Market Reaction To Bank Earnings Is Mixed, JPMorgan Analysts Project Further Decline In Net Interest Income
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 …
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