BY Momei Qu:

Contributor, Stock Traders Daily

Real Time Trading Reports:  Included are detailed trading reports designed to help investors realize opportunities in these companies as earnings are released.  The reports are linked to the stock symbols in the article below.

(La Jolla, CA)  Mega banks have been grabbing headlines amidst the financial sector’s recovery, with news of trading profits and large projected bonus pools. But what about the middle market banks? Will they be seeing the same increases in earnings as earnings season begin this upcoming week? Overall, it seems that smaller banks have not benefited as much from fixed income and mortgage banking revenues, but are also less affected by the credit delinquencies that larger banks such as Bank of America (NYSE: BAC) and Citigroup (NYSE:C) have struggled with. Let’s take a look at four middle market banks that are scheduled to report this week.

Analysts are expecting BB&T (NYSE: BBT) to report earnings per share of $0.22 cents on revenues of $2.15 billion on Monday. Out of the middle market banks, BB&T’s financial results are the most dependent on the health of the credit market with its large real estate portfolio and concentration in construction and land development loans. Earnings will also be impacted by BB&T’s assumption of Colonial Bank (CNB) in August. The transaction, assisted by the FDIC, adds $21.8 billion in assets and will be accretive to the company. Shares of BB&T closed at $28.00 on Friday, 76% of its 52 week high of $36.60 and up over 200% from March. To find out if there is still potential profits to be made on BB&T stock, download our free BBT trading report.

Also scheduled to report earnings Monday is Jefferies Group (NYSE: JEF). Wall Street is projecting earnings of share of $0.28 on revenue of $535 million. Jefferies has benefited from a significant increase in announced M&A, with M&A backlog reaching $5.2 billion this quarter. As the M&A market is only beginning to recover, the market for small and middle market transactions is the first to thaw and deal flow has picked up more compared to multi-billion dollar transactions. Jefferies’ revenues are also supported by restructuring activity, which management say is still going strong. Fees from debt and equity underwriting are also up from last quarter. With such positive momentum, it’s no wonder that Jefferies’ stock has continued to increase over the last few months. The stock closed at $29.91 Friday, almost reaching its 52 week high of $30.64 and up over 350% since March. Will Jefferies’ stock reach new highs with this week’s earnings report? We can help you make that decision with our free JEF trading report.

Bank of New York Mellon (NYSE: BK), scheduled to announce earnings Tuesday, is projected to report earnings per share of $0.48 on revenues of $3 billion. Income from fees, which makes up for 78% of revenues, is expected to increase. Bottom line will also be improved by higher market values on assets and lower security losses. The positive news could be compromised by lackluster results from FX trading due to lower client activity and a decline in net interest revenues. BK closed at $27.74 Friday, an increase of 150% from March. Although it appears that the stock is headed towards its 52 week high of $34.78, share price has been flat since May, hovering around $28 a share. Some stocks go through a period of stagnation before taking off again. To find out if BK is one of them and how you can take advantage, download our free BK trading report.

Rounding out the first half of the week on Wednesday is Piper Jaffray (NYSE: PJC). Analysts are predicting earnings per share of $0.40, up from $1.68 from 3Q 2008. The biggest positive factor affecting earnings is the improved equity market. Piper Jaffray gets most of its revenues from security underwriting and trading, and has participated in an increased number of offerings since the equity market began to thaw. It has also taken advantage of the improved M&A market, providing middle market expertise in defensive industries such as healthcare. Piper Jaffray closed at $55.77 Friday, up about 300% since March and trading near its 52 week high of $57.80. As with each of the other companies mentioned, our free PJC trading report can help you decide if the stock still holds unrealized value and if this is the right time to invest.