U.S. Movers: JPMorgan, Northern Trust, Goldman Sachs, U.S. Bancorp

Mukesh Buch
16 Jan, 2013
New York City

JPMorgan fourth quarter net soared 53% and Northern Trust quarterly net jumped 29%. Goldman Sachs fourth quarter net surged nearly three-fold. BNY Mellon net profit climbed 23%.

[R]9:55 AM New York – JPMorgan fourth quarter net soared 53% and Northern Trust quarterly net jumped 29%. Goldman Sachs fourth quarter net surged nearly three-fold. BNY Mellon net profit climbed 23%.[/R]

JPMorgan Chase & Co. ((JPM)) declined 1% or 47 cents to $45.92 after the financial holding company said total net revenue in the fourth quarter ending in December advanced 10% to $24.4 billion from $22.2 billion in the same period of last year. Net income in the quarter soared 53% to $5.7 billion or $1.39 per diluted share compared to $3.7 billion or 90 cents a share a year ago earlier.

The company said credit card sales volume increased 9% to $101.6 billion and credit card loans slid 3% to $124.7 billion. Assets under custody increased 12% to $18.8 trillion. Commercial Banking unit reported record revenue loan growth for the tenth consecutive quarter to a record $128.2 billion, an increase of 14%.

M&T Bank Corporation ((MTB)) slipped 28 cents to $103.17 after the bank holding company stated interest income in the fourth quarter ending in December rose 4% to $745.3 million from $716 million in the same period of last year. Net income in the quarter increased 5% to $296.2 million or $2.16 per diluted share compared to $147.7 million or $1.04 a share a year ago quarter.

Northern Trust Corporation ((NTRS)) declined 4.6% or $2.43 to $50.38 after the financial services company said total revenue in the fourth quarter ending in December grew 1% to $969.7 million from $955.6 million in the same period of last year. Net income in the quarter jumped 29% to $167.7 million or 69 cents per diluted share compared to $130.2 million or 53 cents a share a year ago period.

The bank reported foreign exchange trading income declined 43% to $40.8 million compared to $71.7 million in the prior year quarter.

Net interest income for the quarter dropped 13%, this reflects lower average earning assets and continued decline in the net interest margin to 1.17% from 1.28% a year ago.

The Goldman Sachs Group, Inc ((GS)) gained 1.8% or $2.45 to $138.09 the investment bank reported total net revenue in the fourth quarter ending in December jumped 53% to $9.24 billion from $6.05 billion in the same period of last year. Net earnings in the quarter surged nearly three-fold to $2.83 billion or $5.60 per diluted share compared to $978 million or $1.84 a share a year ago.

The bank added net revenues in the quarter in investment banking soared 64% and institutional client services revenues increased 10%. Net revenues in investment management climbed 20%.

The Bank of New York Mellon Corporation ((BK)) dropped 3.8% or $1.03 to $25.75 after the regional bank said total revenue in the fourth quarter ending in December grew 3% to $2.85 billion from $2.76 billion in the same period of last year. Net income in the quarter climbed 23% to $622 million or 53 cents per diluted share compared to $505 million or 42 cents a share a year ago period.

U.S. Bancorp ((USB)) slid 15 cents to $33.15 after the banking and leasing company said total interest income in the fourth quarter ending in December slid 1% to $3.20 billion from $3.22 billion in the same period of last year. Net income in the quarter increased 5% to $1.42 billion or 72 cents per diluted share compared to $1.35 billion or 69 cents a share a year ago.