Bank shares advanced in otherwise meek trading Monday, after global banking regulators relaxed rules on Europe’s biggest banks. The Stoxx 600 index for the banking sector moved up 2.0%. The Basel Committee on Banking Supervision, which is a group of the world’s top regulators and central bankers, said yesterday that it has decided to ease its position on the Basel III accord. With the move, banks could easily meet the “liquidity coverage ratio” rule. Regulators also gave four more years to phase in the rule until 2019.
You may also find it interesting to know that almost all U.S.-listed banks are making gains in 2013. So far this year no bank has been found in negative territory with Citigroup Inc. (NYSE:C) rallying the most.[article_detail_ad_1]
The share price of Citigroup Inc. (C) gained 2.51% during trading Friday, ending at $42.43. At that price, the company has a market cap of $124.43 billion and a P/E ratio of 17.83. The stock has a 52 week worst hit of $24.61 and a 52 week high of $42.54 marked on Friday. The P/S ratio is 1.80 and P/B ratio 0.67. Dividend yield stands at 0.09 percent. The beta value is 2.63. Citigroup’s RSI amounts to 74.30.
Goldman Sachs Group, Inc. (NYSE:GS) was also another price record breaker on Friday, extending its year-to-date performance over 5% after it suggested clients to bet on Citigroup Inc. (C) shares prior to fourth-quarter earnings later this month.
The market value of this bank (GS) is $63.21 billion. It has 32,600 people in workforce, over the last 12 months has generated revenue of $38.55 billion and has earnings of $5.44billion. The firm’s operating margin is 21.12 percent and net profit margin 14.52 percent. The latest closing price of its shares moved up 11.31% from the 50-day moving average.
KeyCorp (NYSE:KEY) also gained sharply so far this year. For this bank, a return on equity of 8.53 percent has been realized due to the financial position. Last twelve months per-share profit reached a value of $0.88. Last fiscal year, $0.20 has been paid in form of dividends to investors. Earnings are projected to move up 5.39 percent for the coming five years. The stock closed at $8.95, up 0.11 points or 1.24% from previous close and at a distance of +7.26% from 20-day simple moving average.
In the last trading session, JPMorgan Chase & Co.(NYSE:JPM)’s price moved 16.56% above its 200 day moving average, changing hands as low as $44.44 per share. The stock is currently trading 8.82% up its SMA 50. The worst hit in its 52 week range is $30.83 per share, with $46.49 being the 52 week best price, which compares with a latest closing price of $45.36. The Beta of this stock is 1.32.