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UBS's auditor has issued an "adverse opinion" regarding the effectiveness of the bank's internal controls over financial reporting for 2024. The annual report reveals a material weakness stemming from unresolved issues related to misstatements inherited from Credit Suisse as of December 2024.
UBS has downgraded Volkswagen to a Neutral rating, as reported by AOF and distributed by BOURSORAMA. The analysis is provided for informational purposes only, with BOURSORAMA disclaiming any responsibility for its content and ensuring no conflicts of interest affect its objectivity.
Sergio Ermotti of UBS has topped the list of Europe's highest-paid bankers with a total remuneration of 14.9 million Swiss francs for 2024, slightly up from the previous year. This comes amid growing scrutiny in Switzerland, where a motion to cap bankers' pay between 3 and 5 million Swiss francs has passed the Upper House. Meanwhile, Andrea Orcel's pay at Unicredit has faced backlash, with a proposed increase to 13.2 million raising concerns among investors.
Citigroup has a Moderate Buy rating from analysts, with a consensus target price of $83.93. Recently, Bank of America raised its price target from $90 to $95, while the company reported a quarterly EPS of $1.34, exceeding estimates. Additionally, Citigroup announced a $20 billion share buyback plan and a quarterly dividend of $0.56, reflecting confidence in its stock value.
Bank of America (NYSE:BAC) reported a quarterly EPS of $0.82, surpassing estimates, with revenue of $25.30 billion, a 15% increase year-over-year. The company announced a quarterly dividend of $0.26, yielding 2.54%, and has a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Analysts maintain a "Moderate Buy" rating with a consensus price target of $48.64.
UBS reported a decline in legal provisions, totaling USD 3.60 billion at the end of 2024, down from USD 4.02 billion in 2023. The unresolved French tax case, stemming from unlawful client solicitation and money laundering, could lead to billion-euro fines, while additional legal challenges arise from the CS takeover.
Gitterman Wealth Management LLC acquired 5,377 shares of Wells Fargo & Company (NYSE: WFC) valued at approximately $378,000 in Q4. Several hedge funds also increased their stakes, contributing to institutional investors owning 75.90% of the stock. Analysts have raised price targets, with a consensus rating of "Moderate Buy" and an average target price of $74.39. Wells Fargo reported Q4 earnings of $1.43 per share, exceeding estimates, and announced a quarterly dividend of $0.40, reflecting a 2.25% yield.
UBS CEO Sergio Ermotti will earn approximately CHF14.9 million in 2024, a slight increase from CHF14.4 million in 2023, despite only working nine months last year. The total remuneration for UBS's Executive Board will reach CHF143.6 million, up from CHF140.3 million, with a significant portion of bonuses deferred to align employee interests with stakeholders. Chair Colm Kelleher will receive CHF5.5 million until the next Annual General Meeting.
BNP Paribas has announced a dividend increase to €4.79, yielding 6.3%, supported by a payout ratio of 50% and projected EPS growth of 26.8% over the next three years. Despite a history of dividend cuts, the company has shown a 12% annual growth in distributions since 2015 and a 9.1% increase in EPS over the past five years, indicating potential for future dividend sustainability.
UBS has raised its gold price forecast to $3,200 per ounce within a year, driven by expected global trade conflicts that may boost safe-haven asset investments. The bank's shares have reacted positively, and it plans a cash dividend of $0.90 per share for fiscal year 2024, following a net profit of $5.085 billion. CEO Sergio Ermotti's compensation for 2024 will be approximately 15 million Swiss francs, reflecting the bank's confidence amid economic challenges.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs auditor issues adverse opinion on financial reporting controls for 2024
11:23 17.03.2025
ubs downgrades volkswagen to neutral in recent analysis
11:23 17.03.2025
Ermotti surpasses Orcel in banker pay amid Swiss compensation cap proposal
11:21 17.03.2025
Citigroup announces share buyback and dividend amid mixed analyst ratings
11:06 17.03.2025
bank of america reports strong earnings and announces quarterly dividend
11:05 17.03.2025
ubs faces legal challenges as tax dispute and provisions decline
11:04 17.03.2025
gitterman wealth management invests in wells fargo amid positive analyst outlook
11:03 17.03.2025
ubs executive board compensation rises to 143.6 million francs in 2024
11:01 17.03.2025
BNP Paribas announces increased dividend reflecting strong earnings growth and stability
10:49 17.03.2025
ubs raises gold price forecast to 3200 dollars amid trade tensions
10:49 17.03.2025
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