Regional Banks' Mixed Q3 Earnings: Cathay Up, Customers Outshine, Bancorp Down

Regional banks third-quarter earnings show a mixed bag, with revenues generally falling short of expectations by 1.1%. However, share prices have risen by an average of 1.3%. Cathay General Bancorp and Customers Bancorp had standout quarters, with revenues up 9.9% and 38.5% respectively, outperforming estimates. The Bancorp, however, faced challenges, with revenues up 38.8% but missing expectations by 10%, leading to a 20% stock drop. The market is now watching how these banks navigate economic factors like interest rate cuts and political developments.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.