Between BofA, Citi, JPMorgan, and all the other big banks, announced buybacks amounting to dozens of billion have sent US equity futures spiking after hours.
- Bank of America Authorizes $5b Buyback; Boosts Div to 7.5c-Share
- Citigroup Plans $8.6b Buyback; Lifts Qtr Div to 16c From 5c
- JPMorgan Chase Plans $10.6b Buyback, Maintains qtr Div at 48c/shr
- Morgan Stanley Sets Buyback of Up to $3.5b, Boosts Div. to 20c
- Goldman Sachs plans buybacks of stock, boosts quarterly dividend
- American Express Plans $3.3b Buyback, Div. Boost to 32c-Share
- Huntington Bancshares to Boost Qtr Div. to 8c From 7c/Shr
- SunTrust to Lift Dividend 8% Starting 3Q, Sets $960m Repurchase
- U.S. Bancorp to Buy Back $2.6b of Shares, Boosts Div. by 9.8%
- Zions Bancorp Plans to Boost Dividend, Buyback
- Ally Financial announces inaugural dividend of 8c/share, buyback of up to $700m of stock
- M&T Bank Plans Max. $1.15b Buyback; Dividend Raised By Up to 5c
- PNC Plans Share Buybacks Up to $2b, Raise Qtr Div. to 55c/shr
- BNY Mellon Plans $2.7b Buyback, Boosts Dividend
- Northern Trust to Buy Back $275m; Boosts Dividend to 38c Vs 36c
- State Street to Buy Up to $1.4b; Boosts Dividend to 38c Vs 34c
- Bank of New York plans to buy back $2.14b in shares, boost dividend by 12%
- Citizens Finl Group Plans Quarterly Div. 12c/Share, Est. 12c
- BNY Mellon Plans $2.7b Buyback, Boosts Dividend by ~12% to 19c from 17c
- Banco Bilbao Vizcaya Plan Includes Common Dividends of $120m
- KeyCorp Plans to Evaluate Qtr Div. Boost to 9.5c/Shr, Est. 8.5c
- Discover Financial to Buy Back Up to $1.95b of Stock, Boost Div. to 30s/shr from 28c.
Futures are up across the board to frontrun the bank buybacks, no matter what exposure to financials they have:
As The S&P spikes:
Some context:
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