Maoyuan Chen | Morningstar

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Zions Earnings: Tepid Loan Growth and Net Interest Margin Sequential Decline

Maoyuan Chen Apr 21, 2026

Regions Earnings: Loan Portfolio Optimization Still in Progress

Maoyuan Chen Apr 17, 2026

Truist Earnings: Fee Guidance Raised, but Less Net Interest Income Growth Expected in 2026

Maoyuan Chen Apr 17, 2026

KeyCorp Earnings: Strong Net Interest Income Growth and Guidance Raise

Maoyuan Chen Apr 16, 2026

US Bancorp Earnings: Good Commercial Loan Growth, but Net Interest Margin Flat in First Quarter

Maoyuan Chen Apr 16, 2026

Company Reports

More From Maoyuan Chen

PNC Earnings: Uplift in 2026 Net Interest Income and Balance Sheet Growth Guidance

We’ve raised our fair value estimate of PNC stock.

Maoyuan Chen Apr 16, 2026

Bank Stocks Fall on Macro and Private Credit Concerns

We see US banks as well capitalized but the sector is roughly fairly valued.

Maoyuan Chen Feb 23, 2026

Truist Earnings: Strong Fee Income Guidance for 2026, but Loan Growth Guidance a Bit Soft

We expect to increase our fair value estimate for Truist stock, mostly driven by higher net interest income growth and fee income growth.

Maoyuan Chen Jan 21, 2026

Zions Earnings: Solid Net Interest Income Growth and Expecting More Loan Growth in 2026

We expect to increase our fair value estimate for Zions stock by low single digits.

Maoyuan Chen Jan 21, 2026

KeyCorp Earnings: Net Interest Income Growth Drives Strong Performance

We plan to increase our fair value estimate for KeyCorp stock on higher near-term earnings growth.

Maoyuan Chen Jan 20, 2026

Fifth Third Earnings: Firm Finished 2025 Strong and on Track to Close the Comerica Acquisition

We plan to raise our fair value estimate of Fifth Third stock.

Maoyuan Chen Jan 20, 2026

U.S. Bancorp Earnings: Firm Finished 2025 With Strong Fee Income Momentum

We expect to raise our fair value estimate of U.S. Bancorp stock.

Maoyuan Chen Jan 20, 2026

PNC Earnings: 2026 Net Interest Income Guidance of 14% Growth Looks Particularly Strong

We expect to increase our $191 fair value estimate for PNC stock.

Maoyuan Chen Jan 16, 2026

Huntington Earnings: Strong Organic Loan Growth; Guidance Raised for 2025

Huntington has been increasing its loans faster than its peers.

Maoyuan Chen Oct 17, 2025

Comerica Earnings: Tepid Loan Growth in Third Quarter

Comerica didn’t disclose any exposure to Tricolor or First Brands.

Maoyuan Chen Oct 17, 2025

Truist Earnings: Strong Fee Income Performance, No Exposure to Tricolor Collapse

The stock has low exposure to the First Brands bankruptcy.

Maoyuan Chen Oct 17, 2025

M&T Bank Earnings: Strong Fee Income Growth and Positive Operating Leverage

M&T’s operating efficiency ratio in the third quarter was the best across our US regional bank coverage.

Maoyuan Chen Oct 16, 2025

KeyCorp Earnings: Continued Net Interest Margin Expansion, but Medium-Term Targets Seem Ambitious

We plan to raise our fair value estimate of KeyCorp stock.

Maoyuan Chen Oct 16, 2025

U.S. Bancorp Earnings: Strong Net Interest Margin Expansion and Fee Income Growth

We plan to raise our fair value estimate of U.S. Bancorp stock.

Maoyuan Chen Oct 16, 2025

PNC Earnings: Solid Third Quarter, but Lackluster Guidance for the Fourth

PNC shares are down nearly 3% in intraday trading.

Maoyuan Chen Oct 15, 2025

KeyCorp Earnings: Continued Recovery in Net Interest Income and Slight Guidance Raise

KeyCorp said most of its investment banking fees were driven by syndication, commercial real estate, and equity issuance.

Maoyuan Chen Jul 22, 2025

Huntington Earnings: Strong Loan Growth and NII Guidance Upgraded, but Expense Outlook Also Higher

We plan to slightly raise our fair value estimate of Huntington stock.

Maoyuan Chen Jul 18, 2025

U.S. Bank Earnings: Balance Sheet Repositioning Should Support Net Interest Income Going Forward

We view U.S. Bank stock as modestly undervalued after incorporating second-quarter results.

Maoyuan Chen Jul 17, 2025

Undervalued by 26%, This High-Dividend Stock Is a Buy

Income investors, take note: With a dividend yield above 5%, this wide-moat stock looks attractive.

Maoyuan Chen Apr 24, 2025

Comerica Earnings: Lower 2025 Net Interest Income and Fee Outlook

We’ve slightly lowered our fair value estimate of Comerica stock.

Maoyuan Chen Apr 21, 2025

US Bancorp Earnings: Disciplined Expenses and Positive Operating Leverage

The stock is our preferred name among US regionals, given its diversified fee income stream and prudent underwriting history.

Maoyuan Chen Apr 16, 2025

Huntington Earnings: Strong 2024 Finish, Outlook Mostly in Line With Our Expectations

We view Huntington stock as slightly overvalued.

Maoyuan Chen Jan 17, 2025

U.S. Bancorp Earnings: Net Interest Income Flat, but Guided Positive Operating Leverage in 2025

The bank’s previous investment in technology and digital capabilities should help it see solid expense control.

Maoyuan Chen Jan 16, 2025

Republican Election Win Largely Positive for Capital Markets and Investment Services Firms

We view most of these firms as fairly valued or slightly overvalued.

Maoyuan Chen Nov 18, 2024

US Banks Election Impact: Tailwinds From Softer Regulation, More M&A, and Steepening Yield Curve

We believe potential tailwinds have largely been incorporated into share prices and view the banking sector as fairly valued to slightly overvalued.

Maoyuan Chen Nov 18, 2024

More About Maoyuan Chen

Maoyuan Chen is an equity analyst, financial services, for Morningstar. She covers US regional banks.

Chen joined Morningstar in 2023 as an associate equity analyst on the financial-services team and was promoted to equity analyst in 2024. Before that, Chen interned at Diamond Hill’s international investment team in 2022.

Chen holds a bachelor’s degree in economics from Southeast University. She also holds a Master of Science degree in accounting and fundamental analysis from Columbia Business School.

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