Yahoo Finance published this video item, entitled “Bank stocks: What investors should pay attention to this earning season” – below is their description.
With 2024 off to a rocky start, Wall Street is hoping for smoother sailing to come in the rest of the year. As Big Banks will start to report fourth-quarter earnings on Friday, January 12, many are feeling the upcoming dread as banks are expected to report lower profits after setting money aside to cover souring loans while paying more to depositors.
Christine Short, Wall Street Horizon VP of Research, joins Yahoo Finance to give insight into why investors should reframe their points of view on the outlook for bank stocks as they look for investment opportunities.
“Sell-side analysts have been lowering their guidance, that’s because companies have been lowering their guidance. I always take that with a bit of a grain of salt,” Short explains. “Going into the season, companies pull back a little bit. They’re conservative because they want to lower that bar so that they end up beating, the stock pops, it’s ultimately better for the stock.”
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