The Zacks Analyst Blog Highlights: U.S. Bancorp, Citigroup, Bank Of America, Wells Fargo And PNC Financial Services Group
Zacks Investment Research | Jul 24, 2016 09:30PM ET
For Immediate Release
Chicago, IL – July 25, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include U.S. Bancorp (PNC ).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free .
Here are highlights from Friday’s Analyst Blog:
Bank Stock Roundup
In spite of the tough industry backdrop and rising provisions due to energy sector lending, most of the banks that reported second-quarter 2016 results this week managed to beat estimates with their cost-control measures and top-line strength. This also led to positive price movement for most stocks.
Further, the results demonstrated an upswing in loans driven by a rise in commercial loan demand, which ultimately boosted net interest income. Additionally, the rise in deposit balances helped drive organic growth at the banks.
However, an overall rise in non-interest expenses owing to high spending on technology and other market development initiatives was an undermining factor. Moreover, the low-rate environment adversely impacted net interest margins for most of the banks. Nevertheless, the absence of exceptionally high legal expenses helped banks outpace the Zacks Consensus Estimate.
BANKS-MAJOR REGIONAL Industry Price Index
(Read: Bank Stock Roundup for the week ending Jul 15, 2016 ) Important Earnings of the Week
1. U.S. Bancorp ( U.S. Bancorp Beats Q2 Earnings on High Revenues ).
2. Driven by a decline in operating expenses, Citigroup Inc. ( Citi Tops Q2 Earnings on Low Costs, Trading Revenues Up ).
3. Higher provisions and a decline in revenues resulted in a 16% year-over-year drop in Bank of America Corporation’s ( BofA Q2 Earnings Slide on Higher Provisions ).
4. Impacted by higher expenses, Wells Fargo & Company’s ( Wells Fargo Q2 Earnings Miss Estimate, Expenses Up ).
Get The News You Want
5. The PNC Financial Services Group, Inc.’s ( PNC Financial Tops Q2 Earnings, Provisions High ).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free .
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today .
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros .
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.