Anton Schutz, Mendon Capital Advisors, discusses the earnings beats from regional banks. CNBC Contributor Evan Newmark and Jim Cahn, Wealth Enhancement Group, weigh in.
Bank of New York Mellon reported a 37 percent rise in fourth-quarter profit, benefiting from a one-time gain of $427 million from the federal tax overhaul.
Its net interest income rose 6.4 percent to $3.14 billion in the quarter ended Dec. 31. The company had previously forecast expenses to increase 3 to 5 percent, said Wedbush Securities analyst Peter Winter. The Minneapolis- based bank said it recorded a one-time benefit of $910 million related to the new U.S. federal tax law.
The Minneapolis- based bank also recorded a one-time gain of $910 million related to the new U.S. federal tax law. Bancorp said net income attributable to common shareholders rose 16 percent to $1.61 billion or 97 cents per share in the fourth quarter ended Dec. 31, benefiting mainly from the tax-related gain. Excluding the gain and other one-time items, the bank...
Bancorp reported a 16 percent increase in quarterly profit on Wednesday as it booked a $910- million tax benefit due to new U.S. tax laws. The biggest U.S. regional bank by assets said net income attributable to common shareholders rose to $1.61 billion or 97 cents per share in the fourth quarter ended Dec. 31, from $1.39 billion or 82 cents per share, a year earlier.
In light of recent scandals, it's time for financial services firms to actively work to win or regain consumer trust.
Sen. Heidi Heitkamp (D-N.D.) talks about legislation that will reform part of the Dodd-Frank bill which will help small and regional banks.
People can find a more profitable place to store their savings.
*Financial sector stocks drive rally in Warsaw bourse. "The view that interest rates will start to rise... buoys banks stocks," said Monika Kiss, analyst of Equilor in Budapest. "In Warsaw, a consolidation of the sector also helps financial sector stocks, with funds reassessing their investments," she added.
Chris McGratty, KBW banking analyst, and Gerard Cassidy, RBC Capital Markets, provide insight to tax reform legislation and deregulation, and its likely impact on the banking sector.
TOKYO, Dec 25- Prolonged ultra-easy monetary policy is weighing heavily on Japanese bank profits but financial institutions should not expect business conditions to brighten dramatically even after the central bank raises interest rates, a senior Bank of Japan official said. Many regional banks could suffer losses in the long run as intensifying...
Peapack-Gladstone Bank CEO Doug Kennedy discusses the environment for community banks and what the Trump administration's deregulatory push means for them.
The big banks that do allow bitcoin futures trading are implementing strict, onerous standards on customers, the Financial Times reports.
CNBC's Bob Pisani takes a look at what's moving in early morning trading as regional banks post gains.
William "Bill" Rogers, SunTrust chairman and CEO, talks to CNBC's Wilfred Frost about tax reform, deregulation and consolidation in the banking industry.
The Republican tax overhaul plan is a "big deal" for the U.S. economy, BB&T CEO Kelly King told CNBC on Tuesday.
*Largest U.S. banks have lost out on Senate relief bill. WASHINGTON, Nov 30- Wall Street banks and big regional lenders are scrambling to secure changes to a U.S. Senate bill easing rules on smaller banks ahead of a key lawmaker meeting next week, several bank lobbyists told Reuters. Democrats and Republicans on the Senate Banking Committee this month reached a...
Steve Steinour, Huntington Bancshares CEO, discusses how tax reform could impact his bank and the overall economy.
Smaller banks, like their bigger Wall Street rivals, have aggressively cut costs since the 2008 financial crisis and trusted ultra-low interest rates to increase loan volumes. Fifth Third Bancorp Chief Financial Officer Tayfun Tuzun told Reuters that he was not seeking to compete with Morgan Stanley, Goldman Sachs or other Wall Street firms who dominate...
Jack Micenko, Susquehanna, discusses the recent performance in regional banks.