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Big Bank Q3 Earnings Roundup

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Big Bank Q3 Earnings Roundup
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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
Jul 2018BMO CapitalMaintainsMarket PerformMarket Perform
Jul 2018OppenheimerMaintainsOutperformOutperformer
Jul 2018Morgan StanleyMaintainsOverweightOverweight

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