Big banks begin earnings season this week as analysts’ estimates are down 16% in the past six months. Analysts have been concerned about loan volumes and a sluggish environment for deal making that is weighing on revenue. Comments from bank CEOs could ease some of the pessimism.
• The SPDR S&P Bank exchange-traded fund is down 19% for the year so far, compared with the 14% gain in the S&P 500 and a 31% gain in the tech-heavy Nasdaq. Bank stocks have been beaten down after three large bank failures in the spring.
• JPMorgan Chase is expected to report earnings per share of $3.96 on revenue of $39 billion. Revenue from its consumer division is expected to rise nearly 50% from last year’s second quarter, which could help to offset weakness in investment banking activity.
• Citigroup is expected to report earnings per share of $1.37 on revenue of $19 billion, and it is also expected to report a drop in investment banking revenue from the first quarter as the deal slump continued, according to FactSet.
• Wells Fargo is expected to report earnings per share of $1.18 on revenue of $20 billion. The San Francisco lender announced plans to raise its dividend by 17% starting in the third quarter, to 35 cents a share.
What’s Next: The financial sector is expected to report revenue growth of nearly 8% for the second quarter from last year, the highest growth rate of all 11 S&P sectors, according to FactSet Earnings Insight. Banks are expected to report revenue growth of 14%.
[link] [comments] https://www.reddit.com/r/stocks/comments/14w4pl7/banks_kick_off_earnings_season_with_lower/
Войдите, чтобы добавить комментарий
Другие сообщения в этой группе
Please use this thread to discuss your portfolio, learn of other stock tickers, and help out users by giving constructive criticism.
Why quarterly? Public comp
When you sell a stock to buy another stock, do you prefer to set the estimated amount of the capital gains taxes aside in a money market or do you think it better to
Saving for retirement is crucial, but relying solely on a 401(k) might not be enough due to high inflation. Consider investing in growth stocks, especially in the tec
I’m think this is not a good investment as there is no chatter at all on the 52 week low. They are involved in a class action lawsuits by investors and credit card co
Sorry if this is the wrong sub. Let’s say I had $1 million in VOO but I wanted to sell half of it to buy SCHD. It would suck to pay taxes on $500k. So how would you g
Hey guys, I did a deep dive into Crocs. In this analysis, I will do a brief breakdown of the company and go over some quantitative data, qualitative data and estimate
