The big news in bank earnings for stocks as a whole: JPM and Citi are suspending stock buybacks
Given the big role that stock buybacks play in sustaining rallies and driving stock prices higher, news in earnings reports this past week that both Citigroup (C) and JPMorgan Chase (JPM) are suspending their stock buyback programs is a big deal. Not just for these...
Selling Citigroup out of my Dividend Portfolio after Friday’s 13% pop
Shares of Citigroup climbed by 13.23% on Friday, July 15, after the company reported earnings of $2.19 a share. Revenue came in at $19.6 billion. Wall Street had projected earnings of $1.689 a share and revenue of $18.4 billion. So it’s not surprising that the...
Trimming bank stocks ahead of earnings: Selling WFC and KBWB ETF
Just want to make sure that no one missed the sell recommendations in yesterday’s Saturday Night Quarterback post on my subscription JubakAM.com site. Big banks will kick off another earnings season beginning with JPMorgan Chase (JPM) on Wednesday, April 13....Big banks deliver mixed start to Q4 earnings season with JPMorgan down and Wells Fargo up
Sing along: One of these banks is not like the others. One of these banks doesn’t belong. This morning big money center banks JPMorgan Chase (JPM) and Citigroup (C) delivered disappointing reports on fourth quarter revenue and earnings. Shares of JPMorgan Chase...
Big bank earnings this week won’t tell us what we need to know about this quarter’s reports
Big bank earnings arrive on Wednesday and Thursday but, unfortunately, they won’t tell us anything useful about the margin pressures from rising global supply chain shipping costs or higher prices for raw materials. Those are the factors that could produce a...
With Fed stress test behind them, banks announce deluge of dividend increases and share buybacks
That didn’t take long. On Thursday the Federal Reserve reported that all 23 big banks tested in its annual stress test, passed. Which means that the last remaining restrictions on dividend increases and share buybacks are now history. Yesterday big banks started...
Market response to blow-out bank earning shows somebody is still paying attention to the fundamentals
JPMorgan Chase, (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) all blew away Wall Street earnings estimates when they reported first quarter results on Wednesday and Thursday this week. But with the exception of Wells Fargo, bank shares fell or...
The financial market is feeling better today about risk–time to put on your worry hat?
You can judge the stock market’s mood pretty accurately today, Tuesday, March 30, from just a few price movements. Take a look at the performance of bank stocks, the small cap Russell 2000, the CBOE VIX “fear index,” and technology stocks to see...
Bank stocks were just about the only thing in the green yesterday–which is why I added U.S. Bancorp to Jubak Picks on Friday (plus some thoughts on bank stock option plays)
Financial Select Sector SPDR ETF (XLK) was up 0.52% yesterday, March 18, when almost everything else finished in the red. The Invesco KBWB Bank ETF (KBWB) was ahead 1.14%. Citigroup (C) gained 0.33%. Bank of America (BAC) was ahead 2.61%. U.S. Bancorp (USB) added...
Adding Citigroup to my Dividend Portfolio as 7th pick in my JubakAM.com Dividend Stocks Special Report
Let’s follow the template from Omnicom, my previous dividend pick, okay? The dividend yield on Citigroup is 3.48% against the five-year average yield of 1.96%. The current price-to-earnings ratio is 10.03 versus the five-year average of 10.17. The current price...
Earnings season starts tomorrow morning with JPMorgan Chase and Citibank
The big banks kick off third quarter earnings reports tomorrow, Tuesday, October 13 with JPMorgan Chase (JPM) due to report before the open. The analyst consensus is that the bank will earn $1.93 a share, down from the $2.68 a share earnings in the September quarter...
Banks start off earnings season by pouring cold water on V-shaped recovery
“I don’t think anybody should leave any bank earnings call this quarter simply feeling like the worst is absolutely behind us and it’s a rosy path ahead,” Citigroup (C) CEO Michael Corbat said this morning as he announced the bank’s second quarter earnings. “We...
Big banks face Fed stress test this week
What’s a week without a good chance that the Federal Reserve will roil the stock market? On Thursday June 25, the Federal Reserve will release results of its annual bank stress tests on June 25. At stake will be bank plans for dividend payouts. Banks that...
Bet you’ve forgotten: Earnings season starts next week with the big banks
What with everything going 0n, I wouldn’t be surprised if the start of earnings season next week has slipped your mind. Reports of fourth quarter earnings are actually fairly important this year because stocks trade near all time highs and estimates say that...
At least someone wants to buy TD Ameritrade–can we say the same for Citibank?
