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Zacks News
Muted Loan Growth to Mar Truist Financial (TFC) Q3 Earnings
by Zacks Equity Research
Truist Financial (TFC) is expected to have witnessed a decline in interest income in the third quarter because of muted loan growth as well as low interest rates.
Increased Client Activity to Aid Schwab (SCHW) Q3 Earnings
by Zacks Equity Research
While Schwab's (SCHW) trading revenues are likely to have improved in Q3 on rise in client activity amid higher market volatility, interest revenues are not expected to have improved much.
Fee Income to Support BofA (BAC) Q3 Earnings Amid Low Rates
by Zacks Equity Research
Fee income sources including trading, investment banking and consumer fees are expected to have supported BofA's (BAC) Q3 results. However, low interest rates and mute loan demand might have hurt it.
Bank Stock Roundup: Citi Faces Penalty, BofA & Wells Fargo Restructure Business
by Swayta Shah
Improving oversight related to risk management process and business restructuring initiatives will support major bank stocks, going forward.
BNY Mellon Expands in Saudi Arabia, Partners With NCB Capital
by Zacks Equity Research
BNY Mellon (BK) partners with Saudi Arabia's largest asset manager, NCB Capital, to promote its global custody and asset-servicing activities for institutional investors in the region.
Westpac to Pay Penalty to AUSTRAC for Compliance Failure
by Zacks Equity Research
Westpac's (WBK) fine marks the largest ever civil penalty in Australia's history.
Stock Market News for Sep 22, 2020
by Zacks Equity Research
Concerns about spike in coronavirus cases raised possibilities of new lockdown measures in Europe, and a lack of progress towards another round of fiscal stimulus in America led to sharp sell-off on Monday.
Bank Stocks Down as Probe Shows Large Scale Money Laundering
by Swayta Shah
The report revealing rampant money laundering shows that efforts taken by banks to fight such activities are still not enough. The disclosure hurt the banks' reputation to an extent.
Northwest Bancshares to Boost Branch Efficiency, Save Costs
by Zacks Equity Research
Northwest Bancshares (NWBI) intends to enhance branch efficiency technology upgrades. These efforts will lead to cost savings.
Low Rates, Coronavirus Mar Major Regional Bank Stock Outlook
by Swayta Shah
Near-zero interest rates, worsening asset quality and coronavirus-induced economic slowdown are likely to continue hampering major regional banks' financials in the next few quarters.
M&T Bank (MTB) Q2 Earnings Miss Estimates, Provisions Up
by Zacks Equity Research
M&T Bank's (MTB) Q2 results reflect escalating provisions and lower revenues amid the coronavirus crisis, partly offset by lower expenses.
Northern Trust (NTRS) Q2 Earnings Beat Estimates, Provisions Up
by Zacks Equity Research
Northern Trust's (NTRS) Q2 results reflect higher fee income, partly muted by fall in net interest income, escalating expenses and provisions amid the coronavirus crisis.
State Street (STT) Q2 Earnings Beat on Fee Income Growth
by Zacks Equity Research
A rise in fee income and cost-saving efforts support State Street's (STT) Q2 earnings amid lower rates and coronavirus-related concerns.
BNY Mellon (BK) Q2 Earnings & Revenues Beat, Provisions Jump
by Zacks Equity Research
Rise in fee income and higher assets balance support BNY Mellon's (BK) Q2 results amid lower rates and rising provisions.
BNY Mellon (BK) Beats on Q2 Earnings as Revenues Improve
by Zacks Equity Research
BNY Mellon's Q2 results reflect higher revenues and assets growth, while lower rates hurt.
Low Interest Rates to Mar Truist Financial (TFC) Q2 Earnings
by Zacks Equity Research
Near-zero interest rates and a substantial rise in provisions are likely to hurt Truist Financial's (TFC) Q2 results.
Trading, Underwriting Businesses to Aid BofA (BAC) Q2 Earnings
by Zacks Equity Research
A substantial rise in trading and underwriting activities is likely to support BofA's (BAC) Q2 results. Lower interest rates and significantly higher credit cost may have been headwinds.
Should You Buy BNY Mellon (BK) Ahead of Earnings?
by Zacks Equity Research
BNY Mellon (BK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Mortgage Banking to Support U.S. Bancorp's (USB) Q2 Earnings
by Zacks Equity Research
U.S. Bancorp's (USB) Q2 results are likely to reflect higher mortgage banking revenues, muted interest income and increased expenses.
What's in the Cards for PNC Financial (PNC) in Q2 Earnings?
by Zacks Equity Research
PNC Financial's (PNC) cost-control efforts and benefits from strong equity markets are likely to have been offset by lower interest rates in the second quarter.
Trading, Underwriting Business to Aid Goldman (GS) Q2 Earnings
by Zacks Equity Research
While a substantial rise in trading activities and solid underwriting business will likely reflect on Goldman's (GS) Q2 results, lower rates and reduced consumer banking activities may have been woes.
Growth in Assets to Support BNY Mellon's (BK) Q2 Earnings
by Zacks Equity Research
Rise in asset balances are expected to have aided BNY Mellon's (BK) performance fee in second-quarter 2020. Lower interest rates are likely to have hurt net interest revenues.
Trading, Mortgage Banking to Aid JPMorgan (JPM) Q2 Earnings
by Zacks Equity Research
A substantial rise in trading & refinancing activities, and solid underwriting business are likely to reflect on JPMorgan's (JPM) Q2 results. Lower rates and a rise in credit cost may have been woes.
State Street (STT) and FNZ to Offer Wealth Manager Servicing
by Zacks Equity Research
State Street's (STT) partnership with FNZ Group is likely to support its revenues in the quarters ahead.
BNY Mellon & Deutsche Bank Jointly Develop Digital FX Solution
by Zacks Equity Research
BNY Mellon (BK) and Deutsche Bank's (DB) alliance to develop a digital FX solution will likely reduce the transaction times in trading of emerging market restricted currencies.