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
US Banks Q1 2024 Earnings
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 ...Full story available on Benzinga.com
Related tickers: KRE, XLF, FITB, BAC, C, PNC, RF, TFC, USB, WFC, CFG.
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