Reports show meager profit outlook for midsized US banks

NEW YORK -Banks were among the poorest-performing sectors on Wall Street Thursday, after earnings from midsized lenders pointed to a weakening profit outlook in the aftermath of a recent industry crisis. Shares of Comerica, KeyCorp and Zions Bancorporation dropped between two and five percent following first quarter results that revealed a drag from the higher interest payouts needed to retain deposits. These banks were among US regional lenders punished severely in the wake of Silicon Valley Bank and Signature Bank's failures last month, which sparked worry of further deposit runs. The reports were not all bad, with the three banks reporting profitable quarters. Further, despit...Keep on reading: Reports show meager profit outlook for midsized US banks

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