share on revenue of $3.9 billion for the second quarter of the year. Full-year earnings are expected to be $6.60 per share on full-year revenue of $15.8 billion.
Shares of PNC Financial Services (NYSE:PNC) have risen more than 30 percent so far year to date. After the first three months of the year, the bank’s profits had risen 25.8 percent to $1 billion. It also boosted its quarterly dividend by 10 percent. Four of the bank’s last five quarterly earnings reports were positive surprises.
Piper Jaffray Companies (NYSE:PJC)
Consensus estimates for Piper Jaffray Companies (NYSE:PJC) indicate that the firm is expected to report earnings of 55 cents per share on revenue of $124 million. Full-year earnings per share are expected to be $2.53 per share on full-year revenue of $493 million. All five of the firm’s last quarterly earnings reports have been positive surprises.
Last month we noted that shares of Piper Jaffray Companies (NYSE:PJC) were trading lower than the net value of the firm’s assets. The company’s profits surged in the first quarter of the year, climbing from $2.9 million at the end of the first quarter last year to $10.1 million at the end of the first quarter this year.
SEI Investments Company (NASDAQ:SEIC)
A consensus of analysts polled by Bloomberg Businessweek indicates that SEI Investments Company (NASDAQ:SEIC) is expected to report second-quarter earnings of 34 cents per share on revenue of $275 million. The firm’s full-year earnings are expected to be $1.40 per share on full-year revenue of $1.1 billion.
In the first quarter of the year, SEI Investments Company (NASDAQ:SEIC)’s report was in line with consensus, but in the four reports prior, the company missed the expectations of analysts.
U.S. Bancorp (NYSE:USB)
For the second quarter of the year, analysts are expecting U.S. Bancorp (NYSE:USB) to report earnings of 76 per share on revenue of $5 billion. Full-year earnings per share are expected to be $3.04 per share on full-year revenue of $20 billion. The bank’s first-quarter report was in line with consensus, while the four reports prior were slightly ahead of expectations.
The bank announced last month that it and its non-bank partner Dealers’ Financial Services will refund about $6.5 million to settle claims made by the Consumer Financial Protection Bureau and brought on behalf of military service members. The organization claimed that U.S. Bancorp (NYSE:USB) and its partner did not disclose allotment fees or timing for allotment payments.
SLM Corp (NASDAQ:SLM)
Consensus estimates for SLM Corp (NASDAQ:SLM) indicate that analysts are looking for earnings of 84 cents per share on revenue of $680 million for the second quarter of the year. The company’s first quarter report was slightly ahead of consensus, although it missed analyst expectations in the second quarter of last year.
