NEW YORK, April 21, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC) and American International Group Inc. (NYSE: AIG). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1357-100free.
Bank of America Corp. Analyst Notes
On April 16, 2014, shares of Bank of America Corp. (Bank of America) fell as much as 3.7%, after it reported its first quarterly loss since Q2 2011 due to a $6 billion charge to cover lawsuit expenses. The Bank reported Q1 2014 total revenue (net of interest expense) of $22.6 billion, down 2.7% YoY. Net loss was $276 million, or $0.05 per diluted share, as against a net income of $1.5 billion, or $0.10 per diluted share in Q1 2013. On March 26, 2014, after the results of stress test by the Fed, and subsequent approval of capital plans, Bank of America announced that it will increase its quarterly dividend to $0.05 per share, beginning in Q2 2014. The full analyst notes on Bank of America are available to download free of charge at:
Citigroup Inc. Analyst Notes
On April 14, 2014, shares of Citigroup Inc. (Citigroup) reacted positively to its Q1 2014 financial results, which came ahead of street expectations. Citigroup's net income rose 3.5% YoY to $3.9 billion, or $1.23 per share, on revenue of $20.1 billion. Analysts polled by Bloomberg had expected EPS of about $1.13. Adjusted EPS was $1.30. During the quarter, the estimated Basel III Tier I capital ratio was 10.4%, compared to estimated Basel III Tier I capital ratio of 9.3% in Q1 2013. Shares of Citigroup ended the trading session at $47.67, up 4.36% from its previous day's close. A total of 51.97 million shares were traded, much higher than the previous day trading volume of 31.06 million shares. The full analyst notes on Citigroup are available to download free of charge at:
JPMorgan Chase & Co. Analyst Notes
On April 15, 2014, JPMorgan Chase & Co. (JPMorgan) announced dividends on certain outstanding shares of preferred stock issues. The Company has declared dividend on the following: $137.50 per share on 5.50% Non-Cumulative Preferred Stock, Series O; $136.25 per share on 5.45% Non-Cumulative Preferred Stock, Series P; and c.$225.19 per share on 6.70% Non-Cumulative Preferred Stock, Series T. The Company informed that the dividend payment date for the above mentioned preferred stock is June 1, 2014, and the dividend will be paid on June 2, 2014, to stockholders of record at the close of business on May 2, 2014. In a separate press release dated April 11, 2014, JPMorgan released its Q1 2014 financial results. Net income fell to $5.3 billion, or $1.28 per share, from $6.5 billion, or $1.59 per share, in Q1 2013. Analysts on average had expected earnings of $1.40 per share, according to Thomson Reuters. The full analyst notes on JPMorgan are available to download free of charge at:
Wells Fargo & Co. Analyst Notes
On April 11, 2014, Wells Fargo & Co. (Wells Fargo) released its Q1 2014 results. The Company reported Q1 2014 total revenue of $20.6 billion, down 3.0% YoY. Net income came in at $5.9 billion or $1.05 per diluted share, compared to a net income of $5.2 billion or $0.92 per share in Q1 2013. The earnings beat analyst estimates of $0.96 per share, as surveyed by Bloomberg. During the quarter, the Company's Community banking segment income improved 31.5% YoY to $3.8 billion, primarily due to lower mortgage banking revenue, partially offset by higher net interest income and equity investment gains. The rise in Community banking segment income was offset by a 14.8% YoY decline in net income from Wholesale banking segment to $1.7 billion. During the quarter, the Common Equity Tier 1 capital ratio was 11.36%, better than the Q1 2013 ratio of 10.39%. The full analyst notes on Wells Fargo are available to download free of charge at:
American International Group Inc. Analyst Notes
On April 15, 2014, American International Group Inc.'s (AIG) stock moved up 0.54% to end the trading session at $49.84, extending its gain from the previous trading session. The rise in AIG's stock was in line with the S&P 500 Index that moved up 0.68% over the same day. AIG's stock opened the session at $49.66 and fluctuated between $49.02 and $50.09. The stock has a 52-week high of $53.33 and a 52-week low of $38.05. Over the past twelve months, the stock has gained 25.99% outperforming the S&P 500 Index that returned 17.05% over the same time period. AIG will report its Q1 2014 earnings on May 5, 2014, followed by a conference call on, May 6, 2014, at 8:00 a.m. EDT. The full analyst notes on AIG are available to download free of charge at:
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