Bank stocks are on the move Friday as some of the biggest players in the market release their earnings reports for the fourth quarter of 2020.
- Earnings per share came in at $3.79.
- That beats out analysts’ estimates of $2.62 per share for the period.
- Revenue for the quarter sitting at $29.2 billion.
- This is better than Wall Street’s estimate of $28.7 billion.
- Net income of $12.14 billion is up 42% year-over-year from $8.52 billion.
- The company reported EPS of $2.08.
- That’s above analysts’ estimates of $1.34 per share.
- Its revenue reached $16.5 billion.
- This has it missing Wall Street’s estimate of $16.71 billion for the quarter.
- Its net income of $4.63 billion is down 7% from $4.98 billion in the same period of the year prior.
- EPS for the quarter comes in at 64 cents.
- That’s better than analysts’ EPS estimate of 60 cents.
- Revenue in the most recent quarter is $17.93 billion.
- That’s a miss next to Wall Street’s revenue estimate of $18.13 billion.
- Net income of $2.99 billion is up 4% YoY from $2.87 billion.
While JPMorgan Chase did well today, it looks like the mixed results from Citigroup and Wells Fargo are likely dragging it down. As a result, each of these bank stocks is seeing their shares dip lower today.
JPM stock was down 2.3%, C stock was down 5.1% and WFC stock was down 7.5% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.