Bank Stock Roundup: Q4 Earnings In Full Swing, SunTrust, Fifth Third Beat Estimates
Zacks Investment Research | Jan 24, 2019 08:55PM ET
Over the last four trading days, performance of major banks was disappointing. While the banks reported decent fourth-quarter results amid a tough operating backdrop, management commentary pertaining to this year’s performance seems to have not met investors’ expectations.
Looking at the major banks’ financial performance in the fourth quarter, most of the banks witnessed an increase in revenues, mostly driven by loan growth and higher interest rates. Also, improving asset quality rendered support.
Further, non-interest expenses remained manageable despite banks’ efforts to digitize operations and improve market share. Nevertheless, investment banking business underperformed, impacted by disappointing underwriting business, partly muted by strong financial advisory revenues. Also, mortgage banking business was disappointing.
(Read: Zacks Investment Research
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