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Industry Focus

Financials: A Rundown of Third Quarter Bank Earnings and More

Industry Focus

The Motley Fool

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4.6854 Ratings

🗓️ 21 October 2019

⏱️ 37 minutes

🧾️ Download transcript

Summary

Earnings season is now in full swing, and most major U.S. banks have reported. In today’s Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP discuss the results from 10 of the most important banks and what investors need to know. Plus, the pair discusses Schwab’s (NASDAQ: SCHW) decision to allow trading of fractional shares of stock, as well as the potential implications of the WeWork saga.

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Transcript

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0:00.0

Welcome to Industry Focus, the podcast that dives into a different sector of the stock market each day.

0:07.0

It's Monday, October 21st, joining me in the studio via Skype, certified financial planner Matt Frankel. Matt how's everything going?

0:14.9

Great nothing smells better than bank earnings in the morning.

0:18.1

Well, if that's truly the case on today's financial show we have got a lot to offer we are

0:25.7

digging into what's been a very big week of earnings from companies like Bank of

0:30.6

America Wells Fargo, Ameris Bank or American Express,

0:35.0

Seriously, I could just keep on going,

0:37.0

so I'll stop there, but rest assured, we've got plenty more.

0:41.0

We're also gonna check in on Schwab's latest effort to bring more value to

0:44.8

his trading platform. We're going to check in with a million acres team and see

0:49.0

what they're thinking about the recent We Work fallout and how that's impacting the commercial real estate

0:54.9

space. Of course we'll have a couple of what's the last stock you bought and why and

1:00.1

a couple of ones to watch for you for the coming week as well.

1:06.0

So as you may have gathered to this point, we have got a jam-packed show, somewhat limited time. So folks, let's just get right into it

1:15.9

Matt let's start with Bank of America. I think this is you know this is a company

1:20.5

obviously you like a lot you talk a lot about it you've chosen it

1:24.4

a number of times you're one to watch I think you own shares personally if I'm

1:28.6

not if I'm not mistaken it did look like it was a strong quarter for them, particularly the investment banking side of the business seems to be doing well.

1:42.0

But what were some of your takeaways from Bank of America's most

1:46.1

recent quarter?

1:47.1

I mean, yes, investment banking was great, consumer lending was great.

1:51.3

The biggest takeaway from Bank of America's is that unlike any of the other ones there really wasn't anything I could find that was really disappointing.

...

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