Shares of First Republic fell on missed net interest income; US Bancorp profit

Bank of the First Republic

Shares fell 10% Friday on the weakest share price reaction of the four regional banks reporting earnings. Jefferies analyst Casey Haire said that while First Republic’s third-quarter earnings of $2.21 beat its target of $2.18 per share, its net interest income going forward is down about $4. basis point against the forecast of 2.75% growth. First Republic’s third-quarter revenue of $1.5 billion beat analysts’ target of $1.54 billion, according to FactSet estimates. Meanwhile, US Bancorp
+ 2.05%

rose 1.4% after earnings of $1.16 per share beat Wall Street’s target by a cent, and revenue of $6.33 billion topped forecasts of $6.24 billion. Financial Services PNC

fell 1.2% despite beating analyst estimates for earnings and revenue, with earnings of $3.78 per share, beating forecasts of $3.70 per share and revenue of 5 $.55 billion, topping estimates of $5.42 billion. Huntington Bancshares Inc.

shares fell 0.6% after the regional bank posted third-quarter earnings of 35 cents per share, one cent above estimates, and revenue of $1.75 billion, beating its target of $1.71 billion. of the analyst.


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