Bank Stock Roundup: Q2 Earnings In Full Swing, Fifth Third Beats Estimates
Zacks Investment Research | Jul 26, 2019 08:55AM ET
Major banks which reported second-quarter 2019 results, over the last five trading days, managed to record decent bottom-line growth, driven by higher net interest income. In addition to the benefits from relatively higher interest rates, banks’ performance mirrored a marginal upswing in loans. This also led to positive price movement for most bank stocks, over the last five trading days.
However, fee income was disappointing, adversely impacted by weak capital markets. Also, an overall rise in non-interest expenses, due to high spending on technology and personnel, and other market development initiatives, was an undermining factor.
Nevertheless, banks continued with their restructuring and streamlining initiatives.
(Read: Zacks Investment Research
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