Bank stocks have taken a beating since worries about global economic growth surfaced at the end of August. This downward trend began to reverse itself last week, however, led by shares of Capital One (NYSE:COF), Regions Financial (NYSE:RF), and PNC Financial (NYSE:PNC), which all increased sharply following third-quarter earnings.
To be clear, not all of these banks reported equally spectacular results for the three months ended Sept. 30:
- Capital One's were the best, growing revenue on a year-over-year basis and turning in the lowest efficiency ratio among the nation's biggest banks.
- PNC Financial saw its top-line revenue fall in the quarter, but its net income grew, thanks to marginally lower noninterest expenses and a steep decline in income taxes.
- Regions Financial brought up the rear, slightly missing analyst estimates for both revenue and earnings, as my colleague Matthew Frankel discussed here, but growing both its loans and net interest income.
But despite these varied results, one thing Capital One, PNC Financial, and Regions Financial had in common last week were dramatic upticks in their stock prices. To see exactly how their shares performed last week, scroll through the brief slideshow below.