Today’s Research Reports on Stocks to Watch: Wells Fargo & Company and Bank of America
NEW YORK, NY / ACCESSWIRE / March 12, 2018 / Wells Fargo made headlines last week for being at the top of the list of banks arranging funding for gunmakers. Bank of America made headlines last month for announcing that it would open 500 new branches over the next four years.
RDI Initiates Coverage on:
Wells Fargo & Company
https://rdinvesting.com/news/?ticker=WFC
Bank of America Corporation
https://rdinvesting.com/news/?ticker=BAC
Wells Fargo & Company shares closed up 2.66% last Friday on about 19 million shares traded. Wells Fargo was making some controversial headlines last week for being the "Go-to" bank for gunmakers and the NRA. According to data that was compiled by Bloomberg, Wells Fargo has helped two of the largest firearm and ammunition companies in the U.S. get $431.1 million in loans and bonds since December of 2012. The NRA was given a $28 million line of credit with the bank according to financial documents. Avery Gardiner, co-president of the Brady Campaign, a gun-control advocacy group remarked, "Financial firms can use their relationships with the gun industry to encourage responsible sales practices. She said, "The organization has no plans to pressure Wells Fargo at this time." Wells Fargo released a statement, "Any solutions on how to address this epidemic will be complicated. This is why our company believes the best way to make progress on these issues is through the political and legislative process." The bank also said, "We plan to engage our customers that legally manufacture firearms and other stakeholders on what we can do together to promote better gun safety for our communities." Wells Fargo will report its first quarter 2018 earnings on Friday, April 13, 2018, ahead of the morning bell.
Access RDI's Wells Fargo & Company Research Report at:
https://rdinvesting.com/news/?ticker=WFC
Bank of America Corporation shares closed up 1.61% on nearly 74 million shares this past Friday. There was no particular news from the company last week, but it was at the end of last month that Bank of America announced that it would be opening 500 new branches in the next four years. The company unveiled is plans on February 26th to open over 500 new branches across the U.S. The North-Carolina based lender is investing in physical and digital enhancements and is pushing to move into three Ohio cities: Columbus, Cleveland, and Cincinnati. The bank also said that there have been recent expansions in the cities of Minneapolis, Indianapolis, Denver, and it plans to do similar moves in Pittsburgh. The company also said it would be redesigning over 1,500 existing locations with new technology as well as layouts and furnishings.
Access RDI's Bank of America Corporation Research Report at:
https://rdinvesting.com/news/?ticker=BAC
Our Actionable Research on Wells Fargo & Company (NYSE: WFC) and Bank of America Corporation (NYSE: BAC) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
