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2023-03-18 04:20:12 ET Summary NFJ takes an approach of primarily investing in equity investments but also incorporates convertible securities. The fund has managers from both NFJ Investment Group and Voya Investment Management. The fund's discount is fairly attractive, and th...
2023-03-17 09:30:57 ET Summary First Republic Bank received a $30B deposit injection from 11 leading U.S. banks, including JPMorgan Chase. The Janet Yellen-orchestrated move is intended to bolster depositors' confidence. However, a dividend suspension led to another post-market ro...
2023-03-17 03:05:00 ET Summary The Fed and U.S. Treasury have made to decision to back-stop depositors at U.S. banks – a liability that could potentially hit $2 trillion. However, the scale of the problem this time, compared to 2008, is multiples larger. Aside from what...
2023-03-16 13:16:26 ET First Republic ( NYSE: FRC ) reversed course and soared 22% after a report that the nation's biggest banks are close to a deal to deposit about $30 billion as the U.S. government works to rescue the troubled lender. Banks including JPMorgan ...
2023-03-16 12:37:51 ET Citigroup ( NYSE: C ) docked the compensation of Paco Ybarra, head of its institutional clients business, after the lender was slapped with $200M in fines over the use of unauthorized messaging apps like WhatsApp by its employees. The bank i...
2023-03-16 12:06:40 ET Citibank's ( NYSE: C ) Credit Card Master Trust I delinquency and net charge-off rates continued to rise in February. Delinquency rate was 1.2% during the month, compared with 1.04% in January and 0.85% in February 2022, a recent filing disc...
2023-03-16 11:02:56 ET Summary The article discusses a number of indicators that the current situation is quite different than it was 15 years ago, and attempts a few words of reason. Although the situation is serious, I don't think it's reasonable to expect a nationwide bank run ...
2023-03-16 02:07:14 ET Summary SVB Financial Group became the largest bank to fail since the 2008 financial crisis. On Monday, this caused the price of regional U.S. banks to decrease significantly before recovering on Tuesday. In this analysis of the U.S. Banking Industry, I ...
2023-03-15 16:32:01 ET Summary SI, SIVB, and SBNY have failed over the last week. Some other banks are struggling. Bank stocks have been sold off indiscriminately. Some banks could benefit from the current environment in the long run. Thanks to low valuations, they seem attrac...
2023-03-15 11:34:55 ET Bank of America ( NYSE: BAC ) is said to have received more than $15B in new deposits in recent days following the collapse of three regional banks. Confidence in smaller lenders has taken a hit following the collapse of Silicon Valley Bank ( SIVB ...
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Citi Issuer Services, acting through Citibank, N.A., has been appointed as depositary bank by NIP Group Inc. (“NIP”) for its American Depositary Receipt (“ADR”) program. NIP is a leading Chinese esports organization with an expansive global footprint that spans Asia, E...
2024-07-30 09:00:15 ET Betsy Graseck from Morgan Stanley issued a price target of $79.00 for C on 2024-07-30 08:05:00. The adjusted price target was set to $79.00. At the time of the announcement, C was trading at $64.3. The overall price target consensus is at $68.92 wi...
Citi today announced the launch of its annual CitiFX Vendor Review, which provides the broadest view of FX vendors and a comprehensive analysis of the FX landscape for the benefit of clients and FX providers. The review highlights where strategic venue and vendor partners can improve based on...