Wall Street Fundamentals Releases New In-Depth Stock Reports on BAC, C, JPM and WFC


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Companies Mentioned

NYSE:BAC / NYSE:C / NYSE:JPM / NYSE:WFC
11/27/2013 [ACCESSWIRE]

On Tuesday, the Federal Deposit Insurance Corp. reported the U.S. banking industry posted earnings of $36.0 billion in the third quarter of 2013, which was 3.9 percent lower when compared to the third quarter of 2012. "While industry revenue was lower, due in large part to a reduction in mortgage originations caused by higher interest rates, today's report shows further progress in the gradual recovery of the banking industry," FDIC Chairman Martin Gruenberg told reporters at a recent news conference. Additionally, the FDIC reported that the number of banks on its problem watch list had decreased by 38 when compared to the previous quarter. Here is how some banking stocks reacted Tuesday:

Bank of America Corp. (NYSE: BAC) shares traded in the range of $15.81 to $15.97 Tuesday before settling to close at $15.88, an increase of 0.44 percent. The stock appears to have some support at the $15.62, $14.97 and $14.80 levels. Shares of Bank of America have gained approximately 36.0 percent in 2013.

More information on Bank of America and access to the free equity report can be found at:      
www.WallStreetFundamentals.com/BAC

Citigroup Inc. (NYSE: C) shares traded in the range of $52.96 to $53.46 Tuesday before settling to close at $53.01, a decrease of 0.53 percent. The stock appears to be facing some resistance at $53.09 with some support at the $52.73 and $52.00 levels. Shares of Citigroup have gained approximately 34.0 percent in 2013.

More information on Citigroup and access to the free equity report can be found at:
www.WallStreetFundamentals.com/C

JPMorgan Chase & Co. (NYSE: JPM) shares traded in the range of $57.17 to $57.96 Tuesday before settling to close at $57.17, a decrease of 0.83 percent. The stock appears to have some support at the $56.94, $56.54 and $55.32 levels. Shares of JPMorgan Chase & Co. have gained approximately 30.0 percent in 2013.

More information on JPMorgan Chase & Co. and access to the free equity report can be found at: 
www.WallStreetFundamentals.com/JPM

Wells Fargo & Co. (NYSE: WFC) shares traded in the range of $44.29 to $44.74 Tuesday before settling to close at $44.31, a decrease of 0.38 percent. The stock appears to be facing some resistance at the $44.44 and $44.68 levels with some support at $43.83. Shares of Wells Fargo have gained approximately 30.0 percent in 2013.

More information on Wells Fargo and access to the free equity report can be found at: 
www.WallStreetFundamentals.com/WFC

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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.

Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com

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