|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||69.10 - 70.61|
|52 Week Range||57.55 - 80.70|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 13, 2018|
|Forward Dividend & Yield||1.28 (1.83%)|
|1y Target Est||83.89|
Yahoo Finance's Jared Blikre and Alexis Christoforous break down the latest market action.
While the banks' first-quarter ROEs were strong, a significant chunk of the strength stemmed not from growth in the banks' operations, but from the sharply lower tax rates they're now enjoying because ...
Bitcoin and other virtual coins were higher on Thursday, while cryptocurrency hedge funds reported massive losses in the first quarter of 2018. Bitcoin was trading at $8,250.5, rising 1.77% as of 9:00 AM ET (1:00GMT) on the Bitfinex exchange. While Bitcoin was higher, it was still far from its peak of $20,000 in December.
Investment and commercial banks (XLF) were expected to benefit from higher trading revenues and lower taxes in 1Q18. All major bankers have beat estimates, reflecting strong operating performance and comfort from lower taxes. Among major bankers, Goldman Sachs (GS) commands a mixed rating outlook, with 10 out of 27 analysts calling for “strong buy or buy” ratings. Fifteen analysts have given “neutral” ratings, and four have assigned “underperform.”
Citigroup Inc. found itself in an unusual position in Asia at the end of the first quarter—at the top of league tables for stock underwriting and related activities in the region.
JPMorgan Chase’s (JPM) Commercial Banking segment posted revenue of $2.2 billion in 1Q18, up 7% from 1Q17. The segment managed higher revenue on net interest income growth of 14% partially offset by lower investment banking revenue.
The bank posted net revenues of $4.4 billion in 1Q18 for the Institutional Client Services or ICS segment, growth of 85% from 4Q17 and 31% from 1Q17, reflecting a strong rebound from laggard performance in 2H17. The ICS segment’s fixed income, currencies, and commodities trading revenues increased 23% to $2.07 billion, helped by currencies, higher commodity prices, and credit products and partially offset by rates and mortgages. Goldman has taken advantage of higher fluctuations in products outside of equities, and it managed to get an edge over other bankers.
Citigroup Inc. will hold its 2018 Annual Stockholders' Meeting on Tuesday, April 24, 2018, at 9 a.m. CDT at The Great Hall of the Congress Plaza Hotel in Chicago, IL.
For the first quarter, Wintrust Financial Corp (NASDAQ:WTFC) continued its winning ways. Wintrust Financial Corp likes to refer to itself as the “alternative” to the big banks like Bank of America Corp (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc (NYSE:C).
JPMorgan Chase’s (JPM) Corporate and Investment Bank (or CIB) segment managed net revenue of $10.5 billion in 1Q18, higher than its revenues of $9.6 billion in the previous year and $7.5 billion in the previous quarter.
Goldman Sachs (GS) posted its strongest quarterly numbers in three years. The investment banking giant posted earnings per share or EPS of $6.95, compared to estimates of $5.58, helped by lower taxes, a rebound in trading, and debt underwriting. It boosted shareholder payouts, with dividends rising to $0.80 per share and repurchases totaling $800 million.
JPMorgan Chase (JPM) posted EPS (earnings per share) of $2.37 in 1Q18, beating analysts’ estimate of $2.28 aided by tax cuts, higher investment banking and trading revenues, banking growth, and higher interest spreads and partially offset by the subdued performance of its Asset Management segment. The bank posted revenue of $28.5 billion, up 11% on a sequential basis and 10% on a YoY (year-over-year) basis.