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C

Citi

$67.92

0.29 (0.43%)

, BAC

Bank of America

$29.59

-0.11 (-0.37%)

06:25
05/13/19
05/13
06:25
05/13/19
06:25

Citi betting big on digital banking efforts, WSJ reports

Citigroup (C) executives are convinced that many U.S. consumers are finally ready to fully embrace digital banking and leave the branch behind, The Wall Street Journal's Telis Demos reports. In recent months, the bank has reorganized its consumer unit, has rolled out a new account through its mobile app aimed at credit-card customers, and it is targeting potential customers with mobile-banking offers tied to the rewards they get for cards. "For the 21st century, we are glad we never got the ballast of an extra 4,000 branches," said Stephen Bird, the bank's CEO of global consumer banking. "I'm certain it's going to turn out to be a very fortuitous thing." Though rivals Bank of America (BAC) and JPMorgan (JPM) are also ramping up their digital offerings, they are also doing so alongside their huge branch networks. Reference Link

C

Citi

$67.92

0.29 (0.43%)

BAC

Bank of America

$29.59

-0.11 (-0.37%)

JPM

JPMorgan

$112.53

0.03 (0.03%)

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C Citi
$67.92

0.29 (0.43%)

04/25/19
WELS
04/25/19
NO CHANGE
Target $90
WELS
Outperform
Citi price target raised to $90 from $82 at Wells Fargo
Wells Fargo analyst Mike Mayo raised his price target for Citi to $90 from $82 given more confidence that ROTCE will improve from 11% to 13% in 2021. The analyst reiterates an Outperform rating on the shares.
04/17/19
BMOC
04/17/19
NO CHANGE
Target $37
BMOC
Market Perform
Bank of America price target raised to $37 at BMO Capital after Q1 results
BMO Capital analyst James Fotheringham raised his price target on Bank of America (BAC) to $37 from $36 after its Q1 earnings beat that was driven by reduced costs and to reflect a roll out in his model by one quarter, but also lowered his FY19 EPS view by 4c to $3.05 due to lower than expected net interest income. The analyst is also keeping his Market Perform rating on the shares, stating that among the "U.S. big four banks", he prefers Citigroup (C).
04/17/19
JEFF
04/17/19
DOWNGRADE
Target $32
JEFF
Hold
Bank of America downgraded to Hold from Buy at Jefferies
Jefferies analyst Kenneth Usdin downgraded Bank of America (BAC) to Hold from Buy with an unchanged price target of $32. After reducing his 2020 estimates by 3% following the company's Q1 results, the analyst does not see enough upside to warrant a Buy rating. The Q1 results showed "incremental challenges in numerous revenue areas," including net interest income and fees, Usdin tells investors in a research note. He prefers putting new money into shares of Citi (C).
05/03/19
WELS
05/03/19
NO CHANGE
Target $90
WELS
Outperform
Wells Fargo says consensus EPS forecasts for Citi too low
After meeting with the CEO and CFO of Citi, Wells Fargo analyst Mike Mayo noted that both executives repeated expectations that Citi should achieve its ROTCE targets. Those targets imply that 2020 consensus EPS is too low by about 15%, contends Mayo, who added that the executives also pointed to a turn in Asia, from which the bank stands to benefit. Mayo maintains an Outperform rating on Citi with a $90 price target.
BAC Bank of America
$29.59

-0.11 (-0.37%)

04/17/19
04/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PayPal (PYPL) downgraded to Neutral from Buy at UBS with analyst Eric Wasserstrom saying his analysis of PayPal's core operations indicates "limited beat-and-raise potential" over the next two years. 2. GasLog Partners (GLOP) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Fotis Giannakoulis saying he believes the partnership's ability to accretively fund new dropdowns has become increasingly more challenging. 3. Bank of America (BAC) downgraded to Hold from Buy at Jefferies with analyst Kenneth Usdin saying he does not see enough upside to warrant a Buy rating. 4. Comerica (CMA) downgraded to Outperform from Strong Buy at Raymond James and to Hold from Buy at Jefferies. 5. Skyworks (SWKS) downgraded to Neutral from Outperform at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/30/19
ATLE
04/30/19
DOWNGRADE
ATLE
Neutral
Bank of America downgraded to Neutral from Overweight at Atlantic Equities
04/30/19
04/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying Alphabet revenue growth in last night's Q1 results dropped below 20% for the first time since Q2 of 2015. 2. Bank of America (BAC) downgraded to Neutral from Overweight at Atlantic Equities. 3. Trade Desk (TTD) downgraded to Market Perform from Outperform at JMP Securities with analyst Ronald Josey saying he believes shares are currently fairly valued given the company's growth and opportunities in mobile and Connected TV. 4. ADP (ADP) downgraded to Market Perform from Outperform at Bernstein while Paychex (PAYX) was downgraded to Underperform from Market Perform. 5. Trex Company (TREX) downgraded to Neutral from Buy at B. Riley FBR with analyst Alex Rygiel citing near-term profit margin pressures. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
JPM JPMorgan
$112.53

