NEW YORK, October 17, 2016 /PRNewswire/ --
Stock-Callers.com directs investors' attention to the following Money Center Banks: Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), Citigroup Inc. (NYSE: C), and JPMorgan Chase & Co. (NYSE: JPM). These equities belong to the financial sector which was higher in pre-market trade on Friday, October 14, 2016, due to strong Q3 earnings reports from several banking stocks. Learn more about these stocks by accessing their free research reports at:
Bank of America
Shares in Charlotte, North Carolina-based Bank of America Corp. ended Friday's session 1.07% higher at $16.00. A total volume of 108.35 million shares was traded, which was above their three months average volume of 82.30 million shares. The stock has advanced 2.11% in the last month and 13.92% over the previous three months. The Company's shares are trading 3.04% above their 50-day moving average and 12.86% above their 200-day moving average. Moreover, shares of Bank of America, which through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide, have a Relative Strength Index (RSI) of 56.74.
On October 06th, 2016, Bank of America announced that John Thiel, current head of Merrill Lynch Wealth Management, has decided to step down from his position and will take on a new role as vice chairman of Global Wealth and Investment Management, effective January 1st, 2017. Andy Sieg, current head of the company's Global Wealth and Retirement Solutions division, will succeed Thiel as head of Merrill Lynch Wealth Management, effective January 1st, 2017. Free research report on BAC is available at:
San Francisco, California headquartered Wells Fargo & Co.'s stock saw a slight drop of 0.09%, closing the day at $44.71. A total volume of 45.40 million shares was traded, which was higher than their three months average volume of 24.88 million shares. The Company's shares are trading 5.50% below their 50-day moving average. Additionally, shares of Wells Fargo, which provides retail, commercial, and corporate banking services to individuals, businesses, and institutions, have an RSI of 39.44.
On October 04th, 2016, research firm Raymond James downgraded the Company's stock rating from 'Market Perform' to 'Underperform'.
On October 14th, 2016, Wells Fargo reported net income of $5.6 billion, or $1.03 per diluted common share, for Q3 2016 compared to $5.8 billion, or $1.05 per share, for Q3 2015. Wells Fargo's net interest income in Q3 2016 increased $219 million from Q2 2016 to $12.0 billion, while its net interest margin was 2.82%, down 4 basis points from Q2 2016. The complimentary research report on WFC can be downloaded at:
Last Friday, shares in New York-based Citigroup Inc. gained 0.29%, closing the session at $48.61. The stock recorded a trading volume of 28.29 million shares, which was higher than its three months average volume of 17.43 million shares. Shares of the Company, which provides various financial products and services for consumers, corporations, governments, and institutions worldwide, have advanced 3.25% in the last one month and 9.46% over the previous three months. The stock is trading 3.38% above its 50-day moving average and 10.42% above its 200-day moving average. Furthermore, Citigroup's shares have an RSI of 57.78.
On October 14th, 2016, Citigroup reported net income for Q3 2016 of $3.8 billion, or $1.24 per diluted share, on revenues of $17.8 billion compared to net income of $4.3 billion, or $1.35 per diluted share, on revenues of $18.7 billion for Q3 2015. Citigroup's loans were $638 billion as of Q3 2016, up 2% from the prior year's period. Citigroup's deposits were $940 billion as of quarter end, up 4% both on a reported basis and in constant dollars. Visit us today and access our complete research report on C at:
New York headquartered JPMorgan Chase & Co.'s shares finished the session 0.32% lower at $67.52. A total volume of 24.09 million shares was traded, which was above their three months average volume of 13.38 million shares. The stock has advanced 2.06% in the last month, 6.33% over the previous three months, and 5.27% on YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 1.99% and 9.77%, respectively. Additionally, shares of JPMorgan Chase, which operates as a financial services company worldwide, have an RSI of 56.07.
On October 06th, 2016, research firm Sandler O'Neill downgraded the Company's stock rating from 'Buy' to 'Hold'.
On October 14th, 2016, JPMorgan Chase reported net revenue of $24.7 billion for Q3 2016 compared to net revenue of $22.8 billion for Q3 2015. The company's net income was $6.3 billion, a decrease of 8% on y-o-y basis, while net interest income was $11.9 billion, up 6% compared to Q3 2015. Get free access to your research report on JPM at:
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