The US Federal Reserve has disallowed Citigroup Inc (NYSE:C) from increasing dividends and expanding its share repurchase program over concerns regarding the quality of the bank’s internal processes. Citigroup was among four other lenders that did not meet the requirements of the Fed’s Comprehensive Capital Analysis and Review (CCAR), an annual stress test conducted on major banking holding companies (BHC) in the US. This is the second time in three years Citigroup has failed the test. Citigroup Inc (NYSE:C) shares after opening at $47.72 moved to $47.75on last trade day and at the end of the day closed at $47.25. Company price to sales ratio in past twelve months was calculated as 2.27 and price to cash ratio as 0.19. Citigroup Inc (NYSE:C) showed a negative weekly performance of -5.65%.
Bank of America Corp (NYSE:BAC) is moving through a mixed phase of setbacks and recovery. However, it has emerged strong and the biggest relief came in the form of recommendation by North Carolina Judge to dismiss the suit against Bank of America, which was initiated by the U.S. The business cycle is now in full swing and a lot of action is coming on board. The corporation seems to be all set to play its best cards to amass advancement and growth. Bank of America Corp (NYSE:BAC) shares fell 0.18% in last trading session and ended the day on $16.98. Bank of America Corp (NYSE:BAC) return on equity ratio is recorded as 4.60% and its return on assets is 0.50%. Bank of America Corp (NYSE:BAC) yearly performance is 38.61%.
Wells Fargo & Co (NYSE:WFC), is pleased to recognize two team members who were awarded 2014 Rising Star awards by Institutional Investor’s Fund Industry Intelligence last night in New York City. Rising stars are considered by Fund Industry Intelligence to be self-starters who have risen quickly to further the development of their firm or the industry as a whole. Wells Fargo & Co (NYSE:WFC) shares moved up 0.39% in last trading session and was closed at $49.29 while trading in range of $ 49.05 – 49.61. Wells Fargo & Co (NYSE:WFC) year to date (YTD) performance is 9.29%.
JPMorgan Chase & Co. (NYSE:JPM) has made an announcement that there will be increase in dividend for its shareholders. The decision was taken after the release of CCAR results by US Federal Reserve Board. From the second quarter of 2014, dividend for the quarterly common stock will be increase to $0.40. The firm was informed by US Federal Reserve Board that it has no objection regarding the propose capital distribution program of the company. JPMorgan Chase & Co.(NYSE:JPM) weekly performance is -0.22%. On last trading day company shares ended up $60.04. JPMorgan Chase & Co.(NYSE:JPM) distance from 50-day simple moving average (SMA50) is 4.28%. Analysts mean target price for the company is $65.48.
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