0.03 (0.03%)

02/28/19
BMOC
02/28/19
NO CHANGE
Target $116
BMOC
Market Perform
JPMorgan price target lowered to $116 from $123 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on JPMorgan to $116 and kept his Market Perform rating, citing the company's Investor Day presentation that lowered expectations for net interest income as well as performance of its corporate & investment bank and wealth management segments. The analyst believes that other large-cap banks, fin-tech companies, and specialty lenders offer greater opportunity, even though his price target still implies a 13% return for JPMorgan stock.
03/06/19
03/06/19
NO CHANGE

JPMorgan files $130.14M mixed securities shelf
03/19/19
KEYB
03/19/19
DOWNGRADE
KEYB
Sector Weight
Worldpay downgraded to Sector Weight after Fiserv deal at KeyBanc
As previously reported, KeyBanc analyst Josh Beck downgraded Worldpay (WP) to Sector Weight from Overweight after the company and FIS (FIS) announced a deal, quickly adding another mega-deal in the wake of Fiserv (FISV)-First Data (FDC) and Global Payments (GPN)-Heartland Payment Systems. The analyst thinks this transaction is likely to expand the M&A discussion around Global Payments, TSYS (TSS), EVO Payments (EVOP), and i3 Verticals (IIIV) and sees paths to accretion should management teams further endorse a scale strategy. Future processing competition could increase among Global Payments, TSYS, First Data, and JPMorgan (JPM), but it remains too early to gauge, he contends.
03/25/19
JEFF
03/25/19
NO CHANGE
JEFF
Jefferies downgrades Financials to Underweight on 'shocking' Fed meeting
Jefferies analyst Steven DeSanctis is "very surprised" by last week's Federal Reserve's decision taking rate hikes completely off table in 2019. The "shocking" Fed meeting means lower rates for longer, which is not good for Financials, DeSanctis tells investors in a research note. A "lack of catalysts and weaker earnings growth" going forward for the entire sector, not just banks, means an Underweight rating on the space makes sense, says the analyst. As such, he downgraded his rating on the Financial sector to Underweight from Market Weight. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).

TODAY'S FREE FLY STORIES

NFLX

Netflix

$291.40

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Disney

$131.70

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FOXA

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CMCSK

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CMCSA

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BLK

BlackRock

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WMT

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COST

Costco

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Comcast

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Roku working for investors, Barron's says »

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Comcast

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DIS

Disney

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NFLX

Netflix

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AAPL

Apple

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ROKU

Roku

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Nestle

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Netflix

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Disney

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Football season is back, key moment for TV future, Barron's says »

On Sept. 5, when the…

NFLX

Netflix

$291.40

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DIS

Disney

$131.70

-4.37 (-3.21%)

FOXA

Fox Corp.

$31.76

-1.29 (-3.90%)

CMCSK

Comcast

$0.00

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CMCSA

Comcast

$42.47

-1.29 (-2.95%)

CBS

CBS

$41.39

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AMZN

Amazon.com

$1,752.00

-52 (-2.88%)

, FDX

FedEx

$151.94

-6.17 (-3.90%)

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On The Fly
Week in review: How Trump's policies moved stocks »

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Amazon.com

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FDX

FedEx

$151.94

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UPS

UPS

$111.29

-3.91 (-3.39%)

F

Ford

$8.76

-0.27 (-2.99%)

GM

General Motors

$36.06

-1.19 (-3.19%)

DDAIF

Daimler AG

$0.00

(0.00%)

HMC

Honda

$22.90

-0.32 (-1.38%)

TM

Toyota

$127.94

-1.69 (-1.30%)

VWAGY

Volkswagen

$0.00

(0.00%)

AAPL

Apple

$202.73

-9.82 (-4.62%)

FB

Facebook

$177.69

-4.39 (-2.41%)

TWTR

Twitter

$41.01

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GOOGL

Alphabet Class A

$1,154.66

-35.75 (-3.00%)

GOOG

Alphabet

$1,151.72

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ADM

Archer Daniels

$37.44

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REGI

Renewable Energy

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0.61 (5.53%)

