Goldman Sachs' sales slump, but it remains the king of Wall Street

Goldman's Main Street transformation including the upcoming Apple card is costing it big money

Goldman Sachs BDC has a 1 year low of $17.73 and a 1 year high of $22.75.

Goldman Sachs is one of number of major United States banks scheduled to report earnings this week. Northern Oak Wealth Management Inc. increased its position in Goldman Sachs BDC by 5.0% during the 4th quarter. CNB Bank now owns 173 shares of the investment management company's stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) all also reported stronger-than-expected results in the past two days. Goldman Sachs BDC has a 52-week low of $17.73 and a 52-week high of $22.75. The investment house said that it had $5.81 in earnings per share (EPS) and $9.46 billion in revenue. Banks can not announce dividend increases or new plans to buy back stock unless the Fed gives their capital plans a green light. The firm has a market capitalization of $803.23 million, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 10.00 and a beta of 0.99. Diluted earnings per share were $5.81 against $5.98 a year earlier. Goldman raised its quarterly dividend to $1.25 a share from 85 cents, with the new dividend to payable September 27 to shareholders of record on August 30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.84.

Solomon elaborated on this during a conference call with analysts Tuesday, saying that the firm still expects the U.S. economy to grow 2.5% this year and that the global economy will rise 3.4% - despite "subdued" growth in Europe. Shareholders of record on Friday, June 28th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.12%. The ex-dividend date of this dividend was Thursday, June 27th. Goldman Sachs BDC's dividend payout ratio is now 87.38%. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

Institutional Client Services net revenue of $3.48B fell 4% Q/Q and fell 3% Y/Y.

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