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BAC’s Balance Sheet Expanded with Strong Credit Quality
Bank of America’s (BAC) total assets grew ~2.4% year-over-year in the third quarter and reached ~$2.34 trillion.
Bank of America’s Operating Efficiency Improved in Q3
Bank of America reported third-quarter non-interest expenses of $13.1 billion.
Higher Interest Rates Drove BAC’s Consumer Banking Revenues in Q3
In the third quarter, Bank of America’s (BAC) Consumer Banking segment’s revenues increased 7.0% YoY to $9.4 billion.
Bank of America’s Q3 Revenues Surpassed Wall Street Estimates
Bank of America (BAC) reported third-quarter revenues of $22.8 billion, surpassing Wall Street’s forecast of $22.7 billion.
What Drove Bank of America’s Q3 Profits to Jump 37% YoY?
Bank of America posted Q3 EPS of $0.67 on October 15, beating the estimate of $0.62 and marking ten straight quarters of earnings beats.
Goldman’s Q3 Earnings Soar on Higher Underwriting, Equity Trading
Goldman Sachs stock was up ~2% in the October 16 premarket trading session after the bank reported its third-quarter earnings results.
What Drove Morgan Stanley’s Third-Quarter Earnings?
On October 16, Morgan Stanley (MS) shares were trading ~2% higher during the pre-market trading session.
Where Does Citigroup Stand among Peers after Q3 Earnings?
As of October 15, of the 29 analysts covering Citi stock, 21 have given it “strong buy” or “buy” recommendations, seven have given it “hold” recommendations, and one has given it a “sell” recommendation.
Citigroup’s Efficiency Ratio Improved in Q3 on Controlled Spending
Citigroup’s (C) efficiency ratio has improved in the past few quarters and is currently hovering around 56% compared to 59% at the beginning of 2017.
Citigroup’s Core Banking Business Continued to Support Top Line
Citigroup’s (C) Global Consumer Banking (or GCB) segment’s revenue rose 2% YoY (year-over-year) to $8.7 billion.
Citigroup’s Q3 Revenues Fell Short of Wall Street Estimates
Citigroup’s (C) total revenues of $18.4 billion fell short of analysts’ estimate of $18.5 billion.
What Drove Citigroup’s Third-Quarter Earnings?
On October 12, Citigroup (C) reported better-than-expected bottom-line results for the third quarter of 2018.
Where JPMorgan Chase Stands among Its Peers
Analysts are bullish on JPMorgan Chase (JPM). They expect decent growth in JPMorgan Chase’s stock price from the current level.
What Hurt JPMorgan Chase’s CIB Segment?
JPMorgan Chase’s (JPM) CIB segment reported lackluster results in the third quarter due to weak trading activities for fixed-income assets.
JPMorgan Chase Reported Strong Growth in Core Banking
JPMorgan Chase’s Consumer and Community Banking segment has risen at a relatively faster pace due to higher interest rate spreads.
JPMorgan Chase’s 3Q Revenues Beat the Estimates
JPMorgan Chase’s (JPM) third-quarter revenues of $27.82 billion beat analysts’ estimate of $27.5 billion and improved 5.2% YoY.
JPMorgan Chase’s 3Q Earnings Crushed Analysts’ Estimates
JPMorgan Chase’s third-quarter EPS of $2.34 beat analysts’ estimate of $2.25. The EPS increased ~33% on a YoY basis and 2.2% sequentially.
Loan Growth, Low Costs, Lower Tax Drove Bank of America’s Q3 2018
On October 15, Bank of America (BAC) reported overwhelmingly positive third-quarter results.
Citigroup’s Q3 Earnings Rose on Higher Spread and Lower Tax Rate
Citigroup (C) continued its strong earnings streak with better-than-expected bottom-line results for the third quarter of 2018.
Higher Interest Rates Boost JPMorgan’s Q3 Earnings: Stock Rises
JPMorgan Chase (JPM) stock was 1.5% higher in pre-market trading today after it kicked off its third-quarter earnings on a strong note.
What to Expect from Morgan Stanley’s Third-Quarter Earnings
Morgan Stanley (MS) is scheduled to report its third-quarter earnings on October 16. Analysts expect the bank to post an EPS of $1.02.
