Stocks to Watch: Stocks to watch: Citi headlines Monday earnings

By Sue Chang, MarketWatch

SAN FRANCISCO (MarketWatch) — Citigroup Inc., one of the largest banks in the world, will release quarterly results early Monday, providing investors with more clues on how the U.S. banking industry is faring.

Citi /quotes/zigman/5065548/quotes/nls/c C -0.20% is projected to report first-quarter earnings of $ 1.18 a share, according to a consensus survey by FactSet.

Week ahead: Banks, techs in focus

Big banks and tech bellwethers will be in the spotlight when they report earnings next week.

Analysts at Sandler O’Neill Research on Thursday lowered Citi’s earnings outlook to $ 1.28 a share from $ 1.51 a share. “Our estimate reduction is primarily driven by reduced interest rate trading revenue expectations (a relatively large business for C), delaying the commencement of mortgage related reserve releases until 2Q13, and more persistent legal costs,” the analysts said in a note.

Charles Schwab Corp. /quotes/zigman/240465/quotes/nls/schw SCHW -1.48% is forecast to post first-quarter earnings of 16 cents a share.

“We reflect a 9% annualized organic growth rate for the quarter and $ 30 [million] in incremental expenses,” Kenneth Worthington, an analyst at J.P. Morgan, said in a report earlier this week. Worthington rates the stock at neutral with a price target of $ 14.

M&T Bank Corp. /quotes/zigman/220191/quotes/nls/mtb MTB -4.46% is likely to report earnings of $ 1.96 a share in the first quarter. The bank holding company said Friday that its merger with Hudson City Bancorp Inc. /quotes/zigman/65801/quotes/nls/hcbk HCBK -5.47% is expected to be delayed after the Federal Reserve expressed concerns about its anti-money-laundering compliance program.

/quotes/zigman/5065548/quotes/nls/c

US : U.S.: NYSE

Volume: 24.49M

April 12, 2013 4:00p

Market Cap

$ 136.22 billion

Rev. per Employee

$ 374,309

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/quotes/zigman/240465/quotes/nls/schw

US : U.S.: NYSE

Volume: 8.15M

April 12, 2013 4:02p

Market Cap

$ 22.11 billion

Rev. per Employee

$ 368,188

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/quotes/zigman/220191/quotes/nls/mtb

US : U.S.: NYSE

Volume: 2.47M

April 12, 2013 4:01p

Market Cap

$ 12.90 billion

Rev. per Employee

$ 324,538

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/quotes/zigman/65801/quotes/nls/hcbk

US : U.S.: Nasdaq

Volume: 15.62M

April 12, 2013 4:00p

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Follow Sue Chang on Twitter at @SueChangMW.


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