Market Overview

Big Bank Q3 Earnings Roundup

Share:
Big Bank Q3 Earnings Roundup
Related C
Now This: 4X-Leveraged Currency ETNs
With Financials Soaring, Don't Forget This Bank ETF
AustralianSuper Pty Ltd Buys Chevron Corp, Texas Instruments Inc, FLIR Systems Inc, Sells Visa ... (GuruFocus)
Related GS
Golar, Goldman Sachs, Twitter, IWM: 'Fast Money' Picks For December 15
The Evolution Of Currency: From Gold To Bitcoin
Test Portfolio Results And Introducing A New Quality Portfolio (Seeking Alpha)

Big banks continued reporting their respective earnings reports Tuesday morning. Here is a roundup of how some of Wall Street's biggest banks performed in the third quarter.

Goldman Sachs

  • Goldman Sachs Group Inc (NYSE: GS) earned $5.02 per share in the third quarter on revenue of $8.33 billion.
  • Analysts were expecting the company to earn $4.17 per share on revenue of $7.54 billion.
  • Net earnings for the quarter rose from $2.094 billion in the same quarter a year ago to $2.128 billion.
  • Total assets rose from $907 billion at the end of June 2017 to $930 billion.
  • Goldman Sachs repurchased 9.6 million shares of its common stock in the quarter worth $2.17 billion and declared a 75-cents per share dividend to be paid at the end of December.
  • Shares of Goldman Sachs were trading higher by 1.07 percent at $245.00 early Tuesday morning.

Morgan Stanley

  • Morgan Stanley (NYSE: MS) earned 93 cents per share in the third quarter on revenue of $9.20 billion.
  • Analysts were expecting the company to earn 81 cents per share on revenue of $9.01 billion.
  • Net income for the quarter rose from $1.6 billion a year ago to $1.8 billion.
  • Annualized return on average common equity was 9.6 percent in the quarter and 9.8 percent for the first nine months of 2017.
  • Book value and tangible value per common share were $38.87 and $33.86, respectively.
  • During the quarter, the company bought back $1.25 billion worth of its common stock and declared a 25 cents quarterly dividend per share payable to investors at the end of October.
  • Shares of Morgan Stanley were trading higher by 1.12 percent at $49.49 early Tuesday morning.

Related Link: 10 Stocks To Watch For Oct. 17, 2017

JPMorgan

  • JPMorgan Chase & Co. (NYSE: JPM) earned $1.76 per share in the third quarter (reported on Oct. 12) on revenue of $26.2 billion.
  • Analysts were expecting the company to earn $1.65 per share on revenue of $25.2 billion.
  • Analysts at Buckingham Research maintains a Neutral rating on JPMorgan's stock with an unchanged $100 price target following the report.

Citi

  • Citigroup Inc (NYSE: C) earned $1.42 per share in the third quarter (reported on Oct. 12) on revenue of $18.2 billion.
  • Analysts were expecting the company to earn $1.32 per share on revenue of $17.9 billion.
  • Analysts at Societe Generale downgraded Citi's stock from Hold to Sell with a price target lowered from $70 to $65 after the earnings report.

Wells Fargo

  • Wells Fargo & Co (NYSE: WFC) earned $1.04 per share in the third quarter (reported on Oct. 13) on revenue of $21.93 billion.
  • Analysts were expecting the company to earn $1.03 per share on revenue of $22.4 billion.
  • Wells Fargo's stock moved sharply lower in reaction to the earnings report.

Related Link: Earnings Scheduled For October 17, 2017

Latest Ratings for C

DateFirmActionFromTo
Oct 2017Societe GeneraleDowngradesHoldSell
Oct 2017NomuraMaintainsBuy
Oct 2017Morgan StanleyMaintainsOverweight

View More Analyst Ratings for C
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings Long Ideas News Guidance Short Ideas Analyst Ratings Movers Best of Benzinga

 

Related Articles (C + GS)

View Comments and Join the Discussion!