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C

Citi

$70.37

1.74 (2.54%)

13:08
10/11/19
10/11
13:08
10/11/19
13:08

Citibank fined $30M by OCC over real estate owned violations

The Office of the Comptroller of the Currency announced a $30M civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violations related to the holding period of other real estate owned. The OCC found the bank engaged in repeated violations of the statutory holding period for OREO. These violations resulted from the bank's deficient processes and controls in the identification and monitoring of the OREO holding period. In assessing this civil money penalty, the OCC found the bank failed to meet its commitment to implement corrective actions, resulting in additional violations. The bank paid the assessed penalty to the U.S. Treasury. Reference Link

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C Citi
$70.37

1.74 (2.54%)

07/26/19
07/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs (GS) and Citi (C) upgraded to Outperform from Market Perform at Keefe Bruyette. 2. Ambev (ABEV) upgraded to Neutral from Underweight at JPMorgan with analyst Lucas Ferreira saying the post-earnings share rally shows that investors are chasing good growth stories to play Brazil's economic recovery. 3. West Pharmaceutical (WST) upgraded to Neutral from Underperform at BofA/Merrill with analyst Derik de Bruin saying that over the course of the first half, the company addressed his prior concerns around organic revenue growth and product mix trends while also boosting its operating margins and generating higher free cash flows. 4. Union Pacific (UNP) upgraded to Overweight from Neutral at Atlantic Equities, while CSX (CSX) was upgraded to Neutral from Underweight. 5. Hasbro (HAS) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's dominant position with a range of "strong" brands as well as in the big-screen business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/19
BOFA
09/06/19
NO CHANGE
BOFA
BofA/Merrill sees Citi, Citizens BB&T risk/reward as 'compelling'
BofA Merrill Lynch analyst Erika Najarian said she does not believe bank stocks are pricing in a recession, though they are "bearing the brunt of cycle concerns." Bank stocks could be at a near-term bottom, said Najarian, who sees compelling risk/rewards for shares of Citi (C), Citizens Financial (CFG) and BB&T (BBT) even when taking into account theoretical fair value in a recession. Even in the case of a recession, banks have materially improved underwriting since the financial crisis and she estimates an average 46% EPS hit in a downturn but only a 5% hit in tangible book value versus consensus 2020 forecasts, Najarian tells investors.
09/10/19
UBSW
09/10/19
DOWNGRADE
Target $49
UBSW
Neutral
Wells Fargo downgraded to Neutral from Buy at UBS
UBS analyst Saul Martinez downgraded Wells Fargo (WFC) to Neutral and lowered his price target on the stock to $49 from $51. The analyst attributes the rating change to his reduced estimates for earnings and lower net interest income along with the continued uncertainty and low visibility around the progress in the management's efficiency improvements. Martinez also cites Wells Fargo's relative valuation, with shares trading at 11.3-times expected FY20 earnings - a premium to JP Morgan's (JPM) 10.8-times, Bank of America's (BAC) 9.2-times, and Citigroup's (C) 7.9-times.
09/24/19
MSCO
09/24/19
NO CHANGE
MSCO
Large-cap banks aren't gaining deposit market share, says Morgan Stanley
Morgan Stanley analyst Ken Zerbe said he continues to hear the "false narrative" that large-cap banks must be gaining market share due to their superior technology, but he insists they are not and that small and mid-cap banks have consistently gained deposit market share over the last five years. Individual large-cap banks that have had the biggest deposit share gains include Goldman Sachs (GS), Ally Financial (ALLY) and Synchrony Financial (SYF), while mid-cap banks that have delivered the biggest gains in share of total deposits include First Republic (FRC), KeyCorp (KEY) and Huntington (HBAN), Zerbe tells investors. Large-cap banks that have seen the largest declines in their respective individual shares of total deposits include JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C), while deposit share losers among mid-cap banks include Comerica (CMA), Prosperity Bancshares (PB) and Zions (ZION), said Zerbe.

TODAY'S FREE FLY STORIES

CIT

CIT Group

$45.65

1.36 (3.07%)

06:47
10/22/19
10/22
06:47
10/22/19
06:47
Earnings
CIT Group reports Q3 EPS $1.50, consensus $1.21 »

Reports Q3 revenue $454M,…

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  • 22

    Oct

GPK

Graphic Packaging

$14.86

0.205 (1.40%)

06:44
10/22/19
10/22
06:44
10/22/19
06:44
Earnings
Graphic Packaging reports Q3 EPS 20c, consensus 19c »

Reports Q3 revenue…

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:44
10/22/19
10/22
06:44
10/22/19
06:44
Hot Stocks
Biogen soars 20% on plans to pursue Alzheimer's approval after FDA talks »

Shares of Biogen are…

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  • 22

    Oct

HLX

Helix Energy

$8.32

0.31 (3.87%)

06:43
10/22/19
10/22
06:43
10/22/19
06:43
Earnings
Helix Energy narrows FY19 revenue view to $730M-$760M from $700M-$760M »

Consensus is $749.91M.…

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PNTG

The Pennant Group

$18.37

0.19 (1.05%)

06:43
10/22/19
10/22
06:43
10/22/19
06:43
Initiation
The Pennant Group initiated  »

The Pennant Group…

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PEBO

Peoples Bancorp

$32.28

0.57 (1.80%)

06:42
10/22/19
10/22
06:42
10/22/19
06:42
Earnings
Peoples Bancorp reports Q3 EPS 72c, consensus 70c »

Reports Q3 book value per…

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ACRS

Aclaris Therapeutics

$1.40

-0.205 (-12.77%)

