Big Three Banks All Miss Estimates for First Time since 2011

Thanks to all three big banks missing their earnings estimates for the first time since Q42011, the financial sector will most likely report actual earnings below analysts’ expectations, both at the start of the quarter and at the end of the quarter, for the fourth time in the past four years, reports FactSet. Tracking reported earnings to date for Q4 2014, John Butters, senior earnings analyst at FactSet, in a research report dated Jan. 16, points out that blended earnings growth has dropped thanks to downside surprises in the financial sector. Banks report largest downside aggregate differences According to the FactSet report,…