Jan. 16 at 12:10 PM
📉🏦
$RF just got smacked premarket (-9% to ~
$27.20) after Q4 EPS missed the Street.
💥 The headline:
$0.57 EPS vs
$0.61 expected — even though revenue still came in solid at ~
$1.9B (+6% YoY).
🧾 What wrecked the quarter? Taxes. Effective tax rate jumped to 24.5% (from 19.7%) thanks to a
$26M state tax reserve hit. Not exactly the catalyst bulls wanted
✅ Under the hood, it wasn’t all bad:
📈 Net interest margin up to 3.70%
🛡️ Credit quality improved (NPLs down)
💪 CET1 capital still a healthy 10.8%
💰 Full-year EPS
$2.33 (+9% YoY)
⚠️ Translation: fundamentals look fine… but the market hates surprises. Dip-buyers eyeing this or staying away?
