Citizens Financial Group's Q4 23 earnings show a lower-than-expected adjusted EPS of $0.85, revenue of $1.99B, and a decline in net interest income to $1.5B. US Bancorp reports an adjusted EPS of $0.99, revenue of $6.73B, and a decrease in net interest income to $4.14B. Charles Schwab's Q4 23 earnings reveal an adjusted EPS of $0.68, net revenue of $4.46B, and a drop in net new assets to $66.3B. The bank's net interest revenue also decreased to $2.13B. The profit of both Charles Schwab and Citizens Financial Group fell in the fourth quarter due to lower net interest income. Charles Schwab's profit declined by 47% as costly deposits squeezed interest revenue. US Bancorp's profit also decreased due to competition for deposits eroding lending margins. The decline in net new assets and net interest income affected the banks' performance in the fourth quarter.
US bank profits shrink on higher deposit costs, one-time charges https://t.co/XYVxZDX5Ha https://t.co/sI5f5VJ0Td
US bank regulator: new liquidity rules needed to handle bank runs https://t.co/xIjjxSWOLa https://t.co/7o0Ry6nz5t
⚠️ US BANK REGULATOR: NEW LIQUIDITY RULES NEEDED TO HANDLE BANK RUNS (Reuters) A top U.S. banking regulator on Thursday called for new liquidity rules to help lenders respond to runs by depositors of the kind that felled Silicon Valley Bank and other mid-size banks last year.… https://t.co/EpUdFRiNDF
M&T Bank's profit plunges on FDIC fee-related expense, costly deposits https://t.co/jwLsMXiiM2 https://t.co/z7Z9NDwIqF
⚠️ M(and)T BANK'S PROFIT PLUNGES ON FDIC FEE-RELATED EXPENSE, COSTLY DEPOSITS (Reuters) M&T Bank's fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund… https://t.co/CgPqHMQDuT
Interesting signal regulators plan to tackle SVB liquidity trouble w/rules targeting “herd-able” uninsured deposits and a nudge toward using the discount window. Not stuck on “end game.” Exclusive: Top Bank Regulator to Call for New Liquidity Rules https://t.co/3kqpyAjlR5
⚠️ M(and)T BANK'S PROFIT PLUNGES ON FDIC FEE-RELATED EXPENSE, COSTLY DEPOSITS (Reuters) M&T Bank's fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund The…
$SCHW: some green shoots in 4Q with EPS power still close to $5/share. $43B of NNA - 6.3% annualized rate, transactional sweep cash acceleration m/m adding $15B in Dec, and overall client cash year end at a record $8.5T - up 21% y/y.
$KMI | Kinder Morgan Q4 23 Earnings: - Adj EPS: $0.28 (exp $0.30) - Revenue: $4.04B (exp $4.44B) - Adj EBITDA: $1.93B (exp $1.99B) - Raises 2024 Financial Guidance To Include Acquisition
$KMI | Kinder Morgan Q4 23 Earnings: - Adj EPS: $0.52 (exp $0.30) - Revenue: $4.04B (exp $4.44B) - Adj EBITDA: $1.93B (exp $1.99B) - Raises 2024 Financial Guidance To Include Acquisition
"Right now we’re seeing the middle of the banking crisis, they specifically cited the increased FDIC fee they had to pay. That that took a bite out of earnings. We’re seeing net charge-offs and credit card delinquencies kick up a appreciably…" https://t.co/rn62g8h5bk
US bank profits fall as competition for deposits erodes lending margins https://t.co/YliO8CAIq7 https://t.co/zSVdAL6IIn
$JPM: "Still a Buy with Record Earnings & Share Price" 1.95x P/TBV; 11.4x P/E based on 17% ROTCE target ROTCE was 22% in 2023, 19% in Q4 2024 will see worse NII, expense Dividend Yield 2.5%; P/E should re-rate to 14.5x We see 45% total return (14% IRR) https://t.co/r37IvlgsJa https://t.co/5A2XIK3b7B
⚠️ US BANK PROFITS FALL AS COMPETITION FOR DEPOSITS ERODES LENDING MARGINS (Reuters) Several large U.S. regional banks reported lower profits on Wednesday, a further sign that the 2023 income boost from high interest rates is starting to wane. Charles Schwab, Citizens… https://t.co/Oa1vl2yVvt
Citizens Financial Group saw profit drop in its fourth quarter, seeing a significant decline in its net income from a year earlier. CEO Bruce Van Saun joins @LesliePicker, @DavidFaber & @CarlQuintanilla to break down the numbers, plus the state of rates and lending. $CFG https://t.co/vOlyVn5LXp
US Bancorp posts lower fourth-quarter profit on FDIC charge https://t.co/QjyUTucodu https://t.co/wG4T5XDJJp
⚠️ CHARLES SCHWAB PROFIT DROPS AS COSTLY DEPOSITS SQUEEZE INTEREST REVENUE (Reuters) Charles Schwab's fourth-quarter profit fell 47% as bigger interest payments on its client deposits and debt dented gains from a jump in asset management fees, the brokerage reported on… https://t.co/ZluCO6TDbN
Schwab reported a decline in net new assets in the fourth quarter, as the brokerage navigated a tumultuous year where interest rate hikes dented the firm’s balance sheet https://t.co/MGlgZJEPs4
$SCHW (-1.1% pre) Charles Schwab 4Q Net Income Declines by Nearly Half - MW https://t.co/i6BjTA9Sou
$CFG (-2.0% pre) Citizens Financial Group 4Q Profit Falls on Lower Net Interest Income - MW https://t.co/oB8fRJhNWW
Charles Schwab profit halved but beats analyst estimates as stock rises https://t.co/DqeJz8Zfvy
Citizens Financial fourth-quarter profit falls on FDIC charge https://t.co/LTQoxtFMdh https://t.co/U02yD4orhq
$SCHW | Charles Schwab Q4 23 Earnings: - Adj EPS $0.68 (est $0.64) - Net Rev $4.46B (est $4.49B) - Total Net New Assets $66.3B (est $67.54B) - Net Interest Rev $2.13B (est $2.14B) - Total Client Assets $8.52T (est $8.43T) - Bank Deposits $290.0B (est $279.6B)
$USB | US Bancorp Q4 23 Earnings: - Adj EPS $0.99 (est $0.93) - Rev $6.73B (est $6.86B) - NII $4.14B (est $4.15B) - Total Avg Loans $372.86B (est $374.78B) - Total Avg Deposits $502.78B (est $515.61B) - Cash & Due From Banks $61.19B (est $63.18B)
$CFG | Citizens Financial Q4 23 Earnings: - Adj EPS $0.85 (est $0.84) - Rev $1.99B (est $2.00B) - Total Loans & Leases $145.96B (est $147.95B) - Total Deposits $177.3B (est $178.61B) - Provision For Credit Losses $171M (est $176.9M) - Net Interest Income $1.5B (est $1.49B)