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StanCorp Financial Group Inc.’s ( SFG ) third quarter earnings of $1.21 per share were just a penny ahead of the Zacks Consensus Estimate of $1.20 per share. The company had earned $1.46 per share in the year-ago quarter. High unemployment rate and rising joblessness continue to impact the company’s earnings. Quarterly results reflect higher-than-expected claims activity and reduced premiums in the group insurance business. However, the company benefited from the expense reduction initiatives

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Random Feed wrote an interesting post today on
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SunTrust Bank ( STI ) posted a loss of $377.1 million or 76 cents per share, wider than the Zacks Consensus Estimate loss of 63 cents per share. This was compared to a net income of $304.4 million or 87 cents per share in the third quarter of 2008. The decline in earnings was attributable to the $390.8 million after-tax increase in the provision for loan losses and a $292.8 million after-tax increase in valuation losses associated with the fair value of SunTrust’s public debt. Net loss for th

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Huntington Bancshares Incorporated ( HBAN ) reported third quarter 2009 net loss applicable to common shareholders of $166.2 million or 33 cents per share, compared to a net loss of $125.1 million or 40 cents per share in the prior quarter and a net income of $75.1 million or 17 cents per share in the prior-year quarter. Results were short of the Zacks Consensus Estimated loss of 28 cents. Higher losses were attributable to $475.1 million in provisions for credit loss expense and higher share

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KeyCorp’s ( KEY ) third quarter loss from continuing operations of 50 cents per share was substantially worse than the Zacks Consensus Estimated loss of 39 cents. This compares unfavorably to a net loss from continuing operations of 2 cents in the prior-year quarter. Results were primarily hurt by an increase in the provision for loan losses, write-downs of certain real estate-related investments, higher costs associated with other real estate-owned (OREO) assets and the write-off of certain

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US Bancorp ( USB ) has reported third quarter earnings of $603 million or 30 cents per share. Results were ahead of the Zacks Consensus Estimate of 26 cents, and reflected higher revenue and an increase in fee income. However, credit losses and nonperforming assets continued to trend higher in the quarter, reflecting continued stress in the commercial, commercial real estate, residential real estate and consumer loan portfolios. We note that the rate of deterioration has somewhat moderated in

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