Wells Fargo & Co. (NYSE:WFC), a bellwether for the mortgage and housing sector, is expected to report a rise in profit in the first quarter of 2014, largely from strong expense control and less so from the release of reserves set aside for bad loans as higher rates have continued to eat into the bank’s lucrative mortgage business. Wells Fargo & Co (NYSE:WFC), shares after opening at $49.22 moved to $49.22 on last trade day and at the end of the day closed at $47.71. Company price to sales ratio in past twelve months was calculated as 5.32 and price to cash ratio as 0.79. Wells Fargo & Co (NYSE:WFC), showed a negative weekly performance of 4.25%.
Citigroup Inc (NYSE:C) has warned investors that it may not be able to achieve its goal of returning more than 10% on tangible common equity in 2015. Citigroup failed the CCAR 2014 last month due to quantitative reasons after which the Federal Reserve rejected its capital plan. Citigroup’s rejected plan included quintupling its dividends to five cents per share and increasing the share buyback authorization to $6.4 billion. Citigroup Inc (NYSE:C), shares fell 1.97% in last trading session and ended the day on $46.23. Citigroup Inc (NYSE:C), return on equity ratio is recorded as 8.60% and its return on assets is 0.90%. Citigroup Inc (NYSE:C), yearly performance is 3.12%.
JPMorgan Chase & Co. (NYSE:JPM), the nation’s biggest bank by assets, is expected to report a 11.2 percent decrease in earnings per share in the first quarter of the year as a result of lower trading activities through February. JPMorgan Chase & Co. (NYSE:JPM), shares moved down 3.16% in last trading session and was closed at $57.40, while trading in range of $ 57.38 – 59.39. JPMorgan Chase & Co. (NYSE:JPM), year to date (YTD) performance is -0.59%.
Bank of America says it’s cutting about 3,000 jobs overseas as part of ongoing reviews of its global operations. Bank of America Corp (NYSE:BAC), weekly performance is -6.01%. On last trading day company shares ended up $16.12. Bank of America Corp (NYSE:BAC), distance from 50-day simple moving average (SMA50) is -4.39%. Analysts mean target Price for the company is $17.54.
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