NEW YORK, November 30, 2016 /PRNewswire/ --
Today, Stock-Callers.com has lined up four Money Center Banking equities for review which are: Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), Citigroup Inc. (NYSE: C), and JPMorgan Chase & Co. (NYSE: JPM). In the third quarter of 2016, the industry's EBITDA grew by 2.36% sequentially, whereas its total debt decreased. Consequently, its debt coverage ratio improved to 1.21, which is a new industry high. Learn more about these stocks by accessing their free research reports at:
Bank of America
Charlotte, North Carolina-based Bank of America Corp.'s shares declined 0.05%, closing Tuesday's trading session at $20.29. The stock recorded a trading volume of 114.00 million shares, which was above its three months average volume of 104.94 million shares. Shares of the Company have advanced 21.64% in the last month, 25.91% in the previous three months and 21.99% on an YTD basis. The stock is trading 18.59% above its 50-day moving average and 37.06% above its 200-day moving average. Additionally, 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 72.22.
On October 27th, 2016, Bank of America's Board of Directors declared a regular quarterly cash dividend on its common stock of $0.075 per share, payable on December 30th, 2016 to shareholders of record as of December 02nd, 2016. The board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable January 25th, 2017 to shareholders of record as of January 11th, 2017.
Yesterday, research firm Keefe Bruyette upgraded the Company's stock rating from 'Market Perform' to 'Outperform'. Free research report on BAC is available at:
On Tuesday, shares in San Francisco, California headquartered Wells Fargo & Co. recorded a trading volume of 16.25 million shares. The stock rose 0.54%, ending the day at $51.86. The Company's shares have advanced 13.11% in the last month and 3.30% over the previous three months. The stock is trading above its 50-day and 200-day moving averages by 10.88% and 9.07%, respectively. Furthermore, shares of Wells Fargo, which provides retail, commercial, and corporate banking services to individuals, businesses, and institutions, have an RSI of 64.97.
On November 23rd, 2016, Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, announced that its Wells Fargo Income Opportunities Fund, Wells Fargo Utilities and High Income Fund, and Wells Fargo Global Dividend Opportunity Fund, will extend their open-market share repurchase programs. The funds' Boards of Trustees have authorized the repurchase of an aggregate of up to 10% of each fund's outstanding shares in open-market transactions during the period beginning December 17th, 2016, ending December 31st, 2017.
On November 28th, 2016, research firm Jefferies downgraded the Company's stock rating from 'Buy' to 'Hold'. The complimentary research report on WFC can be downloaded at:
New York-based Citigroup Inc.'s stock finished the day 0.09% higher at $55.52 and with a total trading volume of 15.72 million shares. The Company's shares have advanced 12.40% in the last one month, 16.29% in the previous three months and 8.28% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 11.08% and 22.67%, respectively. Additionally, shares of Citigroup, which provides various financial products and services for consumers, corporations, governments, and institutions worldwide, have an RSI of 67.80.
On November 21st, 2016, Citigroup announced that it will increase its common stock repurchase program by up to $1.75 billion. This amount is in addition to the $10.4 billion in planned capital actions announced earlier this year, which include an increase of Citi's quarterly common stock dividend to $0.16 per share and a common stock repurchase program of up to $8.6 billion.
On November 28th, 2016, research firm Jefferies downgraded the Company's stock rating from 'Buy' to 'Hold'. Visit us today and access our complete research report on C at:
Shares in New York headquartered JPMorgan Chase & Co. ended yesterday's session 0.77% higher at $78.92. The stock recorded a trading volume of 14.14 million shares. The Company's shares have advanced 14.19% in the last one month, 17.77% over the previous three months and 23.05% on an YTD basis. The stock is trading 12.22% and 23.53% above its 50-day and 200-day moving averages, respectively. Moreover, shares of JPMorgan Chase, which operates as a financial services company worldwide, have an RSI of 74.15.
On November 09th, 2016, research firm Robert W. Baird downgraded the Company's stock rating from 'Outperform' to 'Neutral', issuing a target price of $72 per share. Get free access to your research report on JPM at:
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