The Goldman Sachs Group, Inc. (NYSE: GS) shares continue to trade in a bull market after strong second-quarter results. The second-quarter results contributed to the highest-ever first-half revenues of $33 billion and net earnings of over $12 billion; however, the Delta variant of the coronavirus continues to pose downside risks.
Fundamental analysis: The board of directors approved a 60% increase in the quarterly dividend
Goldman Sachs reported better than expected second-quarter results last week, and according to the technical analysis, shares of this bank remain in a buy zone. Total revenue has increased by 15.7% Y/Y to $15.39 billion, while GAAP EPS for the same period was $15.02 (beats by $5.07).
It is important to say that the Investment Banking segment had its second-highest quarterly net revenues of $3.6 billion while the revenues from the Financial Advisory segment were $1.3 billion. Total revenue has increased above the expectations (+3.22 billion), and the board of directors approved a 60% increase in the quarterly dividend to $2.00 per common share.
This dividend will be payable on September 29 to stockholders of record as of September 1, 2021, and the current dividend yield stands at 2.2%. The bank reported a net income of $5.5 billion for the second quarter, while the second-quarter results contributed to the highest-ever first-half revenues of $33 billion and net earnings of over $12 billion.
“Our performance underscores the strength of our client franchise and the constructive but more normalized market environment relative to a year ago. Our results also reflect ongoing progress on the firm’s strategic priorities across all four of our businesses as laid out at our 2020 Investor Day,” said David Solomon, Chairman and Chief Executive Officer of Goldman Sachs.
During the
