This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Citigroup and Regions: Financial Winners

NEW YORK ( TheStreet) -- Citigroup (C - Get Report) and Regions Financial (RF - Get Report) were the winners among the largest U.S. banks on Monday, with shares of both companies rising 2%.

Citigroup closed at $47.60 and Regions closed at $8.31.

The broad indexes on Monday all ended with slight gains, as investors continued to digest Friday's improving employment numbers. The Bureau of Labor Statistics said that the U.S. economy added 236,000 jobs during February on a seasonally adjusted basis, and that the unemployment rate improved to 7.7% from 7.9% in January.

Although the effect of the required $85 billion in federal spending cuts this fiscal year has yet to be felt, "U.S. employment data are on a track suggesting a strengthening recovery," according to Citigroup director of economic and market analysis Steven Wieting.

Wieting said in a report in Monday that the Federal Reserve's "easing cycle is showing greater signs of impacting end borrowing costs, away from simply generating low bond market yields," however, "there is much still to recover. Outside 18 housing-related job categories, employment remains about 1.5 million below the level of five years ago while the adult population has risen by 12.2 million over the same time frame."

The Federal Reserve has been making monthly purchases of $85 billion in long-term securities, in an effort to hold long-term rates down. "The Fed will most likely taper off the size of asset purchases during 2013 and conclude QE in early 2014," Wieting wrote.

Upcoming Dividend and Buyback Announcements


With the Federal Reserve completing its annual stress tests for the nation's 18 largest banks last Thursday, investors are looking ahead to Thursday, March 14, for the regulator to announce the results of the Comprehensive Capital Analysis and Review (CCAR) of the banks' capital plans through the first quarter of 2014. Most of the big banks and many large regional banks not subject to CCAR but subject to the Fed's Capital Plan Review (CapPR), are expected to announce dividend increases and/or stock buybacks.

Credit Suisse analyst Craig Siegenthaler in a report on Sunday said that he expected capital deployment to be a "catalyst" for shares of Regions, SunTrust (STI - Get Report) and Zions Bancorporation (ZION - Get Report), even though he feels "cautious" about the industry over the short term.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ZION $27.00 0.00%
C $51.52 0.00%
JPM $60.58 0.00%
RF $9.45 0.00%
STI $41.09 0.00%

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs