U.S. markets closed
  • S&P 500

    -9.94 (-0.23%)
  • Dow 30

    -106.56 (-0.31%)
  • Nasdaq

    -12.19 (-0.09%)
  • Russell 2000

    -5.33 (-0.30%)
  • Crude Oil

    +0.70 (+0.78%)
  • Gold

    +5.30 (+0.27%)
  • Silver

    +0.13 (+0.56%)

    -0.0015 (-0.14%)
  • 10-Yr Bond

    -0.0420 (-0.94%)

    -0.0054 (-0.44%)

    +0.7970 (+0.54%)
  • Bitcoin USD

    +70.35 (+0.26%)
  • CMC Crypto 200

    -2.18 (-0.38%)
  • FTSE 100

    +5.29 (+0.07%)
  • Nikkei 225

    -168.59 (-0.52%)

Q4 Earnings Come to Regional Banks: ALLY, HBAN & More

Friday, January 22, 2021

Back to the grind of Q4 earnings season this morning, with next week set to ramp-up even stronger with the total amount of companies and marquee names reporting for Q4. Most of the big banks have already posted for Q4; this morning — aside from a slight miss from Kansas City Southern KSU and a slight beat from Schlumberger SLB — we see a large share of Regional Banks reporting quarterly earnings. There isn’t time here to account for them all, so we’ll stick with just those carrying a Zacks Rank #1 (Strong Buy) into the morning’s report.

Headquartered in Sandy, UT and founded in 2009, Ally Bank ALLY easily outperformed estimates on both top and bottom lines: $1.60 per share was well in front of the $1.05 expected and $0.95 reported a year ago, on $1.98 billion in revenues which outpaced the $1.65 billion estimate and $1.64 billion in the year-ago quarter. This amounts to a 52.4% positive earnings surprise, and the bank’s third-straight earnings beat. For more on ALLY’s earnings, click here.

Honolulu-based First Hawaiian Bank FHB posted 50 cents per share versus 42 cents in the Zacks consensus for its Q4 earnings report. Revenues of $188.83 million propelled past estimates of $181.24 million, and topped the year-ago revenue actual of $186.33 million. The oldest financial institution of the Hawaiian Islands, founded in 1858, has now posted two straight earnings beats after two straight misses prior. For more on FHB’s earnings, click here.

Huntington Bancshares HBAN, founded in 1866 by renowned capitalist from central Ohio, P.W. Huntington, missed estimates on both top and bottom lines in its Q4 report: 27 cents per share was below the 30 cents in the Zacks consensus and 28 cents reported in the year-ago quarter, and $1.24 billion in quarterly revenues came up 0.86% short of expectations. This marks the bank’s second miss in the last four quarters. After having gained 15% year to date, shares are down 2.5% in today’s pre-market. For more on HBAN’s earnings, click here.

Big names are hitting the Q4 earnings tape next week, with Microsoft MSFT, Johnson & Johnson JNJ and Novartis NVS reporting Tuesday, Apple AAPL, Tesla TSLA and Facebook FB Wednesday. This morning, major indexes are skimming profits across the board, down from fresh all-time highs reached in recent trading days.

Questions or comments about this article and/or its author? Click here>>

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.  

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Johnson & Johnson (JNJ) : Free Stock Analysis Report
Huntington Bancshares Incorporated (HBAN) : Free Stock Analysis Report
Kansas City Southern (KSU) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Schlumberger Limited (SLB) : Free Stock Analysis Report
Novartis AG (NVS) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
Facebook, Inc. (FB) : Free Stock Analysis Report
Ally Financial Inc. (ALLY) : Free Stock Analysis Report
First Hawaiian, Inc. (FHB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report