Bank stocks are on the move Friday as several big names in the space release earnings reports.
Let’s dive into that news below to see what’s happening with bank stocks today!
Banks Stocks On the Move: JPMorgan Chase (JPM)
JPMorgan Chase (NYSE:JPM) stock isn’t doing so hot today with shares down 5.9% as of Friday morning. That comes alongside the company’s most recent earnings report. Lowered guidance among warnings of headwinds from inflation is behind the fall.
Unfortunately, not even beating estimates could keep JPM from slipping today. The company’s earnings per share of $3.33 beat out Wall Street’s estimate of $3.03 per share. Revenue of $30.35 billion also comes in above analysts’ estimate of $29.9 billion, reports CNBC.
Banks Stocks On the Move: Wells Fargo (WFC)
Wells Fargo (NYSE:WFC) stock is jumping 1.5% in early morning trading today. This is the result of the company beating out estimates for its fourth quarter of 2021. That includes EPS of $1.38 on revenue of $20.86 billion. Both of those are better than Wall Street’s estimates of $1.12 per share and $18.78 billion.
Banks Stocks On the Move: BlackRock (BLK)
Blackrock (NYSE:BLK) stock is seeing shares drop 1.9% as of this morning. Just like the others, this comes after reporting earnings this morning. The company reported an adjusted EPS of $10.42 on revenue of $5.11 billion. Those are mixed results next to analysts’ estimates of $10.15 per share and revenue of $5.17 billion.
Banks Stocks On the Move: Citigroup (C)
Citigroup (NYSE:C) stock is joining those falling with shares down 2.5% as of this morning. Yet again, this comes after the release of its most recent earnings report. The company beat out Wall Street’s estimates with EPS of $1.46 on revenue of $17 billion. Analysts were looking for $1.37 per share on revenue of $16.77 billion.
Even so, investors took note of the company’s year-over-year performance during the quarter. That includes net income dropping 26% from the same time last year, as well as EPS slipping 24% over the same period.
Investors looking for more hot stock market news Friday are in the right place!
InvestorPlace has all the latest news they need to know about! That includes the biggest pre-market stock movers this morning, as well as recent Nikola (NASDAQ:TSLA) and Tesla (NASDAQ:TSLA) news. You can learn all about these topics at the following links!
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