WFM - 6 Biggest US Banks Ramp Up Buybacks Undeterred By Stress Tests | Benzinga
The six biggest banks in the U.S. have not let this week’s stress tests on capital levels deter them from returning value to shareholders.
JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC), Wells Fargo & Company (NYSE:WFM), Citigroup Inc. (NYSE:C), U.S. Bancorp (NYSE:USB) and The PNC Financial Services Group, Inc. (NYSE:PNC) bought back more than $14 billion in shares in the first quarter, registering a 73% leap from the pace set in the last six months of 2023, Bloomberg reported.
The annual stress test, which came out of the 2008 financial crisis and is set to release the latest ...