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Zacks News
Citizens Financial's (CFG) Capital Needs Become Stringent
by Zacks Equity Research
An increase in SCB implies a regulatory minimum CET1 ratio of 8.5% for Citizens Financial (CFG). Nonetheless, the company is likely to continue repurchase activities.
Top Japan-Based Lenders Aim to Win Bigger IB Deals in the US
by Nikita Kataruka
Top lenders in Japan, including Mizuho (MFG), seek to win bigger investment banking deals in the United States to make better utilization of their balance sheets.
3 Top Performing S&P 500 Banks in the First Half of 2023
by Swayta Shah
Bank stocks witness a terrible start to 2023 due to the banking crisis and a gradual fall in loan demand on high rates. Only three S&P 500 banks - JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C) - end the first half in green on solid fundamentals.
PNC Financial (PNC) Ups Dividend, Expects SCB to Dip to 2.5%
by Zacks Equity Research
With expectations of a decrease in the SCB for PNC Financial (PNC), the company increases its quarterly dividend by 3.3%. However, it expects to reduce its share repurchase activity.
Citi (C) Raises Dividend Despite Higher Stress Capital Buffer
by Zacks Equity Research
Citigroup's (C) SCB requirement increases to 4.3% from the current 4%. Nonetheless, it plans to hike the current quarterly dividend by 4% to 53 cents per share for third-quarter 2023.
BofA (BAC) Delays Dividend Amid Stress Test Result Discrepancy
by Zacks Equity Research
Bank of America (BAC) delays announcing its dividend because of differences in the results of its stress test and that of the Fed.
Goldman (GS) to Hike Dividend by 10% Post Stress Test Results
by Zacks Equity Research
With a minimum Standardized CET1 ratio requirement of 13% determined for Goldman (GS) effective Oct 1, it announces plans to increase the quarterly dividend by 10%.
Wells Fargo (WFC) Hikes Dividend by 17%, To Continue Buybacks
by Zacks Equity Research
With a decrease in the stress capital buffer for Wells Fargo (WFC), it announces plans to increase its quarterly dividend by 10% and continue repurchases through second-quarter 2024.
Large Banks to Boost Dividends After Clearing Stress Test
by Swayta Shah
Large banks, including JPM, C and MS, to lift dividends after sailing through the 2023 stress test. BAC didn't provide any updates. Regional banks like TFC will not hike dividends on potential higher capital requirements.
Stock Market News for Jun 30, 2023
by Zacks Equity Research
U.S. stock markets closed mostly higher on Thursday after major banks cleared the Fed???s annual stress test.
Banks to be Conservative Despite Passing 2023 Stress Test
by Nikita Kataruka
All 23 banks have passed the Federal Reserve's 2023 stress test. Yet, the banks, expected to announce capital plans on Friday, will likely be a little conservative this time.
JPMorgan Chase & Co. (JPM) Dips More Than Broader Markets: What You Should Know
by Zacks Equity Research
JPMorgan Chase & Co. (JPM) closed at $138.59 in the latest trading session, marking a -0.44% move from the prior day.
BofA (BAC) Intends to Expand in Nine New Markets by 2026
by Zacks Equity Research
BofA (BAC) sets sights on new markets and envisages opening financial centers across nine new markets by 2026. The company also aims to open more financial centers in its existing markets.
Jefferies (JEF) Down as Q2 Earnings & Revenues Lag Estimates
by Zacks Equity Research
Weakness in asset management and advisory businesses hurts Jefferies' (JEF) fiscal Q2 earnings.
Affiliated Managers (AMG) to Acquire Minority Stake in Forbion
by Zacks Equity Research
Affiliated Managers (AMG) signs a deal to acquire a minority interest in Forbion. The agreement will broaden AMG's participation in private markets and the life sciences sector, further diversifying its business.
Robinhood (HOOD) to Cut 7% Full-Time Jobs Amid Trading Slowdown
by Zacks Equity Research
Robinhood (HOOD) is cutting about 7% of full-time jobs as the online broker prepares for a slowdown in trading activities.
Here is What to Know Beyond Why JPMorgan Chase & Co. (JPM) is a Trending Stock
by Zacks Equity Research
JPMorgan Chase & Co. (JPM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The Zacks Analyst Blog Highlights Goldman Sachs, Bank of America, Wells Fargo, Morgan Stanley, JPMorgan and Citigroup
by Zacks Equity Research
Goldman Sachs, Bank of America, Wells Fargo, Morgan Stanley, JPMorgan and Citigroup are included in this Analyst Blog.
Goldman Sachs (GS) Fires 125 Managing Directors Globally
by Zacks Equity Research
Goldman Sachs (GS) is firing 125 MD positions across the globe amid a significant slowdown in the IB divisions.
JPMorgan (JPM) Slashing 40 IB Positions in North America
by Zacks Equity Research
JPMorgan (JPM) is trimming 40 IB jobs in North America amid significant weakness in the IB division's financial performance.
Mitsubishi UFJ (MUFG) to Buy MFIN for Southeast Asia Expansion
by Zacks Equity Research
Mitsubishi UFJ (MUFG) announces its plan to acquire 80.6% shares of MFIN through MUFG Bank and ADMF for IDR7,042 billion. It is likely to expand its auto loan business in Indonesia.
BlackRock (BLK) Slashes Jobs Amid Budget Reallocation Move
by Zacks Equity Research
BlackRock (BLK) announces job cuts that will impact less than 1% of its workforce as the firm shifts its budget to support critical priorities.
How are 23 Large Banks Going to Fare in 2023 Stress Test?
by Swayta Shah
Large banks, including Goldman, Bank of America, Morgan Stanley, JPMorgan and Citigroup, will be in spotlight as the Fed releases 2023 stress test results later this week.
Robinhood (HOOD) to Buy X1 for $95M, Expand Product Offerings
by Zacks Equity Research
With the planned buyout of X1 Inc., Robinhood (HOOD) diversifies revenue streams, broadens its financial services portfolio and unlocks growth potential through innovative credit card offerings.
JPMorgan Chase & Co. (JPM) Stock Sinks As Market Gains: What You Should Know
by Zacks Equity Research
JPMorgan Chase & Co. (JPM) closed at $139.58 in the latest trading session, marking a -1.93% move from the prior day.