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Zacks News
Truist Financial, formed following the ‘merger of equals’ deal between BB&T Corp and SunTrust Banks, is the sixth largest bank in the United States. The company — headquartered in Charlotte, NC — conducts business operations primarily through its bank subsidiary, Truist Bank, and few other non-bank subsidiaries. Truist Bank — through more than 2,880 banking offices and 4,237 automated telling machines (ATMs) — offers a variety of services to consumer and commercial clients.
Citigroup (C) Q4 Earnings Top Estimates on Reserve Releases
by Zacks Equity Research
Citigroup (C) Q4 earnings up year on year on reserve releases, market revenue rise and solid equity underwriting business, muted by low debt underwriting and advisory revenues, and high expenses.
JPMorgan (JPM) Q4 Earnings Beat on Reserve Release, Fee Income
by Zacks Equity Research
Improvement in fee income components - trading, investment banking and mortgage - along with reserve releases supports JPMorgan's (JPM) Q4 earnings amid low rates and weak loan demand.
State Street (STT) to Report Q4 Earnings: What's in Store?
by Zacks Equity Research
While low rates are likely to have hurt State Street's (STT) Q4 earnings, fee revenues and manageable expense level might have offered some support.
Truist (TFC) Signs Deals to Sell Institutional Retirement Business
by Zacks Equity Research
Truist Financial (TFC) sells institutional 401(k) investment advisory services business to OneDigital, and signs deal to sell institutional 401(k) recordkeeping businesses to Ascensus and Empower.
Bank Stock Roundup: USB, JPM, WFC & TFC in Focus on Restructuring Initiatives
by Swayta Shah
U.S. Bancorp (USB), JPMorgan (JPM), Wells Fargo (WFC), Truist (TFC) & Fifth Third (FITB) continue with their business restructuring activities. Also, Bank OZK (OZK) announces a quarterly dividend hike.
BNY Mellon (BK) to Sell Canada Wealth Business to Guardian
by Zacks Equity Research
BNY Mellon's (BK) Canada-based wealth management business is being acquired by Guardian Capital.
Goldman (GS) Arm Signs All-Cash Deal to Buy People Corporation
by Zacks Equity Research
Merchant banking unit of Goldman Sachs (GS) agrees to buy People Corporation at a premium of 36% to the closing price on Dec 11, 2020.
Bank Stock Roundup: Upbeat Trading Outlook, Treasury Yields Decline, Citi in Focus
by Zacks Equity Research
Over the past five trading days, JPMorgan (JPM) and Citigroup (C) issued their outlooks. Wells Fargo (WFC) & Truist's (TFC) restructuring efforts continue. Capital One (COF), PNC Financial (PNC) and U.S. Bancorp (USB) witness price gains.
Truist Financial's (TFC) Insurance Subsidiary Buys Wellington
by Zacks Equity Research
Truist Insurance, the indirect subsidiary of Truist Financial (TFC) acquires Wellington.
FDIC-Insured Banks Q3 Earnings Dip, NIM Shrinks on Low Rates
by Swayta Shah
Low rates and soft loan demand hurt FDIC-insured banks' Q3 earnings. Yet, big names like JPMorgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC) and Truist Financial (TFC) get support from rise in fee income.
KeyCorp's (KEY) Q3 Earnings Beat, Revenues & Expenses Up Y/Y
by Zacks Equity Research
Higher interest income, support from fee income and lower credit costs aid KeyCorp's (KEY) Q3 results amid near-zero interest rates and economic slowdown.
State Street (STT) Q3 Earnings Beat on Fee Income, Costs Dip
by Zacks Equity Research
Increase in fee income and lower costs support State Street's (STT) Q3 earnings amid low interest rate environment.
Truist Financial (TFC) Q3 Earnings Beat, Provisions Decline
by Zacks Equity Research
Truist Financial (TFC) witnesses a fall in revenues in third-quarter 2020. Also, provisions decline from the previous quarter.
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.
JPMorgan (JPM) Q3 Earnings Top on Lower Credit Cost, Trading
by Zacks Equity Research
Surprisingly lower provisions and continued support from fee income sources aid JPMorgan's (JPM) Q3 earnings amid weak loan demand and near-zero rates.
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.
Fee Income to Aid JPMorgan (JPM) Q3 Earnings Amid Low Rates
by Zacks Equity Research
Fee income sources - trading, mortgage banking and investment banking - are expected to have aided JPMorgan's (JPM) Q3 earnings. However, low interest rates and weak loan demand might have hurt it.
Bank ETFs Surge as Yield Curve Steepens
by Sweta Killa
The banking corner of the broader financial sector is back on track this month owing to the steepening of the yield curve. Will the strong trend continue?
Here's Why You Should Hold On to Truist Financial Stock Now
by Zacks Equity Research
TFC Financial's (TFC) modest top-line growth and a robust balance-sheet position bode well amid the near-zero interest rates and economic slowdown.
Biden's Corporate Tax Plan Could Spell Trouble for Bank ETFs
by Sweta Killa
Biden proposed corporate tax hike from 21% to 28% would drop net income by more than $7 billion per year for the nation's 10 largest banks.
Four Corners Boosts Portfolio with Asset Buyout from Seritage
by Zacks Equity Research
Four Corners' (FCPT) expansion moves are part of its efforts to leverage on solid acquisition opportunities, backed by balance-sheet strength, and fuel portfolio growth.
Four Corners Unveils Outparcel Portfolio Growth With Seritage
by Zacks Equity Research
Four Corners' (FCPT) expansion moves are part of its efforts to leverage on solid acquisition opportunities, backed by balance-sheet strength, and fuel portfolio growth.
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.
Bank of Hawaii (BOH) Q2 Earnings Top Estimates, Provisions Up
by Zacks Equity Research
Though Bank of Hawaii's (BOH) Q2 results reflect solid loan and deposit growth, controlled expenses and higher revenues, rising provisions for loans and margin pressure are concerns.