Bancorp (NYSE:USB) earned 99 cents per share, down from $1.28 per share in the year-ago period and behind the consensus of $1.08 per share. Bancorp (NYSE:USB) marginally moved up in the pre-market trading session on Friday, July 15, 2022, following its mixed financial performance for the second quarter. Moreover, First Republic Bank (NYSE:FRC) reported that total deposits rose 23 percent on a year-over-year basis to $165.6 billion in the quarter. If we look at some other growth indicators, loan originations for the quarter climbed 31.1 percent versus last year to $22 billion, driven by an improvement in single and multi-family lending. Analysts were expecting First Republic Bank (NYSE:FRC) to report earnings of $2.09 per share on revenue of $1.47 billion.
Revenue for the quarter advanced nearly 23 percent versus last year to $1.5 billion. The San Francisco-based bank earned $2.16 per share, up from $1.95 per share in the same period of 2021. Shares of First Republic Bank (NYSE:FRC) rose nearly two percent on Thursday, July 14, 2022, after beating profit and revenue expectations for the second quarter. In addition, many other financial stocks, including The Bank of New York Mellon Corporation (NYSE: BK) and Morgan Stanley (NYSE: MS), came into the limelight after releasing their earnings reports. On the other hand, JPMorgan stock hit a new 52-week low following weak results for the second quarter. In comparison, Wells Fargo stock marginally moved down the pre-market trading Friday after missing the consensus estimates. If we look at their price actions, Citigroup shares turned green in the pre-market trading Friday, July 15, after beating financial expectations for Q2. (NYSE: JPM), recently came out with their reports for the second quarter. (NYSE: C), Wells Fargo & Company (NYSE: WFC) and JPMorgan Chase & Co.
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In this article, we will take a look at the 10 key quarterly reports from the financial sector.
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