Hot Banking Stocks – PNC, EWBC, FITB

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PNC Financial Services (NYSE:PNC) jumped up 8.32% to $8.34 on massive volume of 4.48 million shares. Today it reported net income of $559 million, or $1.00 per diluted common share, for the third quarter of 2009 compared with net income of $207 million, or $.14 per diluted common share, for the second quarter of 2009. For the first nine months of 2009, the company earned net income of $1.30 billion, or $2.17 per diluted common share. Net income was $1.16 billion, or $3.23 per diluted common share, for the first nine months of 2008.

East West Bancorp, Inc. (NASDAQ:EWBC) rallied 5% to $8.78. East West Bancorp Inc. (EWBC: News ), parent company of East West Bank, reported a third-quarter net loss available to stockholders of $79.151 million compared to a loss of $35.295 million last year. Loss per share widened to $0.91 from $0.56 last year. Operating earnings were $62.952 million. On average, 14 analysts polled by Thomson Reuters expected the company to report a loss of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Fifth Third Bancorp (NASDAQ:FITB) climbed 4.75% to $10.59 with 7.04 million shares being traded in less than first hour of trade. Fifth Third Bancorp. said on Thursday that it posted a third-quarter loss of $97 billion, or 20 cents a share, compared to a loss of $56 million, or 14 cents a share a year ago. The company's results were down from a profit of $882 million, or $1.15 a share in the second quarter. Analyst polled by FactSet Research had, on average, expected the Ohio-based bank to lose 21 cents a share.

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