U.S. Large-Cap Banks: Jason Goldberg's Bank Brief: Volume 23, Issue 178: 10.19.26

Barclays' Bank Brief notes that the majority of U.S. large-cap banks reporting 3Q26 results have exceeded consensus EPS expectations, with higher net interest income, loan and deposit growth, positive operating leverage, and stable NIMs and asset quality metrics (including lower ACL ratios) more than offsetting weaker capital markets revenues and slower share repurchase activity. Company highlights: at TFC, lower-than-expected expenses, tax rate and provision drove the beat while NII was in line and fees soft; the new CEO reiterated a 16-18% ROTCE target and the bank announced the sale of LightStream. MTB beat on fees, provision and tax rate, though NII/NIM were below consensus and criticized loans and net charge-offs rose;