6 Biggest US Banks Ramp Up Buybacks, Undeterred By Stress Tests
Portfolio Pulse from Michael Juliano
The six largest U.S. banks, including JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, U.S. Bancorp, and PNC Financial Services, have significantly increased their share buybacks despite recent stress tests. These banks collectively repurchased over $14 billion in shares in Q1 2023, a 73% increase from the previous six months. The Federal Reserve's potential easing of capital-rule proposals has likely influenced this decision.
June 26, 2024 | 3:37 pm
News sentiment analysis
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NEUTRAL IMPACT
First Trust Nasdaq Bank ETF saw a decline in early-morning trading despite the increased buybacks by major banks.
Despite the positive news of increased buybacks by major banks, the ETF saw a decline, indicating mixed market sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
SPDR S&P Bank ETF saw a decline in early-morning trading despite the increased buybacks by major banks.
Despite the positive news of increased buybacks by major banks, the ETF saw a decline, indicating mixed market sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Invesco KBW Bank ETF saw a decline in early-morning trading despite the increased buybacks by major banks.
Despite the positive news of increased buybacks by major banks, the ETF saw a decline, indicating mixed market sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Bank of America significantly increased its share buybacks in Q1 2023, showing confidence despite stress tests and potential regulatory changes.
Bank of America's increased buybacks suggest strong financial health and optimism about regulatory changes, benefiting shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Citigroup increased its share buybacks in Q1 2023, showing confidence despite stress tests and potential regulatory changes.
Citigroup's increased buybacks suggest strong financial health and optimism about regulatory changes, benefiting shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
JPMorgan Chase increased its share buybacks significantly in Q1 2023, despite recent stress tests and potential regulatory changes.
JPMorgan's decision to increase buybacks indicates confidence in its financial stability and potential regulatory easing, which is positive for shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PNC Financial Services increased its share buybacks in Q1 2023, showing confidence despite stress tests and potential regulatory changes.
PNC Financial Services' increased buybacks suggest strong financial health and optimism about regulatory changes, benefiting shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
U.S. Bancorp increased its share buybacks in Q1 2023, reflecting confidence despite stress tests and potential regulatory changes.
U.S. Bancorp's decision to increase buybacks indicates strong financial health and optimism about regulatory changes, which is positive for shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo increased its share buybacks in Q1 2023, reflecting confidence despite stress tests and potential regulatory changes.
Wells Fargo's decision to increase buybacks indicates strong financial health and optimism about regulatory changes, which is positive for shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100