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
Date |
Firm |
Action |
From |
To |
Oct 2017 |
Societe Generale |
Downgrades |
Hold |
Sell |
Oct 2017 |
Nomura |
Maintains |
|
Buy |
Oct 2017 |
Morgan Stanley |
Maintains |
|
Overweight |
View More Analyst Ratings for
C
View the Latest Analyst Ratings
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