Analysts Project a Double-Digit Surge in Goldman Sachs’s Shares
Analysts are bullish about Goldman Sachs (GS) and foresee stock price growth in the mid-twenties from its current level.
What Makes Goldman Sachs a Valuable Investing Option?
So far, this year hasn’t been going well for the banking sector, as the majority of US banks have tumbled YTD (year-to-date).
Private Equities to Drive This Segment’s Revenue Growth in Q3
Goldman Sachs’s Investing and Lending segment has continuously reported significant YoY (year-over-year) revenue growth in the past few quarters.
Will Goldman Sachs Keep the Earnings Streak Alive in Q3 2018?
Goldman Sachs will report its third-quarter results on October 16. The investment bank has an impressive record of beating estimates.
Wall Street Remains Bullish on Bank of America Stock
Analysts are bullish about Bank of America (BAC) and project mid-teen growth in its stock price from the current level.
Is Bank of America an Attractive Pick Right Now?
The majority of the US banks stocks have tumbled in the year-to-date (or YTD) period.
Sluggish Mortgage Market to Impact BAC’s Consumer Credit Growth
For the last few months, the US mortgage market has faced a slowdown due to the Federal Reserve’s hawkish monetary policy.
Technology Investments Could Boost BAC’s Operating Efficiency
Bank of America’s non-interest spending fell 5% to $13.3 billion in the second quarter, giving it an efficiency ratio of 58.36%.
Bank of America’s Trading Income Likely to Decline Sequentially
After a robust performance in the first quarter of 2018, US banks have witnessed weaker equity trading activity, which has hurt their trading income.
Consumer Banking to Drive Bank of America’s Third-Quarter Results
Consumer Banking is Bank of America’s (BAC) largest segment and contributes ~40% to its total revenues.
What to Expect from Bank of America’s Third-Quarter Earnings
Bank of America (BAC) plans to report its third-quarter results on October 15.
Wall Street Remains Bullish on Citigroup Stock
Analysts are bullish about Citigroup (C) and foresee mid-teen growth in its stock price from its current level.
What Makes Citigroup a Valuable Option among Its Peers?
The entire banking industry tumbled in the first half of 2018, with Citigroup among the worst performers in the industry, losing ~10% of its value in the period.
Slowdown in US Mortgage Market Could Affect Citi’s Q3 Results
For the past few months, the US mortgage market has been facing a slowdown due to the Federal Reserve’s hawkish monetary policy.
Will Global Consumer Banking Continue to Support Citi’s Revenue?
Citigroup is looking at areas outside the United States to expand its lending book, add credit card business, and add new assets under management.
Will Citigroup’s Operating Efficiency Continue to Improve in Q3?
Recently, banks (XLF) have benefited from rising rates amid strong balance sheets.
Can Citigroup Keep the Earnings Streak Alive in Q3 2018?
Citigroup (C) is scheduled to report its third-quarter earnings results on October 12.
Where Wells Fargo Stands among Its Peers
Currently, Wells Fargo (WFC) trades at a PBV multiple of 1.39x, which is a significant premium to the industry average of ~1.48x.
Litigation and Probes Could Impact Wells Fargo’s Q3 Results
Continuous investigations and litigations are hurting Wells Fargo’s (WFC) bottom-line results.
Can Wells Fargo’s Operating Efficiency Keep Improving in Q3?
Wells Fargo (WFC) is investing heavily in technology to command a higher market share in core banking solutions, trading activity, and asset management.
Wells Fargo’s Loan Growth, Interest Rates, Property Prices
The US mortgage market is facing a slowdown, with mortgage rates increasing due to the Fed’s hawkish monetary policy.
Credit Offtake Could Be Subdued for Wells Fargo in Third Quarter
Structured debt and corporate lending growth have fallen in recent quarters due to lower tax rates and the Fed’s hawkish monetary policies.
What’s in Store for Wells Fargo This Earnings Season?
Wells Fargo (WFC) is scheduled to report its third-quarter results on October 12. It’s expected to post EPS of $1.17, implying a growth of 12.5% YoY.
Where JPMorgan Chase Stands among Its Peers
Currently, JPMorgan Chase (JPM) is trading at a PBV multiple of 1.65x, a significant premium to the industry average of ~1.48x.
Higher Property Prices to Negatively Affect Credit Offtake
In its monthly report, the NAR (National Association of Realtors) revealed that existing home sales were unchanged in August.