Selling U.S. Bancorp out of my Jubak Picks Portfolio
Back on April 11 when I sold Wells Fargo (WFC) and the Invesco KBW Bank ETF (KBWB) out of portfolios to reduce my exposure to a slowing economy caused by the Federal Reserve interest rate increases, I kept my position in U.S. Bancorp (USB) because I wanted to collect...
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...
Buying Wells Fargo in Jubak Picks ahead of earnings
Wells Fargo (WFC) is scheduled to report fourth quarter 2021 earnings on Friday, January 14. The bank is expected to be one of the few big money center banks to show a significant increase in earnings for the lat quarter of 2021 from the fourth quarter of 2020 (when...
Watch my new YouTube video: Quick Pick Wells Fargo
I’m starting up my videos again–this time using YouTube as a platform. My seventy-fourth YouTube video “Quick Pick Wells Fargo” went up today. Please watch and subscribe to my YouTube channel. And like my video. Here’s the...
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...
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...
Fed to end restrictions on bank dividends, share buybacks at end of June
U.S. banks that pass their next stress tests will allowed to raise their dividends after June 30, the Federal Reserve said yesterday, March 25. The Fed will also lift any remaining restrictions on stock buybacks. Limits on dividend payouts to investors and share...
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...
Stocks lose much of early enthusiasm but still finish in the green
Stocks moved up modestly this morning (modest considering the damage down in the last few days) with the Standard & Poor’s 500 up 0.99% at 1 p.m. New York time, the Dow Jones Industrial Average ahead 0.94%, and the NASDAQ Composite gaining 1.16%. The move...
At the most serious end, the mortgage delinquency problem is getting worse
The overall number of borrowers delinquent on their mortgages fell by 340,000 in July. That’s down by 9% from June. (These are figures from Black Knight, which collects delinquency numbers monthly. The Mortgage Bankers Association, on the other hand, releases...
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...Wells Fargo says it will cut its current dividend after Fed stress test
Wells Fargo (WFC) said today that it will cut its current 51-cent dividend after the Federal Reserve’s most recent round of stress tests set new limits on dividend payouts and share buybacks. The bank said it will announce the size of the cut on July 14 when it...
Fed’s stress test for 34 big U.S. banks says no share buybacks, no increases in dividends
After the close for the New York markets, the Federal Reserve announced the results of its newest round of stress tests on 34 big U.S. banks. For the first time, the Fed added scenarios for a V-shaped recession and recovery; a slower, U-shaped recession and recovery;...
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...
Wells Fargo and JPMorgan Chase stop accepting applications for home equity loans
As economic indicators go, this isn’t one that I follow in normal times. In normal times banks are happy to accept an application for a home equity loan from anyone who owns a house. Real estate is a good credit risk. In normal times. But if you’re still...
Markets have a case of the earnings season “nerves” today
As of 1 p.m. New York time the Standard & Poor’s 500 is down 1.88% and the Dow Jones Industrial Average is off 2.14%. The NASDSQ Composite is lower by 0.79% and the Russell 2000 small cap index has tumbled 2.80%. The iShares MSCI Emerging Markets ETF (EEM)...
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...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...
Market reaction to big bank earnings not good way to start earnings season
Earnings from Citibank (C), JPMorgan Chase (JPM), and Wells Fargo (WFC looked solid this morning but the more the market thought about them the more disappointed it got. The Financial Sector Select SPDR ETF (XLF) was up 1.6% in the early going but as of 2:30 p.m. New...
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...
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...
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...The mortgage foreclosure "robo signers" could cost banks big money–because of put backs
Add another word to English as spoken on Wall Street: robo signer. These are the folks at banks and mortgage servicing companies who signed hundreds of foreclosure documents a day. Frequently they didn’t read them at all. Even more frequently they didn’t bother to...Saving the big banks but destroying banking
There have been no obituaries. No eulogies. No burial services. But this quarter marks the death of traditional bank at the big money center banks. Oh, I know we’ve seen amazing earnings reports from the likes of Goldman Sachs (GS) and JPMorgan Chase (JPM) this...Bad mortgages get worse at Wells Fargo stretching out schedule for paying back $25 billion bailout
Fear of the future trumps current earnings, as far as investors are concerned, when it comes to Wells Fargo (WFC). On July 22, before the opening bell, the company reported second quarter earnings of 57 cents a share–far above the 34 cents a share Wall Street...Jim’s Daily Email Alerts:
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