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2023-03-22 12:40:57 ET Summary The recent banking crisis prompted us to take a closer look at SOFI Bank through the standard metrics. Our deep dive further bolstered our confidence in its forward execution and profitability, significantly sweetened by its rapid growth thus far. ...
2023-03-22 10:50:55 ET Summary First Republic continues volatile trading due to uncertainty regarding the bank's funding sources despite multiple deals. The bank was highly dependent on business accounts with an average deposit balance of $490,000 leading to these uninsured accoun...
2023-03-22 06:05:18 ET As per the memo seen by Reuters, Citigroup ( NYSE: C ) announced that Anand Selva, the head of consumer banking operations, will also serve as the company's chief operational officer. In that capacity, Mr. Selva will be in charge of overseeing the massiv...
2023-03-21 22:34:21 ET Summary Bruce Berkowitz’s 13F stock portfolio value increased this quarter from $1.03B to $1.20B. They decreased Berkshire Hathaway and Intel Corp this quarter. They also dropped Kinder Morgan. The 13F portfolio is mostly invested in St. Joe Compa...
2023-03-21 12:15:46 ET Summary BDJ has been a long-term position in my closed-end fund portfolio. The fund is attractive and delivers dependable monthly distributions. However, with only a slight discount, I'd be hesitant to consider adding even after financials took a big hit...
2023-03-21 10:32:21 ET Summary WFC recorded a relatively modest unrealized loss-to-equity ratio of 6.9%, compared to its big bank peers, such as JPM at 5.6%, BAC at 7.2%, and C at 18.9%. With only 36.9% of its deposits uninsured, WFC appeared to be at a lower risk of a bank run, s...
2023-03-21 10:21:20 ET Roundhill Investments announced the launch of the Roundhill BIG Bank ETF ( NASDAQ: BIGB ) which aims to offer investors exposure to the largest and most liquid U.S. bank stocks on the market. Dave Mazza, Chief Strategy Officer at Roundhill stated:...
2023-03-21 07:34:54 ET Officials at the U.S. Treasury Department are reportedly studying ways to guarantee all bank deposits if tremors in the banking system spiral into a full-blown financial crisis. Authorities don't yet see full FDIC coverage as necessary, but they are exploring a le...
Citigroup will issue its first quarter results via press release at approximately 8 a.m. (ET) on Friday, April 14, 2023. At 11 a.m. (ET), results will be reviewed via live webcast and teleconference. The press release, webcast and presentation materials will be available at https://www.citi...
2023-03-20 14:45:33 ET Summary The recent sell-off of bank stocks has triggered a drastic plunge in Citigroup's stock price to its pandemic and 8 Year lows, suggesting an improved margin of safety to our price target. The bank also boasted an excellent Liquidity Coverage Ratio [LC...
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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...