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HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks

CNBC: Investing

"To us, upside to JPMorgan's share price from current levels over a multi-year period would seem to require a paradigm shift on how banks are valued," he added. The analyst noted a "more cautious stance" on larger banks like JPMorgan and Goldman Sachs over what he said is a still choppy macroeconomic backdrop.

Banking 71
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JPMorgan upgraded by KBW one day after downgrade at other firm knocked stock

CNBC: Investing

"Front-foot investing and the benefits from deregulation only widen JPM's competitive moat to peers." JPM MS 3M mountain JPM vs. Morgan Stanley, 3-month Among regional banks, KBW upgraded Citizens Financial to outperform from market perform and PNC Financial Services to market perform from underperform.

Stock 57
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Coinbase is the 'most misunderstood' crypto stock and can rally nearly 50%, Bernstein says

CNBC: Investing

"Coinbase is the most misunderstood company in our Crypto coverage universe. Despite multiple growth levers, consensus remains bearish on the largest Crypto universal bank," he wrote. Shares of Coinbase closed at $344.82 Tuesday afternoon, meaning Chhugani's revised target represents upside of approximately 48%.

Stock 68
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Mizuho set to merge European banking and securities businesses

The TRADE

Mizuho Financial Group is planning a restructure of its European Union (EU) banking and securities businesses, bringing them together under one umbrella as a Universal Bank, subject to approval from regulators. The move is set to enhance the banks products and services within the highly competitive EU market.

Banking 64
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BBVA head of FX sales departs for Lloyds Bank North America

The TRADE

Will Irwin has been appointed director of FX institutional sales at Lloyds Bank North America, following his departure from Banco Bilbao Vizcaya Argentaria (BBVA) where he had been serving in a similar role. The post BBVA head of FX sales departs for Lloyds Bank North America appeared first on The TRADE.

Sale 52
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People Moves Monday: Northern Trust, Lloyds Bank North America and more…

The TRADE

He originally joined the bank in 2006 in a securities lending role. Will Irwin was appointed director of FX institutional sales at Lloyds Bank North America, following his departure from Banco Bilbao Vizcaya Argentaria (BBVA) where he had been serving in a similar role.

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On-Cycle Private Equity Recruiting: Will PE Firms Start Recruiting 10-Year-Old Children Soon?

Mergers and Inquisitions

PE firms want to lock in candidates before they burn out from banking and have second thoughts. If you want to participate, you must start preparing after you win a return offer from your investment banking internship because PE firms could move up the timeline even earlier.