Settlement of Claims, Commencement of Offer, Upcoming Events, and Distributions - Research Reports on Bank of America, Citigroup, JPMorgan, Wells Fargo and American Homes
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NEW YORK, August 27, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC) and American Homes 4 Rent (NYSE: AMH). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5997-100free.
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Bank of America Corp. Research Reports
On August 21, 2014, Bank of America Corp. (Bank of America) announced that it has reached a comprehensive settlement with the U.S. Department of Justice (DoJ), certain federal agencies and six states for claims that relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities. The Company stated that it will pay a total of $9.65 billion in cash and provide approximately $7.0 billion worth of consumer relief. The Company informed that the settlement includes releases on the securitization, origination, sale and other specified conduct relating to residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs), and an origination release on residential mortgage loans sold to Government Sponsored Enterprises (GSEs) and private-label (PLS) RMBS trusts, or guaranteed by the Federal Housing Authority (FHA). The Company expects that this settlement will impact its Q3 2014 pre-tax earnings by $5.3 billion, or approximately $0.43 per share after tax. The full research reports on Bank of America are available to download free of charge at:
http://www.analystsreview.com/Aug-27-2014/BAC/report.pdf
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Citigroup Inc. Research Reports
On August 22, 2014, Citigroup Inc. (Citigroup) announced the commencement of its offer to purchase up to $700 million aggregate principal amount of its outstanding 6.125% Notes due 2017 (the Notes) for cash. The Company informed that the Notes had c.$3.9 billion of aggregate principal amount outstanding as of August 21, 2014. According to the terms and conditions stated in the Offer to Purchase and the Letter of Transmittal, Holders of Notes that are validly tendered on or prior to 5:00 p.m., New York City time, on September 5, 2014, and accepted for purchase shall be entitled to receive the total consideration calculated in the manner set forth in the Offer to Purchase including early tender premium. The offer will expire on September 19, 2014, while settlement is expected on September 24, 2014. The full research reports on Citigroup are available to download free of charge at:
http://www.analystsreview.com/Aug-27-2014/C/report.pdf
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JPMorgan Chase & Co. Research Reports
On August 22, 2014, JPMorgan Chase & Co. (JPMorgan) announced that the Company is planning to release its Q3 2014 financial results on October 14, 2014 at 7:00 a.m. ET. Following the result release, the Company will host a conference call at 8:30 a.m. ET on the same day to review its results. The live audio webcast and presentation slides will be available on the Company's official website under investor relations section. According to analysts polled by Bloomberg, the Company is expected to report Q3 2014 EPS of $1.39 on revenues of $23.6 billion. The full research reports on JPMorgan are available to download free of charge at:
http://www.analystsreview.com/Aug-27-2014/JPM/report.pdf
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Wells Fargo & Co. Research Reports
On August 20, 2014, Wells Fargo & Co. (Wells Fargo) reported that the Company's CFO John Shrewsberry will present at the upcoming Barclays 2014 Global Financial Services Conference in New York on September 10, 2014 at 7:30 a.m. ET or 4:30 a.m. PT. The live audio webcast and presentation slides will be available on the Company's official website under the investor relations section. The full research reports on Wells Fargo are available to download free of charge at:
http://www.analystsreview.com/Aug-27-2014/WFC/report.pdf
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American Homes 4 Rent Research Reports
On August 4, 2014, American Homes 4 Rent's (American Homes) Board of Trustees declared a Q3 2014 distribution of $0.05 per share on the Company's common shares. In addition, the Board of Trustees declared a quarterly distribution of $0.3125 per share on 5.000% Series A participating preferred shares; $0.3125 per share on 5.000% Series B participating preferred shares; and $0.34375 per share on 5.500% Series C participating preferred shares. The distributions declared on common shares and participating preferred shares are payable on September 30, 2014 to shareholders of record on September 15, 2014. The full research reports on American Homes are available to download free of charge at:
http://www.analystsreview.com/Aug-27-2014/AMH/report.pdf
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