Deutsche: Citigroup and Regions are CCAR's big winners; BofA result not so bad

• Citi's (NYSE:C) quarterly dividend of $0.05 and $7.8B in buybacks were somewhat better than expected, and Regions Financial's (NYSE:RF) buybacks of $875M was higher than the $625M estimate (Regions also boosted its dividend by 20%).
• KeyCorp (NYSE:KEY), Morgan Stanley (NYSE:MS), and SunTrust (NYSE:STI) were also winners after announcing larger-than-forecast buybacks.
• Bank of America (NYSE:BAC) is a "slight disappointment," but some investors had feared an outright rejection of the capital plan, so maybe the resubmission request isn't the worst outcome.
• Previously: Corbat likely keeping his job as Citi cruises through CCAR (March 11)
• Previously: Regions Financial boosts payout by 20% after CCAR approval (March 11)
• Previously: KeyCorp declares $0.075 dividend (March 11)
• Previously: Morgan Stanley intends to declare $0.15 dividend (March 11)
• Previously: SunTrust Banks declares $0.24 dividend (March 11)
• C +3.4%, RF +3.8%, KEY +1.7%, MS +2.7%, STI +2.1%, BAC +0.6% premarket

Comments

[nap.jerry]

One has to think---who in BOA is "responsible" for preparing for events like this? BOA has failed two times in a row to successfully pass this test--without a retake. My question is: WHO HAS BEEN FIRED???

[CottonCap]

BAC 's plan rejected again by the same regulators who stuffed Merrill down the shareholders' throat. But looking back the entire Board and their management should be fired for zero due diligence on Countrywide, ridiculous parachute for Lewis, complete submission to fed's litigation demands and last year's "whoops" on liability calculation. The latest "resubmission" just a continuation of poor performance and more shareholder pain. Where is the activist investor community? When will BAC shareholders ever regain value?

[langstonham]

I'm long on BofA. Customer loyalty counts for a lot of my position.

[hksche2000]

"Citi's quarterly dividend of $0.05 and $7.8B in buybacks were somewhat better than expected" is the understatement of the day!

Go Citi!

[MikeMikm]

They passed, get it. $3.00 to 18.00 while paying off 92 Billion in previous management errors. All this being done in a almost zero interest environment .

[funfundvierzig]

As for the Fed's action and U. S. banks,

The pain of the stain falls mainly on the plain ole Bank of America shareholders.

…funfun..

[pilot fish]

Still frustrated with BACs errors, but all in all really isn't a big issue. Mr Market will be the real judge today.

[Bizun73]

I like KEY in this section. They are going to raise their dividend to 0.075/quarter in May with a repurchase of $725 million and looking to raise their dividend to 0.085/quarter in 2016.