06:41
10/22/19
10/22
06:41
10/22/19
06:41
Upgrade
Aclaris Therapeutics rating change  »

Aclaris Therapeutics…

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  • 28

    Oct

FITB

Fifth Third

$28.04

0.71 (2.60%)

06:40
10/22/19
10/22
06:40
10/22/19
06:40
Hot Stocks
Fifth Third sees Q4 NII down about 1% from Q3, NIM down 4-5bps »

Sees FY19 NII up about…

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  • 22

    Oct

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    Oct

ARCH

Arch Coal

$78.98

-0.1 (-0.13%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Arch Coal backs FY19 total sales volume view 86.7- 92.1 tons »

"We are confident in…

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03/06/13
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03/06/13
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  • 22

    Oct

HAS

Hasbro

$120.11

-1.78 (-1.46%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Hasbro CEO says 'on track to deliver profitable revenue growth in 2019' »

"Hasbro remains on…

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03/06/13
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03/06/13
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  • 22

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CVNA

Carvana

$77.23

3.42 (4.63%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Recommendations
Carvana analyst commentary  »

Carvana sold 15,239…

03/08/13
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03/06/13
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03/06/13
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  • 06

    Nov

ARCH

Arch Coal

$78.98

-0.1 (-0.13%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Earnings
Arch Coal reports Q3 EPS $6.34, consensus $3.39 »

Reports Q3 revenue…

03/08/13
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03/08/13
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  • 22

    Oct

ARES

Ares Management

$28.28

0.42 (1.51%)

, NEP

NextEra Energy Partners

$51.04

-0.54 (-1.05%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Hot Stocks
Ares Management sells ownership in Meade Pipeline to NextEra Energy Partners »

Ares Management (ARES)…

ARES

Ares Management

$28.28

0.42 (1.51%)

NEP

NextEra Energy Partners

$51.04

-0.54 (-1.05%)

03/08/13
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  • 22

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KOOL

Cesca Therapeutics

$5.31

-0.14 (-2.57%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Hot Stocks
Cesca Therapeutics forms JV with Healthbanks Biotech »

Cesca Therapeutics and…

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:36
10/22/19
10/22
06:36
10/22/19
06:36
Hot Stocks
Breaking Hot Stocks news story on Biogen »

Biogen to offer access to…

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  • 22

    Oct

BIIB

Biogen

$223.57

3.52 (1.60%)

06:36
10/22/19
10/22
06:36
10/22/19
06:36
Hot Stocks
Breaking Hot Stocks news story on Biogen »

Biogen: Analysis of…

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  • 22

    Oct

SNV

Synovus

$36.30

1.005 (2.85%)

06:35
10/22/19
10/22
06:35
10/22/19
06:35
Earnings
Synovus reports Q3 adjusted EPS 97c, consensus 99c »

Reports Q3 provision for…

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BIIB

Biogen

$223.57

3.52 (1.60%)

, ESALY

Eisai

$0.00

(0.00%)

06:35
10/22/19
10/22
06:35
10/22/19
06:35
Hot Stocks
Biogen plans aducanumab BLA in early 2020 based on FDA talks »

Biogen (BIIB) and Eisai…

BIIB

Biogen

$223.57

3.52 (1.60%)

ESALY

Eisai

$0.00

(0.00%)

03/08/13
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  • 22

    Oct

FBC

Flagstar Bancorp

$38.72

0.39 (1.02%)

06:34
10/22/19
10/22
06:34
10/22/19
06:34
Earnings
Flagstar Bancorp reports Q3 EPS $1.11, consensus $1.04 »

Reports Q3 book value per…

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  • 22

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BIIB

Biogen

$223.57

3.52 (1.60%)

, ESALY

Eisai

$0.00

(0.00%)

06:34
10/22/19
10/22
06:34
10/22/19
06:34
Hot Stocks
Breaking Hot Stocks news story on Biogen, Eisai »

Biogen plans aducanumab…

BIIB

Biogen

$223.57

3.52 (1.60%)

ESALY

Eisai

$0.00

(0.00%)

03/08/13
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03/06/13
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03/06/13
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  • 22

    Oct

UBS

UBS

$11.53

0.18 (1.59%)

06:33
10/22/19
10/22
06:33
10/22/19
06:33
Periodicals
UBS to address client overcharges in Singapore, Hong Kong, Reuters reports »

UBS is working with…

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  • 22

    Oct

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FITB

Fifth Third

$28.04

0.71 (2.60%)

06:33
10/22/19
10/22
06:33
10/22/19
06:33
Earnings
Fifth Third reports Q3 EPS 71c with items, consensus 73c »

Reported results included…

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  • 22

    Oct

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    Oct

VRTX

Vertex

$183.73

7.49 (4.25%)

06:32
10/22/19
10/22
06:32
10/22/19
06:32
Recommendations
Vertex analyst commentary  »

Vertex price target…

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  • 30

    Oct

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    Mar

PHM

PulteGroup

$38.24

-0.08 (-0.21%)

06:32
10/22/19
10/22
06:32
10/22/19
06:32
Hot Stocks
PulteGroup reports Q3 unit backlog up 4% to 11,638 Homes »

Reports Q3 backlog value…

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  • 22

    Oct

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    Nov

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    Nov

PHM

PulteGroup

$38.24

-0.08 (-0.21%)

06:31
10/22/19
10/22
06:31
10/22/19
06:31
Earnings
PulteGroup reports Q3 EPS 99c, consensus 92c »

Reports Q3 revenue…

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03/08/13
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03/06/13
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