Banks play a critical role in the financial system, providing everything from commercial loans to wealth management and payment processing services. Still, investors are uneasy as banks face challenges from credit quality concerns and potential regulatory changes.
These doubts have certainly contributed to banking stocks’ recent underperformance - over the past six months, the industry’s 23.4% gain has fallen behind the S&P 500’s 32.7% rise.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at First Citizens BancShares (NASDAQ:FCNCA) and the best and worst performers in the regional banks industry.
A number of stocks fell in the afternoon session after a weaker-than-expected August jobs report heightened concerns about the health of the U.S. economy.
A number of stocks fell in the morning session after a surprisingly weak July jobs report and the announcement of sweeping new tariffs fueled fears of an economic slowdown and an impending interest rate cut.
Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets.
Regional banking company First Citizens BancShares (NASDAQGS:FCNC.A) announced better-than-expected revenue in Q2 CY2025, but sales fell by 3.5% year on year to $2.37 billion. Its GAAP profit of $42.36 per share was 8.3% above analysts’ consensus estimates.
