Bank stocks slump amid more disappointing earnings [Seeking Alpha]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Seeking Alpha
Bank stocks slump amid more disappointing earningsBank stocks wilt after disappointing earnings from Wells Fargo (WFC-2.5%) and JPMorgan (JPM-0.9%) show that Citigroup's revenue miss yesterday wasn't an outlier.Wells Fargo, struggling from a string of scandals that started in 2016, reported Q4 revenue of $21.0B, missing consensus estimate of $21.8B.JPMorgan's Q4 EPS missed by 23 cents and revenue also fell short of consensus as Markets & Investor Services revenue--which includes fixed-income trading results--fell 29% from Q3 and 11% from a year ago.Other banks falling: Goldman Sachs (GS-0.5%), Bank of America (BAC-0.4%), Morgan Stanley (MS+0.1%).Citigroup (C+3.4%) gains after BMO Capital upgrades the stock to outperform from market perform.Regional banks are also in the red: Fifth Third (FITB-1.2%), KeyCorp (KEY-1%), Comerica (CMA-0.8%), PNC Financial (PNC-0.9%), and Regions Financial (RF-0.6%) are among the biggest decliners.Previously:JPMorgan -1.8% after big Q4 EPS miss (Jan. 15)Se
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News
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- MITER Brands Completes Acquisition of PGT Innovations, Inc. [Yahoo! Finance]Yahoo! Finance
- Liberty Community Services Awarded $120,000 From KeyBank Foundation To Bring Housing and Transportation Services to New Haven Homeless [Yahoo! Finance]Yahoo! Finance
- KeyBank Opens New, Full-Service Branch on Redmond Ridge [Yahoo! Finance]Yahoo! Finance
KEY
Earnings
- 1/18/24 - Miss
KEY
Sec Filings
- 3/22/24 - Form ARS
- 3/22/24 - Form DEF
- 3/18/24 - Form 3
- KEY's page on the SEC website