Interesting column by Matt Levine on Bloomberg Opinion today. In the piece “Schwab Broke Ameritrade to Buy It” he points out that the acquisition bid from Charles Schawb (SCHW) today to buy TD Ameritrade (AMTD) for a reported $26 billion comes after...
Citigroup begins fourth quarter earnings season with a revenue miss
This morning Citigroup (C) kicked off earnings season for the big banks and stocks in general with a report that first, argued that the banking sector hasn’t fixed its big problem–no toppling revenue growth–and, second, that those traders and...Estimates for bank earnings continue to move lower ahead of next week’s earnings reports
Bank stocks aren’t doing badly today ahead of the start of earnings reports from the biggest banks starting on Monday. But to me it looks like today’s slightly upward bias is a bet not on good earnings but that analysts have gone too far with their cuts to...
Selling Citigroup out of my Dividend Portfolio
I’ve done a decent job in 2018 of staying away from the plunging financial sector–except in my Dividend Portfolio. There, sucked (or “suckered” if you prefer) by high dividend yields and the prospects of rising net interest margins as the Federal Reserve raised...
Reaction to JPM Chase earnings today small red flag for continued earnings season rally
The reaction to Wells Fargo (WFC) earnings released before the open this morning was perfectly fitting. The bank lagged its peers again on key metrics (revenue fell 3.1% year over year and earnings per share were down 9% as average loans fell 1%) and the stock was...
I’m adding Citigroup to my Dividend Portfolio
Citigroup (C) is among the big banks that passed the most recent stress test from the Federal Reserve. That means the bank can go ahead with its plans to raise its quarterly dividend to 45 cents from 32 cents and to buyback $17.6 billion in shares. The plan would take...
Oil stumbles, banks retreat: So where’s the leader for the next rotation?
Oil prices fell today with U.S. benchmark West Texas Intermediate falling 1.29% to $50.64 a barrel and international benchmark Brent crude down 1.11% to $56.31 a barrel. Oil prices were even lower in the early going with West Texas Intermediate touching $50.23 a...
Financials continue to rally in wake of reports of less damage than expected in Florida from Irma
Yesterday forecasts of lower than expected damage from Hurricane Irma were enough to light a fire under shares of insurance companies, the Financial Select Sector SPDR (XLF) and the market as a whole. Yesterday shares of Swiss RE and Munich RE, two re-insurers that...
Today’s bank earnings and market reaction a mixed bag–which is an improvement from Friday’s pessimism
More big bank earnings today–and, fortunately, they were a mixed bag. Which made them markedly better than Friday’s results. Bank of America’s (BAC)’s second-quarter earnings per share rose 12% to 46 cents, beating by 3 cents a share. Revenue...
Earnings season kicks off this week: Are expectations low enough? Bank stocks will tell on Friday
For all intents and purposes second quarter earnings season kicks off on Friday. Yes, PepsiCo (PEP) does report on Tuesday and Delta Air Lines speaks on Thursday, but the real bellwether earnings reports come from the big banks on Friday with earnings from Citigroup...
Solid earnings beats from Citigroup and JPMorgan Chase barely push S&P 500 into the green
Two out of three of the big banks reporting first quarter earnings this morning beat Wall Street estimates. Citigroup (C) reported earnings of $1.35 a share, 11 cents a share above the Wall Street consensus. JPMorgan Chase (JPM) reported earnings of $1.65 a share, 12...
U.S. markets decide not to go anywhere ahead of the weekend
U.S. stocks stabilized today–thanks to better than expected earnings from Citigroup (C) and JPMorgan Chase (JPM) and, well, Friday. The Standard & Poor’s 500 stock index closed up 0.02%. U.S. crude oil benchmark West Texas Intermediate fell 0.24% but...
Earnings from JPMorgan Chase show strong U.S. economy
Second quarter earnings results announced this morning by JPMorgan Chase (JPM) held solidly good news for the U.S. economy. Not as much good news for the bank and the banking sector in general, though. JPMorgan Chase is the first of the big banks to report with...
U.S. stocks pause ahead of earnings
Not terribly surprising that U.S. stocks are meandering in slightly negative territory today after busting out to new all-time highs. (The Standard & Poor’s 500 stock index was off 0.09% at the close in New York.) We’re about to head into the meat of...Buy Citigroup (C)
In the long term, I’m not especially interested in owning Citigroup (C). I think the bank’s consumer banking business, once it’s strength, has turned into an also ran. Its capital needs forced it to put its Smith Barney brokerage business into a strange joint venture...Jim’s Daily Email Alerts:
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