BIRMINGHAM, Ala. (AP) _ Areas Monetary Corp. (RF) on Tuesday reported third-quarter web revenue of $530 million.
The financial institution, based mostly in Birmingham, Alabama, stated it had earnings of 52 cents per share. Earnings, adjusted for non-recurring prices, got here to 55 cents per share.
The outcomes exceeded Wall Avenue expectations. The typical estimate of 12 analysts surveyed by Zacks Funding Analysis was for earnings of 34 cents per share.
The holding firm for Areas Financial institution posted income of $1.71 billion within the interval. Its income web of curiosity expense was $1.64 billion, additionally beating Avenue forecasts. 9 analysts surveyed by Zacks anticipated $1.5 billion.
Areas Monetary shares have dropped 28% for the reason that starting of the 12 months, whereas the Customary & Poor’s 500 index has elevated 6%. The inventory has decreased 21% within the final 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) utilizing knowledge from Zacks Funding Analysis. Entry a Zacks inventory report on RF at https://www.zacks.com/ap/RF