|Bid||68.65 x 1300|
|Ask||68.85 x 800|
|Day's range||68.16 - 69.60|
|52-week range||64.38 - 80.70|
|Beta (3Y monthly)||1.50|
|PE ratio (TTM)||N/A|
|Earnings date||14 Jan 2019|
|Forward dividend & yield||1.80 (2.58%)|
|1y target est||85.35|
Bank of America (BAC) reported third-quarter revenues of $22.8 billion, surpassing Wall Street’s forecast of $22.7 billion. Its quarterly revenues rose 4.0% YoY and ~1.0% sequentially.
The big four banks have low direct exposure to a slowing Chinese economy, but the interconnectedness of the global economy means that the banks still face a lot of secondary risk.
Jim Cramer recommends four stocks for investors to start buying as the market's October volatility continues.
The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.45 per share, payable on November 21, 2018 to stockholders of record on November 5, 2018.
Oct 17 (Reuters) - Citigroup Inc: * CITIGROUP- ANZ, BANCO SANTANDER, BNP PARIBAS, CITI, DEUTSCHE BANK, HSBC, STANDARD CHARTERED ANNOUNCE JOINT INITIATIVE TO BUILD DIGITAL "TRADE INFORMATION NETWORK" ...
Seven banks, including HSBC and Banco Santander, have signed a Memorandum of Understanding (MoU) to create a global digital network in trade finance aiming at allowing cheaper and easier funding for corporates, a Santander manager said on Wednesday. The Australia and New Zealand Banking Group ANZ, BNP Paribas, Citibank, Standard Chartered and Deutsche Bank also agreed to join the digital trade information network expected to be operational by the third quarter of next year. "It is the first time that these banks come together to set a standard (...) that will allow cheaper access to finance because the risks are going to be reduced," Rogier Schulpen, global head of trade and working solutions at Banco Santander, said in a phone interview.
ANZ, Banco Santander, BNP Paribas, Citi, Deutsche Bank, HSBC and Standard Chartered have announced a joint initiative to build a digital “Trade Information Network” by the end of 2018. The founding banks have signed a corresponding Memorandum of Understanding (MoU) and have agreed to work toward piloting the Network.
Investing.com - Financials staged a rally heading into close, driving Wall Street off session lows, as bank stocks surged amid a slew of upbeat earnings and rising bond yields.
Investors in the US were the biggest buyers of the paper, accounting for 60 per cent, followed by the UK at almost a quarter. Turkish investors scooped up 5 per cent. The spread in yield against a comparable US Treasury was 4.48 percentage points, up substantially from an April sale of a 10-year bond, which priced at 3.37 points, and a January 10-year issue at 2.67 points.
In commodities, gold futures increased 0.36% to $1,234.70 a troy ounce, while crude oil futures fell 0.70% to $71.28 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, decreased 0.22% to 94.56.
Goldman Sachs (GS) stock was up ~2% in the October 16 premarket trading session after the investment bank reported better-than-expected third-quarter earnings results on the day. Goldman Sachs’s top and bottom lines not only surpassed Wall Street analysts’ estimates but also marked significant YoY (year-over-year) improvement.
Analysts are bullish on JPMorgan Chase (JPM). Analysts haven’t changed their ratings on JPMorgan Chase in the last three months. Wall Street’s one-year forward target prices for other major banks (XLF) including Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) represent upsides of 22.6%, 19.4%, 29%, and 21.7%, respectively.
Investment banking revenues rose 14 per cent to $1.5bn, well ahead of Wall Street forecasts. Equity underwriting was particularly strong at $441m, 60 per cent higher than the year earlier. Fixed income underwriting grew 15 per cent.
Treasury Secretary Steven Mnuchin and some powerful and well-connected Wall Street figures still appear to be attending “Davos in the Desert.”
Zacks Investment Ideas feature highlights: JP Morgan Chase, Citigroup, Wells Fargo, Bank of America and Bank of New York Mellon
JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. posted double-digit profit increases in the third-quarter, largely because of a pickup in income from consumer lending and spending. Rising interest rates make it more expensive for households to maintain a borrowing binge that has reached record highs in some categories, yet banks reported Friday that default rates nonetheless improved in the third quarter. Markets around the world have struggled this week to come to terms with how rising interest rates and government bond yields will ripple through the economy, as well as with the impact of the U.S.’s antagonism toward key trading partners.
An extended period of calm on the market has ended as investors worry about a surge in interest rates. The benchmark S&P 500 index is coming off a six-day losing streak. Apple and Amazon made big gains as technology and internet companies and retailers recovered some of their recent losses.
The stock market rallied with big gains Friday after two days of heavy losses. Three Wall Street banks reported earnings early Friday.
Despite the worldwide stocks rebound, the market, remains in a correction. A price pop after sharp losses is less convincing than those that emerge during a run-up.