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“There is lack of short-term catalysts, but for patient investors this is a unique entry point,” says Mike Mayo, a banking analyst with (WFC) who has been bullish on the group. “Book value is solid, and we think the third-quarter earnings reports will show book-value growth.” JPMorgan, at $92.74, is off 33% so far in 2020, and Bank of America, at $23.20, is down 34%.
FedEx stock has soared 55% this year, a standout in the Covid era. Now it’s time to get creative about the upside. Consider a “costless booster” in the options market.
European banks and investment funds that want a base in Britain after Brexit must have sufficient senior staff on the ground so they can be properly supervised, the Financial Conduct Authority said on Wednesday. Britain has left the European Union and transition arrangements end in December, after which financial companies from the EU will need authorisation to operate in Britain as a branch or subsidiary. The British government is keen to keep its markets open to maintain the City of London as a major global financial centre, and is due shortly to propose legislation to this end.