Bank stocks are on the move Wednesday as investors react to a variety of news from some of the U.S.’s biggest financial institutions.
Let’s dive into all the news moving banks stocks below!
Bank Stocks On the Move: Bank of America (BAC)
Bank of America (NYSE:BAC) stock is sitting roughly 1% higher Wednesday morning after starting out trading even higher. That jump comes after the release of its earnings report for the fourth quarter of 2021. That’s thanks to earnings per share of 82 cents and revenue of $22.1 billion, as compared to Wall Street’s estimates of 76 cents per share and $22.23 billion.
Bank Stocks On the Move: Morgan Stanley (MS)
Morgan Stanley (NYSE:MS) stock is heading over 1% higher this morning and also started the day higher than that. This is also due to its most recent earnings report. That includes earnings per share of $2.01 on revenue of $14.5 billion. For comparison, analysts were expecting earnings per share of $1.96 and revenue of $14.59 billion.
Bank Stocks On the Move: US Bancorp (USB)
US Bancorp (NYSE:USB) stock is falling nearly 7% as of Wednesday morning. Yet again, this comes alongside the company’s Q4 earnings report. This saw it bring in diluted per-share earnings of $1.07 on revenue of $5.68 billion. Both of these are below Wall Street’s estimates of $1.10 per share on revenue of $5.74 billion.
Bank Stocks On the Move: State Street (STT)
State Street (NYSE:STT) stock is falling close to 5% as of early morning trading for Wednesday. Like the others, this has to do with its current earnings report. The company reported diluted EPS of $1.78 alongside revenue of $3.05 billion. For the record, analysts were estimating $1.88 per share on revenue of $3.01 billion for the period.
Investors looking for more hot stock market coverage are in the right place!
InvestorPlace has all the most recent stock news that traders need to know about for Wednesday! That includes what’s happening with Peloton (NASDAQ:PTON) and SoFi (NASDAQ:SOFI) shares, as well as the biggest pre-market stock movers from this morning. You can find all of that at the following links!
More Wednesday Stock Market News
- PTON Stock Alert: Why Is Peloton Under Pressure Today?
- SOFI Stock Pops on Bank Charter News. 10 Things to Know.
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
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.
