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How Will The Election Impact The Banking Industry?
Thursday, September 24, 2020 - 7:57am | 1098Read More...It’s a precarious time for banks around the world. In the U.S., financial stocks have grossly underperformed the overall market, as the COVID-19 pandemic has created concerns about increased loan loss provisions and near-zero interest rates. Even community banks, which found some...
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TD Bank, Detroit's Autobooks Launch Online Small Biz Accounting Platform
Wednesday, August 19, 2020 - 1:30pm | 432Read More...TD Bank announced a launch this week of the TD Online Accounting Platform in partnership with the Detroit-based financial accounting company Autobooks. Built for Small Business Owners: TD Bank announced the service as a tool built for small business owners. It can be used with existing...
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Is Buffett Selling Banks, Buying Gold A Warning Sign For Investors?
Tuesday, August 18, 2020 - 11:40am | 680Read More...Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett has always been a huge fan of bank stocks and a vocal critic of gold. Berkshire’s latest 13F filing revealed that Buffett spent the second quarter selling bank stocks like Wells Fargo & Co (NYSE: WFC) and JPMorgan...
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For Banks, There Is No 'Going Back To Normal'
Thursday, August 13, 2020 - 9:05am | 897Read More...Even before Covid-19, banking had been undergoing a gradual shift away from in-person banking. The number of full-service bank branches in the U.S. has been on the decline for a decade, falling from almost 95,000 in 2010 to just over 83,000 last year, data from the FDIC shows. This shift has come...
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Credit Suisse Reports Q2 Earnings Beat
Thursday, July 30, 2020 - 3:49am | 281Read More...Credit Suisse Group AG (NYSE: CS) announced its financial results for the year's second quarter on Thursday, amid a backdrop of structural change at the Swiss bank. The bank posted a net income of $1.27 billion in the quarter, up 24% from the similar period a year ago....
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BofA, Morgan Stanley, Schwab Post Solid Numbers In Challenging Environment: Bank Earnings Roundup
Thursday, July 16, 2020 - 10:11am | 522Read More...A mixed second-quarter earnings for financial sector stocks continued on Thursday with reports from Bank of America Corp (NYSE: BAC), Morgan Stanley (NYSE: MS) and Charles Schwab Corporation (NYSE: SCHW). The trend of strong trading revenue and large loan losses continued Thursday. Here’...
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Fed's Income Test Threatens KeyCorp Dividends, BofA Says In Downgrade
Friday, July 10, 2020 - 10:48am | 342Read More...Shares of KeyCorp Inc (NYSE: KEY) could underperform peers due to the company’s greater risk of a dividend cut and higher exposure to industries facing risk of a default in a coronavirus-led downturn, according to BofA Securities. The KeyCorp Analyst: Erika Najarian downgraded KeyCorp from...
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Analyst Says Fed's Stress Test Measures An 'Earnings Issue'
Friday, June 26, 2020 - 1:43pm | 350Read More...The Federal Reserve's new restrictions on banks' ability to pay dividends and buyback shares is a "big deal," but there are still opportunities for investors, Raymond James analyst Michael Rose said on CNBC's "Worldwide Exchange." What Happened: The Fed's move to...
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Goldman Sachs Executive Writes To Colleagues Asking For Racial Equality At Lower Levels
Friday, June 5, 2020 - 5:25am | 547Read More...Goldman Sachs Group Inc. (NYSE: GS) Managing Director Frederick Baba on Thursday wrote a letter to his colleagues describing his thoughts in the aftermath of George Floyd's death and the resultant protests. Shares Impact of Racism From Early Life In The US "To everyone who's asked me...
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15 US Banks Facing Currency Rigging Lawsuit Brought By Large Investors
Friday, May 29, 2020 - 8:30am | 394Read More...Institutional investors such as BlackRock Inc. (NYSE: BLK) and Allianz SE’s (OTC: ALIZF) Pacific Investment Management Co. have received the legal go-ahead to pursue their lawsuit against 15 large banks for price rigging in the foreign exchange markets. What Happened A Manhattan judge has...
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Jamie Dimon Says JPMorgan Chase 'Will Earn Quite A Bit Of Money' In 2020
Wednesday, May 27, 2020 - 10:12am | 445Read More...JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon spoke during the Deutsche Bank Global Financial Services Conference Tuesday and argued the bank's stock is "very valuable" at current levels, CNBC reported. JPMorgan Will Make Money, Dimon Says A "base case" for...
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JPMorgan Option Trader Bets $4M On Downside Ahead
Wednesday, May 20, 2020 - 3:37pm | 906Read More...Shares of JPMorgan Chase & Co. (NYSE: JPM) traded higher Wednesday as traders become increasingly optimistic that a combination of Federal Reserve stimulus and a potential COVID-19 vaccine can help big banks weather the economic downturn and get back on track — even with interest...
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PreMarket Prep Stock Of The Day: JPMorgan
Friday, April 17, 2020 - 5:21pm | 785Read More...Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given...
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KeyCorp's Q1 Draws Mixed Analyst Reviews, Stock Heads Higher
Friday, April 17, 2020 - 3:06pm | 502Read More...KeyCorp (NYSE: KEY) reported first-quarter earnings of 12 cents per share Thursday, significantly missing the consensus estimate of 32 cents per share. The bank posted a higher provision expense in the quarter of $359 million. BofA Securities Drops Bullish KeyCorp Stance ...
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JPMorgan Posts Q1 Sales Beat, Earnings Miss, Builds Credit Reserve For Recession
Tuesday, April 14, 2020 - 8:18am | 268Read More...JPMorgan Chase (NYSE: JPM) reported first-quarter earnings of 78 cents per share Tuesday, missing the consensus estimate of $1.84. The bank posted sales of $28.3 billion and managed sales of $29.1 billion versus the $29.67-billion estimate. “In the first-quarter, the...
