banking News
Wells Fargo Soars After Q4 Beat, Lifts Profit Target in Post-Cap Era
Bank signals aggressive growth strategy with a 17-18% ROTCE target and a $5 billion buyback, capitalizing on the recent removal of the Fed's asset cap.
Lakeland Financial Boosts Dividend 4% in Sign of Confidence
The parent company of Lake City Bank raised its quarterly payout, signaling financial stability despite a recent analyst downgrade and sector headwinds.
Unity Bancorp Rises on Strong Earnings, But Credit Concerns Emerge
The New Jersey bank beat profit and revenue estimates, but a 53% jump in nonperforming loans has captured investor attention.
Citigroup Dips 3% on Reports of 1,000 More Job Cuts This Week
The latest staff reduction is a key part of CEO Jane Fraser's sweeping multi-year overhaul aimed at streamlining the global banking giant and boosting profitability.
Capital One Dips 6.3% on $425 Million Legal Settlement
The charge resolves claims the bank failed to pay promised rates on its 360 Savings accounts, creating a headwind amid its pending Discover acquisition.
Goldman Sachs Dismantles Consumer Ambitions, Sells Apple Card to JPMorgan
The sale of its $20 billion-plus credit card portfolio marks a definitive retreat from retail banking for the Wall Street giant, bolstering JPMorgan's industry dominance.
JPMorgan Takes Over Apple Card, Cementing Grip on US Credit Market
Deal marks Goldman Sachs' official retreat from consumer lending, transferring a $20 billion portfolio to its Wall Street rival after a costly foray into main street banking.
Goldman Sachs Sells Apple Card to JPMorgan in Costly Retreat
The investment bank is divesting the $20 billion program at a reported $1 billion discount, marking a definitive end to its troubled consumer lending ambitions.