U.S. banks are completing the year with their highest profits since 2006 and fewer disappointments than at any time since the economic slump hit in 2008. They are backing an economic growth retarded by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
As the economy retreats from the biggest economic chaos since the Great Depression, more people and businesses are taking out and repaying loans. Banks also saw earnings growth being driven by higher revenue, a healthy trend, for the first time since 2009.
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In other news, US regulators are reportedly getting closer to a $10 billion settlement with several banks, ending the government’s moves to hold lenders responsible for flawed foreclosure practices.
The share price of Citigroup Inc. (NYSE:C) lost -0.61% during trading Friday, ending at $39.01 after it along with other banks was fined by the Financial Industry Regulatory Authority. At that price, the company has a market cap of $114.40 billion and a P/E ratio of 16.39. The stock has a 52 week worst hit of $24.61and a 52 week high of $40.18. The P/S ratio is 1.65 and P/B ratio 0.61. Dividend yield stands at 0.10 percent. The beta value is 2.57. Citigroup’s RSI amounts to 59.39.
The market value of Wells Fargo & Company (NYSE:WFC) is $178.51 billion. It has 265,000 people in workforce, over the last 12 months has generated revenue of $48.91 billion and has earnings of $17.03billion. The firm’s operating margin is 32.22 percent and net profit margin 21.54 percent. The latest closing price of its shares moved up 1.66% from the 50-day moving average. There was a Wells Fargo Bank robbery, happened Friday morning around 9:30 a.m. on Lawrenceville Highway.
For SunTrust Banks, Inc. (NYSE:STI), a return on equity of 8.23 percent has been realized due to the financial position. Last twelve months per-share profit reached a value of $3.07. Last fiscal year, $0.20 has been paid in form of dividends to investors. Earnings are projected to move up 9.94 percent for the coming five years. The stock closed at $27.79, down -0.20 points or -0.71% from previous close and at a distance of +0.97% from 20-day simple moving average.
In the last trading session, PNC Financial Services (NYSE:PNC)’s price moved -5.01% below its 200 day moving average, changing hands as low as $57.39 per share after saying that some customers had some slowness to its website. The stock is currently trading 0.60% up its SMA 50. The worst hit in its 52 week range is $53.36 per share, with $67.89 being the 52 week best price, which compares with a latest closing price of $57.46. The Beta of this stock is 1.23.