Jul. 11, 2024 6:23 PM ETSPY, BAC, JPM, GS, C, MS, WFC, BK, KBE, IAT, VOO, KBWB, DPST, FTXO, WF, SP500-401010By: Carla Mozee, SA News Editor Nikada The second-quarter earnings season will shift into higher gear Friday with some major banks releasing results, and shares of most of a groupContinue Reading
JHVEPhoto Royal Bank of Canada (NYSE:RY), or RBC for short, will split one of its operating units into two and reshuffle some of its top executives as it seeks to spark its next phase of growth, the bank said on Thursday. RBC will separate its Personal & Commercial Banking intoContinue Reading
AFFIN Group partners with ACI Worldwide (NASDAQ:ACIW) to modernise the Bank’s real-time payment capabilities fro Malaysian businesses. Under this partnership, the new enterprise payments platform is designed to streamline and enhance the efficiency of payment processes. “A robust payment infrastructure is a catalyst for innovation and scalable growth. It enablesContinue Reading
Joe Hendrickson/iStock Editorial via Getty Images The Consumer Financial Protection Bureau ordered Fifth Third Bank (NASDAQ:FITB) to pay $20M in penalties in addition to compensating ~35,000 harmed consumers, including ~1,000 who had their cars repossessed, for a range of alleged illegal practices, the regulator said on Tuesday. Fifth Third (FITB)Continue Reading
M. Suhail/iStock Editorial via Getty Images Bank of America Securities started coverage of M&T Bank (NYSE:MTB) with an Overweight rating on Monday as the lender is managing through risks tied to the beaten-down commercial real estate market. MTB has relatively high exposure to the commercial property space, analyst Tom CurcurutoContinue Reading
LewisTsePuiLung/iStock Editorial via Getty Images JPMorgan Chase’s (NYSE:JPM) Marianne Lake said customers should be prepared to pay for their bank accounts, a Wall Street Journal report stated. Lake, who is the CEO of Consumer & Community Banking in the firm and runs the Chase Bank, said the bank is alreadyContinue Reading
LewisTsePuiLung JPMorgan Chase’s (NYSE:JPM) chief global markets strategist Marko Kolanovic is planning to leave the bank, Bloomberg News reported on Wednesday, citing an internal memo it obtained. Kolanovic is perhaps infamously known for his conflicting stock-market calls over the past two years which have differed significantly from Wall Street’s actualContinue Reading
Sean Gallup/Getty Images News Hennes & Mauritz (OTCPK:HNNMY) traded higher in Sweden after Deutsche Bank upgraded the apparel giant to a Buy rating after having it set at sell. Anayst Adam Cochrane said the potential for structural improvement at H&M (OTCPK:HNNMY) is not being fully recognized by the market. “CreditContinue Reading
Bruce Bennett/Getty Images News Seaport Research Partners has upgraded Bank of America’s (NYSE:BAC) rating from “Neutral” to “Buy.” In a Diversified Financials report, senior analyst Jim Mitchell said the team is setting Bank of America’s (BAC) price target at $48, with a 12.5x multiple of 2025 EPS, up from 10.4x.Continue Reading
olddays UBS assigned buy ratings to Royal Bank of Canada (RY)(RY:CA) and National Bank of Canada (NA:CA)(OTCPK:NTIOF) as it initiated coverage of Canadian banks, saying it’s “cautiously optimistic” about the Big Six group of lenders in the country. Canada’s macro picture looks “challenging” with slow economic growth, rising unemployment andContinue Reading
