banking

Editor’s note: This story has been corrected to reflect that Western Alliance Bancorporation reported an adjusted earnings beat. Western Alliance Bancorporation (NYSE:WAL) reported its first-quarter financial results after the bell Thursday. Here's a look at the details.  The Details:...

On Monday, the leading U.S. stock indices experienced declines, as the Dow Jones Industrial Average concluded the day 0.65% below at 37,735.11, while the S&P 500 dipped 1.2% to 5,061.82. Similarly, the Nasdaq closed the session with a decrease of 1.8% at 15,885.02. These are the top stocks that...

BofA Securities analyst Brandon Berman upgraded Ally Financial Inc. (NYSE:ALLY) to Buy from Neutral and raised the price target to $46 from $42. The analyst expected the recent balance sheet initiatives to help reduce future earnings volatility.  Berman saw limited...

Texas Capital Bancshares Inc (NASDAQ: TCBI) shares were down in early trading on Monday. The Federal Reserve is likely to cut its benchmark interest rates three times by 25 basis points (bps) each in 2024, beginning in June, and by three more times by 25bps in 2025, according to Truist...

S&P Global has revised the prospects of five regional banks in the United States from stable to negative. This downgrade is attributed to the potential risks associated with commercial real estate (CRE). What Happened: The outlooks of First Commonwealth Financial (NASDAQ:FCF), M&T Bank (...

First Citizens BancShares Inc’s (NASDAQ: FCNCA) stock has a history of outperforming the market. The bank appears well positioned to generate low-to-mid teens returns, driven by above-peer loan growth and cost controls, according to Goldman Sachs. The First Citizens BancShares Analyst: Ryan...

New York Community Bancorp Inc (NYSE:NYCB) shares are tumbling in after-hours trading Thursday after the company identified material weakness in internal controls and announced a leadership transition. What Happened: In a new regulatory filing, New York Community Bancorp said management identified...

Nu Holdings Ltd (NYSE:NU) reported fourth-quarter financial results Thursday after the market close. Here’s a look at the key metrics from the quarter. What To Know: Nu Holdings reported fourth-quarter revenue of $2.4 billion, up 57% compared to the prior year’s quarter. The company...

Two of Goldman Sachs Group Inc‘s (NYSE:GS) top investment bankers are reportedly considering leaving the firm. The bankers are allegedly unhappy about being left out of a new operating committee set up by CEO David Solomon. What Happened: The exclusion of Mark Sorrell and Gonzalo Garcia from...

U.S. Treasury Secretary Janet Yellen warned on Thursday of the potential failure of non-bank lenders if household finances became stretched and the rate of delinquencies on loans rises. Speaking before a Senate Committee on Banking, Housing and Urban Affairs, the former Federal Reserve chair warned...

The U.S. Treasury Department has projected that the banking industry may have to allocate hundreds of millions of dollars in the initial year to establish protocols for accessing the new corporate ownership database. What Happened: As the Wall Street Journal reported, the Financial Crimes...

During the second week of the new year, JPMorgan Chase & Co (NYSE: JPM), Wells Fargo & Company (NYSE: WFC), Bank of America Corporation (NYSE: BAC) and Citigroup Inc (NYSE: C) opened the earnings season by with their reports, with one-time...

Citigroup (NYSE:C) is continuing its leadership overhaul amidst a comprehensive reorganization, according to sources close to the situation. The bank’s CEO, Jane Fraser, recently held a conference call with managing directors to discuss the ongoing changes. What Happened: The bank has been...

CEOs of major banks, including JPMorgan Chase & Co. (NYSE:JPM) and Barclays PLC (NYSE:BCS), reportedly held a private meeting in Davos on Wednesday to discuss the challenges posed by fintech firms and stringent regulations. What Happened: The CEOs, who were in Davos for the World Economic Forum...

The former CEO of Morgan Stanley, James Gorman, recently shared his perspective on Bitcoin (CRYPTO: BTC), the banking sector and the economic landscape. What Happened: After a 14-year stint as Morgan Stanley’s CEO, which ended on New Year’s Day, Gorman, in an interview with Bloomberg,...