Second Consecutive Quarterly Losses For SWS Group

SWS Group, Inc. SWS has reported its second consecutive quarter of losses, coming in below estimates both from Keefe, Bruyette & Woods and consensus. Higher loan loss provision, partially offset by stronger revenues that were 6% above forecast were the driver in the decline, according to Keefe, Bruyette & Woods, and as a result 2011 EPS estimates have been lowered as well as the price target, which is now $8.50. Reported EPS was $0.01, operating EPS was $0.01, consensus estimated $0.09, and Keefe, Bruyette & Woods estimated $0.07. Market Perform rating maintained. SWS Group, Inc. closed yesterday at $7.21.