Truist Financial CorpTruist missed net interest income estimates and delivered the weakest performance against analyst estimates and slowest revenue growth among peers.
Truist Financial reported second-quarter revenues of $5.31 billion, up 5.1% year on year and 1.5% above analysts' expectations, though the bank missed analysts' net interest income estimates even as it beat EPS estimates. Among the 7 diversified banks stocks tracked, the group's revenues beat consensus by 4.6%, yet share prices have fallen 5.5% on average since the latest earnings results. Truist delivered the weakest performance against analyst estimates and the slowest revenue growth among its peers, and its stock is down 10.3% since reporting, trading at $47.79. Citigroup posted the best quarter in the group with revenues of $24.79 billion, up 14.3% year on year and 4.5% above expectations, while U.S. Bancorp reported the weakest quarter with revenues of $7.76 billion, up 9.9% and 2.1% above estimates but a miss on tangible book value per share. Bank of America reported revenues of $31.78 billion, up 15% year on year and 3.3% above expectations, and Wells Fargo reported revenues of $22.7 billion, up 8.6% and 3.9% above expectations.
Truist Financial CorpTruist missed net interest income estimates and delivered the weakest performance against analyst estimates and slowest revenue growth among peers.
Bank of America CorpBank of America reported revenues of $31.78 billion, up 15% year on year and 3.3% above expectations.
U.S. BancorpU.S. Bancorp reported the weakest quarter in the group with a miss on tangible book value per share.
Wells Fargo & CompanyWells Fargo reported revenues of $22.7 billion, up 8.6% year on year and 3.9% above expectations.
Taishin Financial Holding Co Ltd
Citigroup Inc.Citigroup posted the best quarter in the group with revenues of $24.79 billion, up 14.3% year on year and 4.5% above expectations.