Latest Financial services News

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%

Jul. 18, 2024 03:31 AM EDT

Home buyers and businesses waiting for lower interest rates in Europe are going to have to wait a little longer as the European Central Bank takes its time to make sure stubborn inflation is firmly under control before lowering its benchmark rate again. The ECB's stance for now...

Capital One offers $265B benefit plan to appease regulators for its planned purchase of Discover

Jul. 17, 2024 22:15 PM EDT

NEW YORK (AP) — Capital One said Wednesday it plans to offer $265 billion in lending, investing and philanthropy projects as part of its pending $35 billion merger with Discover Financial. The plan is designed to appease federal bank regulators, who have been initially skeptical of approving the...

First Industrial Realty Trust: Q2 Earnings Snapshot

Jul. 17, 2024 16:33 PM EDT

CHICAGO (AP) — CHICAGO (AP) — First Industrial Realty Trust Inc. (FR) on Wednesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations. The Chicago-based real estate investment trust said it had funds from operations of $89.6...

Crown Castle: Q2 Earnings Snapshot

Jul. 17, 2024 16:24 PM EDT

HOUSTON (AP) — HOUSTON (AP) — Crown Castle International Corp. (CCI) on Wednesday reported a key measure of profitability in its second quarter. The results missed Wall Street expectations. The Houston-based real estate investment trust said it had funds from operations of $704...

Bank OZK: Q2 Earnings Snapshot

Jul. 17, 2024 16:11 PM EDT

LITTLE ROCK, Ark. (AP) — LITTLE ROCK, Ark. (AP) — Bank OZK (OZK) on Wednesday reported second-quarter profit of $177.5 million. The bank, based in Little Rock, Arkansas, said it had earnings of $1.52 per share. The results surpassed Wall Street expectations. The...

Pinnacle Financial: Q2 Earnings Snapshot

Jul. 16, 2024 18:23 PM EDT

NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Pinnacle Financial Partners Inc. (PNFP) on Tuesday reported second-quarter earnings of $53.2 million. The bank, based in Nashville, Tennessee, said it had earnings of 64 cents per share. Earnings, adjusted for one-time gains and...

Bank First Corporation: Q2 Earnings Snapshot

Jul. 16, 2024 16:39 PM EDT

MANITOWOC, Wis. (AP) — MANITOWOC, Wis. (AP) — Bank First Corporation (BFC) on Tuesday reported second-quarter net income of $16.1 million. The bank, based in Manitowoc, Wisconsin, said it had earnings of $1.59 per share. Earnings, adjusted for non-recurring gains, were $1.56 per...

Charles Schwab falls; Match Group, UnitedHealth rise, Tuesday, 7/16/2024

Jul. 16, 2024 16:09 PM EDT

Stocks that traded heavily or had substantial price changes on Tuesday: Charles Schwab Corp. (SCHW), down $7.64 to $67.43. The financial services firm met earnings forecasts but came up short in other metrics closely watched by Wall Street. Bank of...

Bank of America Q2 profits drop as higher interest rates slow down lending

Jul. 16, 2024 10:50 AM EDT

NEW YORK (AP) — Bank of America said its profits fell in the second quarter, as higher interest rates ate into BofA's expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America saw a resurgence of activity in its investment banking division...

Bank of America: Q2 Earnings Snapshot

Jul. 16, 2024 06:51 AM EDT

CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Bank of America Corp. (BAC) on Tuesday reported second-quarter profit of $6.9 billion. The Charlotte, North Carolina-based bank said it had earnings of 83 cents per share. The results surpassed Wall Street expectations....