GPRE

Green Plains

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AMAT

Applied Materials

$45.12

-1.92 (-4.08%)

, AMD

AMD

$29.55

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04:55
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Conference/Events
MUFG Securities to hold a tour »

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Applied Materials

$45.12

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AMD

AMD

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ANET

Arista Networks

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CHKP

Check Point

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CSCO

Cisco

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EQIX

Equinix

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FLEX

Flex

$9.72

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INTC

Intel

$44.97

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NVDA

Nvidia

$162.51

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OTEX

OpenText

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PYPL

PayPal

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RNG

RingCentral

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SQ

Square

$61.65

-3 (-4.64%)

STX

Seagate

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TWLO

Twilio

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V

Visa

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DB

Deutsche Bank

$6.98

-0.19 (-2.65%)

, COF

Capital One

$83.06

-2.68 (-3.13%)

17:57
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Periodicals
Deutsche Bank, Capital One won't say if they have Trump's tax returns, NYP says »

Deutsche Bank (DB) and…

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Deutsche Bank

$6.98

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COF

Capital One

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MXIM

Maxim Integrated

$52.14

-2.42 (-4.44%)

17:53
08/23/19
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Hot Stocks
Maxim Integrated's Jain sells 12,683 common shares »

In a regulatory filing,…

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GLD

SPDR Gold Shares

$144.15

2.77 (1.96%)

17:42
08/23/19
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Hot Stocks
SPDR Gold Shares holdings rise to 859.83MT to 854.84MT »

This is the fourth…

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AUMN

Golden Minerals

$0.27

0.0159 (6.38%)

17:33
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17:33
Hot Stocks
Golden Minerals receives noncompliance notice from NYSE »

Golden Minerals announced…

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DMPI

DelMar Pharmaceuticals

$0.77

0.0047 (0.61%)

17:25
08/23/19
08/23
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17:25
Hot Stocks
Intracoastal Capital reports 9.99% passive stake in DelMar Pharmaceuticals »

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RTN

Raytheon

$180.58

-6.44 (-3.44%)

17:22
08/23/19
08/23
17:22
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17:22
Hot Stocks
Raytheon awarded $534M Army contract »

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UHAL

Amerco

$339.43

-2.97 (-0.87%)

17:21
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17:21
Hot Stocks
Amerco announces special cash dividend of 50c per share »

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NTLA

Intellia Therapeutics

$15.77

-1.08 (-6.41%)

17:20
08/23/19
08/23
17:20
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17:20
Syndicate
Breaking Syndicate news story on Intellia Therapeutics »

Intellia Therapeutics…

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GD

General Dynamics

$183.42

-4.19 (-2.23%)

17:19
08/23/19
08/23
17:19
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17:19
Hot Stocks
General Dynamics awarded $1.08B Navy contract modification »

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NVLN

Novelion Therapeutics

$0.66

-0.0523 (-7.37%)

17:17
08/23/19
08/23
17:17
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17:17
Hot Stocks
Stonepine Capital reports 6.1% passive stake in Novelion Therapeutics »

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LMT

Lockheed Martin

$376.85

-8.91 (-2.31%)

17:14
08/23/19
08/23
17:14
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17:14
Hot Stocks
Lockheed Martin awarded $2.43B Navy contract modification »

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ONCS

OncoSec

$1.84

-0.03 (-1.60%)

17:14
08/23/19
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17:14
Syndicate
Breaking Syndicate news story on OncoSec »

OncoSec files $50M mixed…

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TNXP

Tonix Pharmaceuticals

$0.42

-0.0249 (-5.60%)

17:09
08/23/19
08/23
17:09
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17:09
Syndicate
Breaking Syndicate news story on Tonix Pharmaceuticals »

Tonix Pharmaceuticals…

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  • 25

    Sep

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.86

-7.5 (-2.57%)

17:08
08/23/19
08/23
17:08
08/23/19
17:08
General News
Trump to raises tariff rates on Chinese goods, CNBC says »

U.S. President Donald…

SPX

S&P 500

$0.00

(0.00%)

SPY

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$284.86

-7.5 (-2.57%)

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ATIS

Attis Industries

$1.03

-0.08 (-7.21%)

17:06
08/23/19
08/23
17:06
08/23/19
17:06
Hot Stocks
Attis Industries provides update on status of Nasdaq listing »

Attis Industries…

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CVEO

Civeo

$1.32

-0.07 (-5.04%)

17:04
08/23/19
08/23
17:04
08/23/19
17:04
Syndicate
Breaking Syndicate news story on Civeo »

Civeo files $300M mixed…

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Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
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