EdgeWater 10/22/2010 12:08:19 PM
News / Business

Financial Stocks Closed Negative (Citigroup Inc., BAC, CS, BBT)

Financial Stocks Closed Negative

Citigroup Inc. (NYSE:C) slid 0.97% to $4.07. Yesterday, the company announced that it has declared dividends on preferred stock as follows: .5% Non-Cumulative Convertible Preferred Stock, Series T, payable November 15, 2010, to holders of record on November 5, 2010.

Over the past 52-week, the stock had traded within the range of $3.11-$5.07 and is up more than 22% year-to-date.

Bank of America Corporation (NYSE:BAC) fell 3.32% to $11.36. Yesterday, the company announced a corrected payment date on the quarterly cash dividend of $0.4140625 per depositary share on the 6.625% Non-Cumulative Preferred Stock, Series I originally announced October 4, 2010. The dividend is payable on January 3, 2011 to shareholders of record as of December 15, 2010.

The stock made its fresh 52-week low of $11.17.

Credit Suisse Group AG (ADR) (NYSE:CS) lost 5.31% to $42.63. The company said Thursday that its third-quarter net profit fell 74% to 609 million Swiss francs ($633 million) from 2.35 billion francs a year earlier as trading was hurt by low market volumes and subdued client activity.

The stock opened at $43.53 and has a 52-week range of $36.36-$60.08. In the past one month of trading sessions, the stock went down more than 6%.

BB&T Corporation (NYSE:BBT) dropped 1.31% to $22.62. The company on Thursday said third-quarter net income available to common shareholders totaled $210 million, or 30 cents a share, compared with $152 million, or 23 cents a share, in the same period in 2009.

A survey of analysts by FactSet Research had produced a consensus earnings forecast of 25 cents a share.

Over the past 52-week, the stock had traded within the range of $21.72-$35.72.

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