A story in Tuesday's edition, "Firstar Leading the Parade in Analyst Price Projections," erred in reporting that among large banking companies Firstar Corp. is expected to register the biggest stock price gain.
The error resulted from incorrect data supplied to American Banker.
Hibernia Corp. should have been cited as No. 1, according to analyst predictions tallied by First Call/Thomson Financial. The consensus among analysts, as reported in the story, is that Hibernia's share price will rise as high as $17.50 sometime in the next 12 months, up 38.6% from $12.62 last week.
The consensus given for Firstar, $81 a share, was not adjusted for a recent stock split, contrary to information from First Call. Adjusted for the split, the consensus shows the price declining, rather than rising-to $33 from a recent $34.23.