Bank Stock Roundup: JPM, BofA, WFC & C Impress In Q1 Earnings
Zacks Investment Research | Apr 19, 2018 09:56PM ET
Most banks that reported first-quarter 2018 results this week managed to record bottom-line improvement on the back of rising rates, lower taxes and improved trading activities. This also led to positive price movement for most bank stocks over the last five trading days.
In addition to the benefits from higher interest rates, banks’ results mirrored a marginal upswing in loans. Moreover, the results show eased margin pressure.
Importantly, high volatility led to improved trading activities in the quarter, leading to higher trading revenues for banks.
However, mortgage banking business was disappointing. Also, an overall rise in non-interest expenses owing to high spending on technology and personnel, and other market development initiatives was an undermining factor. Nevertheless, legal expenses remained under control.
(Read: Zacks Investment Research
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