NEW YORK - The major United States bank have remained mostly flat since they reported their earnings. J.P Morgan is down 6.9% or $12 billion of market capitalization since it reported, despite reporting a profit of $4.4 billion. Investors worried about the foreclosure scandal that had just began to unfold. But despite recent clarification the stock has remained lower.Bank of America has lost 7.3% since or approximately $10 billion of market capitalization since it reported just over a week ago. The bank reported $3.1 billion of adjusted profit but lost $7.3 billion with the goodwill charge. To read our BAC report click here.
Wells Fargo has been the best performing bank since it reported, the stock is up 6.5% or about $8 billion of market capitalization. The bank reported record profits of $3.34 billion. To see the full Wells Fargo report click here.
Citigroup is up 5% or about 6 billion of market capitalization since it reported $2.1 billion of profit. Surprisingly the bank is valued higher than Bank of America despite lower profits the stock has vaulted higher then its peer.
PNC Financial the 6th largest bank in the U.S., surprisingly is only 2.1% higher despite near record results when it reported just over a week ago. The bank announced $1.1 billion of profits. To see the full PNC report click here.
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