XLF - Market Reaction To Bank Earnings Is Mixed JPMorgan Analysts Project Further Decline In Net Interest Income | Benzinga
As the U.S. financial sector grapples with recent earnings releases, investor reactions have been mixed.
Some stocks are witnessing declines. Others are posting gains. See below.
Banks Q1 Earnings Reports And Market Reactions, So Far
Company Ticker Mkt Cap ($ mn) Price ($) Rating JPMorgan Price Target End Date Q1 Earnings Date EPS Revenue Stock Reaction (since earnings) as of April 18, 2:40 PM ET
Citigroup Inc. C 119,590.80 62.84 N 64 Dec-24 Apr 12 Beat Beat -4.46%
Wells Fargo WFC 206,396.90 57.35 N 59 Dec-24 Apr 12 Beat Beat -0.11%
Bank of America BAC 294,502.20 37.3 OW 39.5 Dec-24 Apr 16 Beat Beat 2.43%
PNC Financial PNC 63,173.54 157.54 OW 163.5 Dec-24 Apr 16 Beat Miss -0.79%
Citizens Financial Group CFG 16,343.29 35.04 N 36.5 Dec-24 Apr 17 Beat Miss 2.76%
U.S. Bancorp USB 67,352.34 43.23 OW 45 Dec-24 Apr 17 Beat Miss -3%
Fifth Third Bancorp FITB 24,506.88 35.98 N 37.5 Dec-24 Apr 19
Regions Financial RF 18,812.64 20.36 N 21 Dec-24 Apr 19
Truist Financial Corp TFC 50,535.52 37.89 N 39.5 Dec-24 Apr 22
Citigroup Inc (NYSE:C) and Wells Fargo (NYSE:WFC) reported earnings on April 12. Both firms beat EPS and revenue estimates.
Citi stock is down 4.46% while Wells Fargo’s stock is down 0.11% since April 12.
Bank of America (NYSE:BAC) reported a beat on both metrics; PNC Financial (NYSE:PNC) fell short of consensus estimates on revenue. BAC stock is up 2.43% since then, but PNC is down 0.79%.
Then there’s Citizens Financial Group (NYSE:CFG). The firm reported a beat on EPS but a miss on revenue on Wednesday. Citizens stock was trading up 2.76% during day trading on Wednesday by 2.40 ...