On Oct. 17, Sovereign Bancorp
- Profit dropped 68% thanks to credit losses in the auto lending and home equity portfolios.
- Sovereign Bancorp and competitors KeyCorp
(NYSE:KEY) and PNC Financial Services(NYSE:PNC) are not rated highly by the Motley Fool CAPS community, which includes more than 70,000 investors rating more than 5,000 companies. Sovereign earns one star out of five, as does KeyCorp, while PNC earns two stars.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Net Interest Income |
$456.8 |
$491.8 |
(7.1%) |
|
Net Profit |
$58.2 |
$184.0 |
(68.4%) |
|
EPS |
$0.11 |
$0.37 |
(70.3%) |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q3 2007 |
Q3 2006 |
Change* |
|
|---|---|---|---|
|
Net Interest Margin |
2.74% |
2.64% |
0.10% |
|
Efficiency Ratio |
57.12% |
53.01% |
4.11% |
|
Nonperforming Assets / Assets |
0.39% |
0.30% |
0.09% |
|
Return on Average Assets |
0.28% |
0.81% |
(0.53%) |
|
Return on Average Equity |
2.63% |
8.47% |
(5.84%) |
Find out more about bank performance ratios.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Investments |
$15,290 |
$13,842 |
10.5% |
|
Loans |
$57,148 |
$63,178 |
(9.5%) |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Deposits |
$50,098 |
$52,784 |
(5.1%) |
|
Total Liabilities |
$77,735 |
$81,466 |
(4.6%) |
Learn about bank assets and bank liabilities.
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