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Summary
In 2023, turbulence within the banking sector caused stock market concerns and heightened scrutiny regarding dividend growth, driven by balance sheet challenges and speculation surrounding rate cuts.
Approximately 105 banks are expected to maintain stable dividend payouts this year. Despite these factors we expect a 5.6% growth in banking sector dividends for 2024, aggregating to $57.6 billion in the US market.
Join us as we delve into these factors and their implications further by discussing on:
- US market banks dividend dynamics in 2024
- Commercial real estate, deposit fight and unrealized loss issues impact on banking industry
- Will rate cut expectations can turn around the banks balance sheet by end of this year?
- M&A’s and its impact on dividends
- Credit ratings outlook for the sector in 2024 and beyond?
Moderator
Juan Pablo Albornoz
S&P Global Market Intelligence
Dividend Research Analyst
Juan Pablo Albornoz is a Dividend Research Analyst at S&P Global Market Intelligence.
Juan Pablo is responsible for dividend forecasting in the Americas region. He focuses on Technology, Media & Entertainment, and Telecommunications (TMT) companies, covering forecasts for top payers such as Apple, Microsoft, Nvidia, Meta, IBM, AT&T, Verizon, among others. Juan Pablo is part of the Global Research committee within the Dividend Forecasting Team.
The Dividend Forecasting product helps financial institutions price stocks & ETF derivatives by delivering precise forecasts of the size and timing of dividend payments based on company and ETF research, market announcements, and unique quantitative insight.
Juan Pablo holds a bachelor's degree in economics from the University of Buenos Aires (UBA), Argentina. Before joining S&P, he worked as an economic consultant in Argentina, handling macroeconomic research, forecasting, business advisory, and engaging with the local press.
Speaker
S&P Global Market Intelligence
Nathan Stovall
Head of FIG Research
Nathan Stovall, with 17 years' experience covering the banking sector, is a principal analyst for the FIG Research offering of S&P Global Market Intelligence. His primary responsibilities include covering and analyzing financial institutions, with a focus on the banking industry.
He is the author of the banking blog, Street Talk, and host of the podcast by the same name. His in-depth analysis of the banking industry, including a focus on community banks, can be found on SPGMI's Research & Analysis feature, which includes historical and forward-looking performance figures.
During his tenure, he has regularly covered and participated on the conference circuit, moderating panels and webinars focused on major issues facing banks. He has spoken as industry events as well, offering updates on bank fundamentals, market conditions and forecasts for what lies ahead. He has been quoted in a number of trade publications and the national press, including The Wall Street Journal, The New York Times, The Financial Times and has appeared on Fox Business News and NPR's Planet Money.
Nathan holds a Bachelor of Arts degrees from Washington & Lee University, where he majored in business journalism
Brendan Browne
S&P Global Ratings
Senior Director & Sector Lead
Brendan Browne, CFA is a managing director on S&P’s North American Financial Institutions Ratings Team.
As a sector lead on the team, he covers some of the largest U.S. financial institutions, including global systemically important banks and nonbank financial institutions. He also conducts research on and writes about developments in the bank and nonbank financial institutions industries.
He joined S&P in 2010 and has covered a range of large and regional banks, broker-dealers, and finance companies. Brendan previously worked for four years as an analyst at Endurance Capital, a private equity fund that invested in community banks.
He holds an M.A. in Applied Economics from Miami University and a B.A. from the University of Notre Dame.
S&P Global Market Intelligence
Vedant Bagri, CFA
S&P Global Market Intelligence
US Market Research Analyst
Vedant Bagri is a Dividend Research Analyst at S&P Global Market Intelligence
Vedant Bagri is a Dividend Research Analyst at S&P Global Market Intelligence
Vedant is responsible for dividend forecasting in the American region, focusing on specialized sectors such as Banks & Financial Services, and Real Estate Investment Trusts (REITs). He is a global research team member with a focus on banking and financial institutions. His research focuses on the balance banks have to strike between capital return to shareholders, meeting regulatory requirements, and exploring how these financial entities strategically expand their operations across regional, national, and global landscapes, adding another dimension to his research insights.
Before joining S&P, he worked as a Derivative trader & Analyst where he traded in index F&O, maintained Delta hedging, and was part of the market makers team. His responsibilities included actively taking derivative strategies to capitalize on market trends in proprietary accounts, maintaining optimal portfolio risk exposure, and maintaining liquidity and pricing of options.
Vedant is a CFA charter holder and also a member of the CFA Society of India. He also holds a Bachelor's degree in Commerce.
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