Bank Stock Roundup: Q3 Earnings At Tail End - COF Tops, FITB, STI, RF In-Line
Zacks Investment Research | Oct 27, 2017 03:42AM ET
All the major banks that reported third-quarter 2017 results over the last five trading days reported bottom-line growth. This was mainly driven by a rise in revenues attributable to higher net interest income and loan growth.
Moreover, margin pressure seems to be easing. Further, the rise in deposit balances helped drive organic growth at the banks. Banks were even able to control expense rise. All these led to positive price movement for the stocks over the last five trading sessions.
However, mortgage banking continued to disappoint along with muted investment banking performance. These were the primary reasons for lower non-interest income for the banks. Also, higher credit costs remained a headwind.
(Read: Zacks Investment Research
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