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2023-04-16 15:20:00 ET Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify 2:00 - Fed rhetoric and interest rates 4:50 - Recent bank earnings, what it means for the financial sector. 8:15 - Charles Schwab ( S...
2023-04-16 09:30:00 ET Summary The Fed saves the system, but there are side-effects. The Japanification of parts of the U.S. banking industry and the creation of zombie banks. I prefer the large U.S. banks. There will be asymmetric risk-reward opportunities in the regional...
2023-04-16 09:10:10 ET Summary JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Co. posted good, strong returns in the first quarter of 2023. These banks saw strong net revenue streams as they benefitted from the rising interest rates. These banks also showed a ...
2023-04-16 06:05:21 ET Summary Citigroup is trading at about 59% of tangible book value per share. Citigroup has a normalized earnings yield of roughly 16%. I expect a massive stock buyback after the CCAR results, which would be enormously accretive at current levels. ...
2023-04-16 05:28:34 ET Summary BoA is poised for a strong Q1'23 earnings report based on results from large bank peers. Analysts predict a minimal $0.83 EPS for Q1, and BoA should leap past this estimate. The large bank should report higher credit costs, but the sector didn't ...
2023-04-15 16:10:00 ET Summary Kirk Spano on recent earnings and why big banks are in really good shape. What's really behind market volatility. Schwab absorbing TD Ameritrade is a big deal nobody's talking about. Charting Bitcoin's course. Compelling names in space an...
2023-04-15 11:39:23 ET Summary The large bank sector and the regional bank sector (priced via KBWB and KBWR) have depreciated by similar levels year-to-date. Yet, it appears that deposits are flowing to larger banks because of a 'flight to safety' in the banking sector; JPM's late...
2023-04-15 07:49:54 ET Summary JPMorgan was the first large bank to submit its earnings sheet for Q1’23. The bank’s earnings results prove that there is no financial crisis in the sector. While I see more upside potential with community banks, JPMorgan is a solid...
2023-04-15 04:47:52 ET Summary Citi delivered a stellar Q1 earnings report. Deposits are sticky. I expect Citi Banamex Mexico disposal announcement in the near term. Share buybacks are on the cards from July 2023. Citi is compelling value at less than 60 cents on the d...
2023-04-15 03:35:00 ET Summary One of the first things many people did after SVB hit the news was to pull their money out of their local mom-and-pop banks and put it into one of the banking giants. On April 14, we got some hard data about this trend as the largest banks kicked off...
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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...