Bank Stocks Fall Amid Dour Results From Regionals

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Shares of U.S. banks dropped Friday, dragged down by underwhelming results from several regional lenders reporting rising costs of retaining depositors amid rising interest rates.

The S&P 500 Banks index was down 2%, with regional banks including, Regions Financial, Comerica Inc, and Fifth Third Bancorp, among the biggest losers.

RF posted Q3 earnings of 49 cents/shr, missing analysts' estimate of 58 cents a share, according toLSEG data. RF predicted net income interest in the fourth quarter to decline roughly 5% sequentially, as it paid more to retain deposits.CMA shares were down about 6% after it reported third-quarter earnings of $1.84 per share, compared to analysts' estimates of a $1.69 per share.

CMA said it expects NII to decline in the current quarter owing to soaring deposit retention costs. FITB also anticipates lower NII due to rising deposit costs.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว
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