US Banks Bump Up Dividends Following Fed's Successful Stress Test

Several prominent U.S. banks have declared their intentions to raise their dividends for Q3, following their successful performance in the Federal Reserve's annual stress test.What Happened: U.S. bank

Benzinga00:11

After the Federal Reserve's stress test, major Wall Street banks increased dividends and stock buybacks.

On Friday, the US banking industry announced an increase in dividend payouts, such as JPMorgan's plans to buy back $30 billion in stocks and Morgan Stanley receiving approval to buy back as much as $20 billion in stocks. Overnight on Friday, bank stocks rose across the board, with Citigroup rising 3.1% and Wells Fargo & Co. rising 3.43%.

wallstreetcnJun 29 11:10

RBC Capital Maintains Wells Fargo & Co(WFC.US) With Hold Rating, Maintains Target Price $61

RBC Capital analyst Gerard Cassidy maintains $Wells Fargo & Co(WFC.US)$ with a hold rating, and maintains the target price at $61.According to TipRanks data, the analyst has a success rate of 61.4% an

Futu NewsJun 29 10:32 · Ratings

Bank of America, JPMorgan, Goldman Raise Investor Payouts Post-Stress Tests -- Barrons.com

By Rebecca Ungarino The largest U.S. banks said on Friday evening that they would increase payouts to investors in moves that were generally expected after lenders sailed through the Federal Reserve'

Barron'sJun 29 07:23

Goldman Sachs and other Wall Street giants increase spending, dividends and buybacks, as previously approved by the Federal Reserve's stress tests.

On June 29th, Guolonghui reported that Bank of America plans to increase its quarterly dividend by 8% to $0.26 per share. The board of directors of JPMorgan Chase authorized a new stock buyback plan of up to $30 billion, increasing stock dividends to $1.25 per share (previously $1.15). Morgan Stanley has been granted permission to repurchase up to $20 billion of stock and plans to increase its quarterly dividend to $0.925 per share. Goldman Sachs plans to increase its quarterly dividend from $2.75 to $3.00 per share. Citigroup plans to pay a dividend of $0.56 per share, previously $0.53. Wells Fargo & Co expects to increase its third-quarter dividend by 14% to $0.40.

Gelonghui FinanceJun 29 06:18

JPMorgan, Citi, BofA, Wells Fargo All Boost Dividends

Yahoo FinanceJun 29 05:17