Bank of America Corp (NYSE:BAC) has adequate capital to keep lending in a severe economic downturn, the Federal Reserve said Thursday in the release of its annual stress tests. At the low point a hypothetical recession, Bank of America’s Tier 1 common ratio — which measures high-quality capital as a share of risk-weighted assets – would be 5.9%, above the 5% level the Fed views as a minimum allowance. Bank of America Corp (NYSE:BAC) shares after opening at $18.03 on last trade day and at the end of the day closed at $17.56. Company price to sales ratio in past twelve months was calculated as 3.39 and price to cash ratio as 0.32. Bank of America Corp (NYSE:BAC) showed a positive weekly performance of 4.52%.
Citigroup Inc (NYSE:C) has adequate capital to keep lending in a severe economic downturn, the Federal Reserve said Thursday in the release of its annual stress tests. At the low point of a hypothetical recession, Citigroup’s Tier 1 common ratio — which measures high-quality capital as a share of risk-weighted assets – would be 7.2%, which is comfortably above the 5% level the Fed views as a minimum allowance. Still, the results were also below the group’s median ratio of 8.2%. Citigroup Inc (NYSE:C) shares fell -0.28% in last trading session and ended the day on $50.08. 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 10.82%.
JPMorgan Chase & Co. (NYSE:JPM)and directors including Chief Executive Officer Jamie Dimon were sued by an investor for creating “a culture of lawlessness” that led to billions of dollars in settlements tied to mortgage-backed securities and Bernard Madoff’s Ponzi scheme. JPMorgan Chase & Co. (NYSE:JPM) shares moved up 0.10% in last trading session and was closed at $60.17, while trading in range of $60.00 – $61.20. JPMorgan Chase & Co. (NYSE:JPM) year to date (YTD) performance is 3.56%.
Wells Fargo & Co (NYSE:WFC) Advantage Funds’ Municipal Income team received a total of five Lipper Fund Awards last night at the fund research and analysis organization’s annual awards dinner in New York. Led by acclaimed fund manager Lyle J. Fitterer, Wells Fargo Advantage Funds’ Municipal Income team manages more than $32 billion in municipal debt securities, across a variety of national and state-specific funds and separate accounts. Wells Fargo & Co (NYSE:WFC) weekly performance is 3.63%. On last trading day company shares ended up $49.12. Wells Fargo & Co (NYSE:WFC) distance from 50-day simple moving average (SMA50) is 6.29%. Analysts mean target price for the company is $49.20.
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