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Bank Stocks: Why BAC, WFC and MS Investors Are Smiling Today

Bank stocks are on the move Thursday following the release of earnings reports from various companies.

bank customer sliding money to teller at bank desk representing bank stocks.

Source: Syda Productions / Shutterstock.com

We’re diving into those earnings reports below to see what has investors in bank stocks so happy today.

Bank Stocks On the Move: Bank of America (BAC)

Bank of America (NYSE:BAC) starts us off with earnings per share of 85 cents on revenue of $22.8 billion. That stacks up well next to Wall Street’s estimate of 71 cents per share and revenue of $21.78 billion. The company’s earnings per share and revenue are also up roughly 67% and 12% respectively compared to the same time last year.

BAC stock is up 2.6% in pre-market trading on Thursday.

Bank Stocks On the Move: Wells Fargo (WFC)

Wells Fargo (NYSE:WFC) is up next with diluted earnings per share of $1.17 and revenue of $18.83 billion. Both of those are better than analysts’ estimates of 99 cents per share and revenue of $18.35 billion. For comparison, the company’s diluted earnings per share and revenue for Q3 2020 were 70 cents and $19.32 billion.

WFC stock is up slightly in pre-market trading today.

Bank Stocks On the Move: Morgan Stanley (MS)

Morgan Stanley (NYSE:MS) closes us out with earnings per share of $1.98 on revenue of $14.75 billion. That’s looking good next to Wall Street’s estimates of $1.68 per share on revenue of $14 billion. They’re also an improvement over the company’s earnings per share of $1.66 and revenue of $11.72 billion from the same period of the year prior.

MS stock is up 1.7% in pre-market trading this morning.

Investors looking for more recent stock market news are in luck!

There’s plenty of stock market coverage waiting for them ahead. That includes this morning’s biggest pre-market stock movers, what happened with Orphazyme (NASDAQ:ORPH) stock yesterday, as well as details for the recent AvidXchange Holdings (NASDAQ:AVDX) IPO. You can find all of that at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/10/bank-stocks-why-bac-wfc-and-ms-investors-are-smiling-today/.

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