Bank Stock Roundup: Q4 Earnings Look Decent -- C, JPM, BAC Face Huge Tax Charges
Zacks Investment Research | Jan 19, 2018 02:56AM ET
Over the last four trading days, performance of banking stocks was largely bullish, with fourth-quarter earnings cheering investors. Banks were able to surpass earnings estimates along with reporting a decent overall financial performance.
While expected weakness in trading, dismal mortgage banking and rise in credit costs hampered significant improvement in earnings, higher interest rates, modest loan growth and solid investment banking lent support. Further, banks were able to manage costs well.
But what cheered investors the most was the upbeat 2018 guidance related to interest income and loan growth. Also, though banks recorded significant one-time charge related to the tax act, favorable management comments regarding the same was a tailwind.
(Read: Zacks Investment Research
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