NEW YORK, October 26, 2016 /PRNewswire/ --
Companies in the Money Center Banking space conduct their borrowing and lending activities with governments, large corporations, and regular banks, and are often located in major economic centers. This industry belongs to the Financial sector which ended slightly lower on Tuesday, October 25, 2016, with the NYSE Financial Sector Index dropping 0.2%, and financial companies in the S&P 500 Index retreating by about 0.1%. Pre-market, Stock-Callers.com has lined up four equities for review: ICICI Bank Ltd (NYSE: IBN), SunTrust Banks Inc. (NYSE: STI), Comerica Inc. (NYSE: CMA), and Canadian Imperial Bank of Commerce (NYSE: CM). Learn more about these stocks by downloading their comprehensive and free reports at:
At the close on Tuesday, shares in Mumbai, India-based ICICI Bank Ltd declined 1.84%, ending the day at $8.54. The stock recorded a trading volume of 19.28 million shares, which was above its three months average volume of 10.04 million shares. The Company's shares have advanced 9.35% in the last one month, 7.02% in the previous three months, and 11.36% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 10.21% and 21.21%, respectively. Moreover, shares of ICICI Bank, which together with its subsidiaries, provides banking and financial services in India and internationally, have a Relative Strength Index (RSI) of 65.96.
On October 24th, 2016, research firm Goldman upgraded the Company's stock rating from 'Neutral' to 'Buy'. IBN complete research report is just a click away and free at:
Shares in Atlanta, Georgia headquartered SunTrust Banks Inc. ended the day 0.62% lower at $45.17. A total volume of 3.99 million shares was traded, which was higher than their three months average volume of 3.24 million shares. The stock has gained 5.74% in the past month, 7.31% over the previous three months, and 7.42% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 2.64% and 12.73%, respectively. Furthermore, shares of SunTrust Banks, which operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the US, have an RSI of 52.68.
On October 11th, 2016, research firm FBR & Co. resumed its 'Outperform' rating on the Company's stock, issuing a target price of $49 per share.
On October 21st, 2016, SunTrust Banks reported that net income available to common shareholders for Q3 2016 was $457 million, or $0.91 per average common diluted share, compared to $1.00 for Q3 2015. Total revenue increased 8% compared to the Q3 2015. Net interest margin was 2.96% in the reported quarter, up 2 basis points compared to Q3 2015. The complimentary report on STI can be downloaded at:
On Tuesday, shares in Dallas, Texas headquartered Comerica Inc. finished 0.17% higher at $51.80 with a total trading volume of 1.78 million shares. The stock has advanced 13.30% in the last one month, 14.19% over the previous three months, and 25.80% on an YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 9.45% and 24.02%, respectively. Additionally, shares of Comerica, which through its subsidiaries, provides various financial products and services, have an RSI of 69.69.
On October 18th, 2016, Comerica reported Q3 2016 net income of $149 million compared to $136 million for Q3 2015. Earnings per diluted share were $0.84 for Q3 2016 compared to $0.74 for Q3 2015. Comerica also continued the implementation of its efficiency and revenue initiative ("GEAR Up"), which is expected to drive additional annual pre-tax income of approximately $180 million by year-end 2017 and $270 million by year-end 2018.
On October 19th, 2016, research firm RBC Capital Markets reiterated its 'Outperform' rating on the Company's stock with an increase of the target price from $49 a share to $56 a share. Sign up for your complimentary research report on CMA at:
Canadian Imperial Bank of Commerce
Toronto, Canada headquartered Canadian Imperial Bank of Commerce's shares recorded a trading volume of 324,071 shares at the end of yesterday's session and closed the day at $75.28, gaining 0.07%. The stock has advanced 1.29% in the previous three months and 18.44% since the start of this year. The Company's shares are trading above their 200-day moving average by 3.24%. Additionally, shares of Canadian Imperial Bank of Commerce, which provides various financial products and services to individuals and small businesses; and commercial, corporate, and institutional clients in Canada and internationally, have an RSI of 40.75.
On October 25th, 2016, the company announced that clients can now send money to the USs with no up-front transfer fees, giving Canadians a faster and less expensive way to move money to the US. Get free access to your research report on CM at:
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