Key Takeaways Major U.S. indexes surged at midday Wednesday after several big banks reported strong quarterly results and a key measure of inflation came in softer than anticipated.Bank of New York Mellon,
BNY posts strong Q4 earnings, analysts boost EPS estimates, highlight solid NII, fee growth potential, and strategic investments.
Morgan Stanley (MS) and Bank of America (BAC) are scheduled to announce quarterly results on July 16. What to watch for:Stay Ahead of the
Bank of America stock, for example, was down 2% after reporting a 116% spike in earnings. M&T Bank, US Bancorp, and PNC Financial were all down about the same, or more. Only Morgan Stanley stock was rising Thursday, but it is primarily an investment bank and asset manager, and less a consumer bank.
Bank of New York Mellon Corp. provided additional strength to financial stocks as the firm posted record 2024 revenue of $18.6 billion and delivered better-than-expected fourth-quarter results. "We enter 2025 with strong momentum,
Bank of America Securities analyst Ebrahim Poonawala reiterated a Buy rating on Bank of New York Mellon Corporation (BK – Research Report)
Mike Mayo; Analyst; Wells Fargo Securities, LLC Alex Blostein; Analyst; The Goldman Sachs Group, Inc. Brian Bedell; Analyst; Deutsche Bank Securities Inc. David Smith; Analyst; Truist Securities Inc. Thomas Leddy; Analyst; RBC Capital Markets
Investors in bank stocks keep getting rewarded. For now. Big banks reported strong fourth-quarter and full-year financial results on Wednesday. The KBW Nasdaq Bank Index saw its largest gain since the day after the presidential election.