Industry News

Bank, whose former CEO named his boat 'Overdraft,' in hot water over fees - Chicago Tribune

2017-01-22 chicagotribune
Turns out overdraft fees are still big money makers for some banks. So much so that the former CEO of a mid-sized bank named his boat after the fee.

Regions Financial: A Little Operating Leverage Goes A Long Way

2017-01-22 seekingalpha
All told, this is a double digit EPS growth stock with upside on the Trump economy and tax reform.

Vanguard keeps its own management pay under wraps

2017-01-21 investmentnews
The DOL rule from all angles. Fiduciary Focus is your one-stop resource for learning how the DOL's fiduciary rule is changing the advice business.

Bank Of New York Mellon Is Way Too Cheap

2017-01-21 seekingalpha
With rate hikes coming this year, lower expenses and the buyback, BK looks well positioned to meet or exceed earnings estimates.

CEOs Counsel Taking Trump Seriously, But Not Literally - Bloomberg

2017-01-21 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

BB&T Is Still Not Worth Your Time

2017-01-21 seekingalpha
It is still struggling with growing revenue, but it is making some progress with respect to expenses.

SunTrust Banks: Measured Growth And Buybacks Drive Value

2017-01-21 seekingalpha
SunTrust Banks (NYSE:STI) fits into that group of regional banks whose main value drivers are operating leverage gains and strong buybacks. So suitable comparators are the likes of Regions (NYSE:RF), KeyCorp (NYSE:KEY) and Comerica (NYSE:CMA).

Wells Fargo needs wholesale change, not quick fixes - San Francisco Chronicle

2017-01-21 sfchronicle
When Timothy Sloan started his career at Wells Fargo 30 years ago, he worked in the department that fixed troubled loans. In ordinary terms, Sloan helped customers struggling to pay debts by offering more lenient repayment schedules or perhaps lower interest rates.

This Chart Sums Up Wells Fargo’s Fall From Grace

2017-01-21 fool
You can rest assured that Wells Fargo (NYSE:WFC) was more than ready to close the file on 2016 after a number of missteps tarnished its reputation and contributed to a lagging stock performance. But perhaps nothing illustrates Wells Fargo's recent fall from grace more than the fact that, as of the fourth quarter, it's no longer the most profitable big bank in the United States.

1 Reason to Be Bullish on Bank of America Stock

2017-01-21 fool
There are a number of reasons that investors should be bullish on Bank of America's (NYSE:BAC) stock, but the prospect of higher interest rates is the biggest of all. In fact, even if rates stay where they are today, following the increases at the end of 2016, the North Carolina-based bank should benefit immensely this year.

Q4 Earnings Growth the Highest in 8 Quarters

2017-01-21 zacks
The Q4 earnings season has gotten off to a good start, with earnings and revenue growth tracking above other recent periods and on track to reach the highest level in 8 quarters. Positive surprises, particularly on the earnings front, are a bit on the low side relative to historical periods at this stage. We will see if this trend continues this week as we enter the heart of the earnings season, with more than 300 companies coming out with quarterly results, including 105 S&P 500 members.

At Student Loan Giant Navient, Troubled Past Was Prologue - The New York Times

2017-01-21 nytimes
Such are the ugly allegations lodged against Navient, the nation’s student loan servicing behemoth, by the Consumer Finance Protection Bureau on Wednesday. In a lengthy complaint, the bureau said Navient, which oversees $300 billion in student loans for 12.5 million borrowers, failed customers “at every stage of repayment.”

Quicken Loans, Under Fire, Fires Back - The New York Times

2017-01-21 nytimes
DETROIT — A low buzz fills the air as an army of mortgage bankers, perched below floating canopies in a kaleidoscope of vivid pinks, blues, purples and greens, works the phones, promising borrowers easy financing and low rates for home loans.

S&P 500 Weekly Update: During A Period Of Consolidation And Uncertainty, Stay Focused On The Bullish Long-Term Trend

2017-01-21 seekingalpha
While the upside may be limited in the very short term, any downside probing is limited as well.

Jamie Dimon gets $28M pay package

2017-01-21 seekingalpha
JPMorgan (NYSE:JPM) directors paid CEO Jamie Dimon $28M in total compensation for 2016, a 3.7% increase from the prior year.

Analysts parse AT&T filing: Subscriber count, first view into streaming

2017-01-21 seekingalpha
AT&T (NYSE:T) climbed 1.1% today after its premarket filing where it said it would take a $1B charge tied to pension obligations, and that it expected to report 900,000 branded net wireless subscriber additions.

FinTech Acquisition raises $153M in IPO

2017-01-21 seekingalpha
A "blank-check" company, FinTech Acquisition Corp. (Pending:FNTEU) prices its 15.3M unit IPO at $10 each. Each unit includes one share of common stock and one-half of one warrant.

Plan calls for replacing Thompson Center with new tower that would be tallest in Chicago - Chicago Tribune

2017-01-21 chicagotribune
Is a major change in store for Chicago's skyline, one that for the first time would bring a super-tall skyscraper to the heart of the Loop?

New structure for Wells Fargo's international business

2017-01-21 seekingalpha
Seeking to better align its international banking services, Wells Fargo (NYSE:WFC) is merging its global business with its wholesale corporate banking unit.

Lower prices, higher delinquencies not great news for auto finance

2017-01-21 seekingalpha
The National Automobile Dealers Association Used Vehicle Price Index was down 6.2% in 2016 vs. just 1.4% decline a year earlier.

Regions Financial's (RF) CEO Grayson Hall on Q4 2016 Results - Earnings Call Transcript

2017-01-21 seekingalpha
Grayson Hall - Chairman of the Board, President, Chief Executive Officer of the Company and the Bank

Donald Trump becomes president, and the Bay Area braces

2017-01-20 mercurynews
Students, faculty and families from Bridge Academy Elementary School march along International Boulevard in protest to the inauguration of Donald Trump on Friday, Jan. 20, 2017 in Oakland, Calif. (Laura A. Oda/Bay Area News Group)

Dow 30 Stock Roundup: JPMorgan, Goldman Sachs, UnitedHealth Beat

2017-01-20 zacks
The Dow traversed a holiday shortened week shakily, suffering steady losses throughout. Markets remained closed on Monday due to Martin Luther King Jr. Day. Comments from the President-elect led the dollar and the subsequently the index to move lower on Tuesday. The Dow continued to languish in the red on Wednesday despite a rebound on financials. On Thursday, the index continued to suffer losses as investors braced themselves for Trump’s presidential inauguration.

7 Price and Earnings Momentum Winners

2017-01-20 zacks
When the stock market surged to new all-time highs in November, it created a fantastic parade of opportunities with hundreds of stocks displaying their own strong momentum. But with so many "price strength" ideas to chose from, how do you narrow them down into the good, the bad, and the must-have? The answer is simple: match that price momentum with the number-one driver of stocks, earnings momentum.

Bank Stock Roundup: Q4 Earnings Show Improvement; JPM, BAC, WFC, C Beat Estimates

2017-01-20 zacks
The Q4 earnings season has started off with a bang. Earnings reports from some mega banks in the last four trading days reflect a decent improvement. Banks reported a rise in trading income as heightened volatility amid the U.S. Presidential elections led to a significant rise in client activity. Also, mortgage banking fees recorded an impressive growth. But investment banking fees have not shown any improvement so far.