PNC Jan 2025 135.000 put
| Previous close | 0.7500 |
| Open | 0.7500 |
| Bid | 0.3500 |
| Ask | 0.8000 |
| Strike | 135.00 |
| Expiry date | 2025-01-17 |
| Day's range | 0.7500 - 0.7500 |
| Contract range | N/A |
| Volume | |
| Open interest | 271 |
- Yahoo Finance Video
Citi's performance was 'a little sluggish': Analyst on earnings
Goldman Sachs (GS) was a notable standout among the Big Banks that reported third quarter earnings on Tuesday — which also included Bank of America (BAC) and Citigroup (C). Goldman Sachs saw investment banking fees rise 20%, or $1.8 billion, from this time last year To speak more on bank earnings, Market Domination welcomes CFRA Director of Equity Research Ken Leon. As financial institutions adjust to the new interest rate environment, Leon forecasts M&A underwriting transactions. He found Citi's earnings performance to be "a little sluggish." CFRA has Citi at a Buy rating with a $73 per share price target. "The intermediate of course, is a streamlined bank, one that's watching expenses. It's rid itself of consumer banks outside the US, and it has still a pretty significant institutional treasury service business," Leon tells Julie Hyman and Josh Lipton. "It wasn't good enough today, and I think part of this was the messaging from senior management that still talks about a multiyear transformation." Leon also weighs in on Bank of America's net interest income and looks ahead to what to expect from Morgan Stanley (MS) when it reports earnings Wednesday morning. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Regional bank earnings: Who will benefit from lower rates?
While Big Banks continue to report third quarter earnings — notably Bank of America (BAC), Goldman Sachs (GS), and Citigroup (C) today — let's not forget about the regional banks. Wedbush Securities managing director of equity research David Chiaverini lists some of his top picks for the regional banking sector amid earnings season, ranging from Comerica Inc. (CMA) to Western Alliance Bancorp. (WAL) and M&T Bank (MTB). "So we're really interested in the liability-sensitive banks here. And those are banks that should benefit from a lower interest rate environment," Chiaverini explains to Seana Smith and Brad Smith. When taking interest rates into account ahead of bank earnings, Chiaverini does "expect this rerating to continue." "And while lower interest rates, when you kind of zoom out, is normally not good for financials. But given the impact on credit quality, I think that's giving investors, as well as analysts like myself, become more constructive on the banks because they've been trading at discounts to historical multiples." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Luke Carberry Mogan.
ZacksPNC Financial Q3 Earnings Beat on Higher Fee Income, Costs Rise
A rise in fee income and deposit balance support PNC's Q3 earnings, while lower NII and a rise in expenses act as headwinds
