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Q3 Saw Some Stabilization In Estimate Revisions For Banks

As we head into the third-quarter earnings season for financials, there’s no denying it’s been quite “noisy,” from the Wells Fargo (WFC) cross selling scandal to worries about Deutsche Bank’s (DB) solvency. Keefe, Bruyette & Woods’s Frederick Cannon and Allyson Boyd found that estimate revisions have been more negative this year as a whole for financials than the broader market, which helps a bit to explain their underperformance.
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