For more earnings forecasts, see Peter Cohan's Earnings expectations for 10 banks tell a mixed story.
Thomson Financial expects Wilmington Trust (NYSE: WL) to earn $0.65 when it announces its fourth-quarter results on January 18th. That's down 7% from the same period in 2006, when it earned $0.70.
Wilmington Trust is a Wilmington, DE-based bank that has four segments: Regional Banking, Wealth Advisory Services, Corporate Client Services, and Affiliate Money Managers. In the last year, its revenues were $726 million and its net income totaled $186 million. Its stock has fallen 27% in the last year and it trades at a P/E of 11.4.
It has a mixed record when it comes to meeting estimates. In the second quarter of 2007, Wilmington Trust beat the consensus estimate by 4.4%, but in the third quarter it missed by 9.9%. My hunch is that this quarter, Wilmington Trust will miss expectations.
Peter Cohan is president of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in Wilmington Trust securities.
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