Truist's Mixed Earnings and Higher Deposit Costs Impact Regional Banks
TL;DR Summary
Truist Financial, a regional bank, reported a 15% decline in earnings for Q2, missing estimates, while Zions Bancorp saw a 14% drop in earnings but beat analyst forecasts. Truist's revenue rose 5.1% and it expects a 4% decline in revenue for Q3. Zions reported a 1.9% increase in revenue and saw customer deposits grow by $2 billion. Regional bank stocks have been mostly positive this week, with the SPDR S&P Regional Banking ETF surging 8.9% and 15% for the month.
- Regional Banks Mixed As Reports Roll In; Truist Delivers Rare Sector Miss Investor's Business Daily
- Day 3 of Regional Bank Earnings: Fifth Third, KeyCorp, Truist Report The Wall Street Journal
- Truist Financial GAAP EPS of $0.92 misses by $0.09, revenue of $5.97B misses by $10M Seeking Alpha
- Truist Joins US Regional Banks Posting Higher Deposit Costs Yahoo Finance
- Truist (TFC), Keycorp (KEY), Fifth Third (FITB) Report Higher Deposit Costs Bloomberg
- View Full Coverage on Google News
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