Giant Banking Company Downgrades Competitors Today

Citigroup (NYSE:C) released ‘downgrade’ ratings on some of its biggest competitors today.  The bank claimed that regulatory uncertianty and smaller commodities trading volumes would affect earnings at Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS).

Some more info about these companies:

  • Citigroup (NYSE:C): Its shares are trading at $38.03 in mid-day trading, down $0.27, 0r 0.65%, on the day.  The shares have traded in a 52-week range of $36.20 to $51.50.  Its market capitalization is $111.16, its trailing price to earnings ratio is 12.44, and it earned $3.06 per share last year.  About the company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.
  • Goldman Sachs Group (NYSE:GS): Its shares are trading at $136.12 in mid-day trading, down $1.11, or 0.81%, on the day.  The shares have traded in a 52-week range of $129.5 to $175.34.  Its market capitalization is $70.5 billion, its trailing P/E ratio is 14.92, and it earned $9.13 per share last year.  About the company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals
  • Morgan Stanley (NYSE:MS): Its shares are trading at $22.64, down $0.18, or 0.81%, on the day.  Its shares have traded in a 52-week range of $21.88 to $31.04.  Its market capitalization is $34.9 billion, its P/E ratio is 11.13, and it earned $2.03 per share last year.  Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis. The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

Competitors to these three banks include:

  • Bank of America (NYSE:BAC): About the company: Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
  • JP Morgan Chase (NYSE:JPM): About the company: JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.
  • Barclays PLC (NYSE:BCS): About the company: Barclays PLC offers commercial and investment banking, insurance, financial, asset management and related services. The Company’s banking subsidiaries operates branches in the United Kingdom and overseas.
  • UBS AG (NYSE:UBS): About the company: UBS AG is a wealth management, investment banking, and asset management firm. The Company provides a variety of financial services to individuals, institutions, corporations, governments, and financial intermediaries around the world.
  • Royal Bank of Scotland (NYSE:RBS): About the company: Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and offers commercial banking services. The bank offers business term loans; commercial mortgages; professional practice loans; asset finance and invoice finance loans; residential mortgages; consumer loans; credit cards; financial planning services; and life, personal lines, and income protection insurance.
  • HSBC Holdings plc (NYSE:HBC): About the company: HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide.
  • US Bancorp (NYSE:USB): About the company: U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.

(Note: Selected financial data are taken from Yahoo! Finance.  All data are assumed to be accurate.)

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