European and U.S. banks closely watch interest rate decisions by the Federal Reserve and the European Central Bank, with significant shifts expected.
European and U.S. banks are closely monitoring the forthcoming interest rate decisions by the Federal Reserve and the European Central Bank. Overall, European banks are exhibiting stronger performance compared to their U.S. counterparts, attributable to strategic cost-cutting, improved balance sheets, and minimal loan loss provisions. Notably, in 2024, these banks are poised to allocate a substantial 120 billion euros towards share buybacks and dividends.Projections indicate a noteworthy increase in dividend yield for the top 50 European banks, from 5.8% in 2022 to 7.3% in 2024, with a slight dip to 7.
On May 21 it distributes a dividend of 0.45 euros per share and to receive it you must have shares before May 17.Its fair value, based on its fundamentals, stands at 17.69 euros, which represents a potential of around 11% .It will present earnings again on July 12. Looking ahead to the year, EPS is expected to increase by 5% and 22.1% the following year.Citi recently made a strategic investment in Cicada Technologies, a company that enables electronic trading of 28 Mexican government bonds.
The recent sale of Truist Insurance Holdings resulted in a substantial after-tax gain. The sale has strengthened the capital position that supports further balance sheet restructuring, share buybacks and organic growth.- ProTips: Simplified insights distilling complex financial data into actionable advice.