|Bid||25.65 x 1200|
|Ask||25.65 x 1300|
|Day's Range||25.64 - 25.68|
|52 Week Range||24.88 - 26.39|
|Beta (3Y Monthly)||-0.03|
|PE Ratio (TTM)||9.13|
|Forward Dividend & Yield||1.62 (6.34%)|
|1y Target Est||N/A|
Bank of America reported higher than expected earnings driven by strength in its consumer banking and wealth management divisions. Yahoo Finance's Brian Cheung joins Seana Smith on 'The Ticker' to discuss.
Yahoo Finance’s Adam Shapiro, Julie Hyman, Scott Gamm, Brian Cheung, and Kristin Myers discuss.
Bank of America posted strong profit that jumped 8% from last year, and revenue that was in line with analysts' expectations. United Airlines also beat on the top and bottom lines, despite Boeing troubles. Yahoo Finance's Brian Sozzi and Heidi Chung break down the market action.
The youngest American to visit every country in the world gives his tips on how to save money and maximize rewards.
It marks a major step forward in the ramp up of the campaign — led by David Tepper, owner of the NFL Carolina Panthers, and his top lieutenant, Tom Glick — to bring a Major League Soccer franchise to Charlotte.
Two large banks, a food-and-beverage company, and a prescription-drug distributor are expected to announce dividend increases next week.
Bank of America Corp has appointed Janis Vitols to be its new head of global asset management investment banking, according to an internal memo seen by Reuters on Thursday. "A 20-year veteran in investment banking, Janis joins us from Barclays, where he was most recently managing director and head of global asset management investment banking," Bank of America Vice Chairman and Americas head of its financial institutions group Will Addas wrote in the memo to staff.
The wirehouse reportedly plans to stick with its existing broker compensation plan, which includes incentives to bring in new clients
Bank of America earnings topped second-quarter views, with shares rising Wednesday. The banking giant has been nearing a buy point.
Charlotte-based Bank of America Corp. again broke company records in its second-quarter earnings report released Wednesday morning. That success means reinvesting resources back into the business, Chief Executive Brian Moynihan said.
On Wednesday, Bank of America (BAC) reported mixed second-quarter results. The bank’s profitability beat analysts' expectation.
Bank of America Corp beat estimates for quarterly profit on Wednesday, as the loan book of the country's second-largest lender benefited from a healthy economy. Consumer banking has held up for the big Wall Street banks that have reported second-quarter results this week, cushioning a blow from weakness in trading and advisory businesses. Bank of America, however, bucked that trend and reported a 3-basis-point increase on the year in its interest margin to 2.44% for the second quarter, though the metric fell 7 points from the first quarter.
Bank of America Corp (NYSE: BAC) and several other banking firms highlight the earnings picture this morning, while anticipation builds ahead of Netflix Inc. (NASDAQ: NFLX) results after the close. Also, there seems to be some risk aversion creeping back into the picture after President Trump’s comments about the China trade situation yesterday (see more below). This morning, BAC became the latest big bank to surpass Wall Street’s earnings estimates as interest income rose, but shares edged lower in pre-market trading.
(Bloomberg) -- Bank of America Corp.’s consumer bankers extended their winning streak for another three months.Gains in the retail division helped drive overall profit to a record for a fifth consecutive quarter as mortgage activity surged and provisions for bad loans posted a surprise drop from the first quarter. The trading division, where revenue declined 10% in the second quarter, fell victim to the same slump its bigger rival JPMorgan Chase & Co. suffered during the period.“We see solid consumer activity across the board, with spending by Bank of America consumers up 5% this quarter over the second quarter of last year,” Chief Executive Officer Brian Moynihan said Wednesday in a statement.Bank of America shares climbed 1.1% to $29.31 at 9:45 a.m. in New York.The biggest U.S. banks are benefiting from a solid job market, relatively strong economic growth and Federal Reserve interest-rate increases stretching back to late 2015. Despite profit blowouts in recent quarters, some investors are becoming more cautious on financial stocks amid speculation the Fed will cut rates this month. That’s prompted shares to trail the broader market.Bank of America became the latest firm to dial down expectations for the lending business as the Federal Reserve seems poised to cut rates. Its net interest income will probably rise 1% this year if the Fed cuts rates twice in 2019, down from the 3% jump it expected in April, Chief Financial Officer Paul Donofrio said on a call with analysts Wednesday. JPMorgan and Wells Fargo & Co. also tamped down expectations for that metric this week.BofA’s net interest income -- revenue from customers’ loan payments minus what the company pays depositors -- rose 3% to $12.2 billion in the second quarter, less than the $12.3 billion average estimate in a Bloomberg MODL survey. The bank joined JPMorgan, Wells Fargo and Citigroup Inc. in reporting sliding net interest margins compared with the previous quarter.In Bank of America’s trading division, revenue dropped to $3.27 billion, slightly less than the average estimate of $3.32 billion. Fixed-income revenue fell 8% to $2.13 billion, while equity-trading revenue slid 13% to $1.15 billion. Donofrio said on a call with reporters that the declines weren’t due to bad bets, as the bank had no days of trading losses in the quarter.The lender announced last month it would return as much as $37 billion to shareholders over the next four quarters by raising its dividend by 20% and boosting stock buybacks.(Updates with NII outlook in sixth paragraph.)To contact the reporter on this story: Lananh Nguyen in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bank of America stock is rallying after beating on earnings expectations. But can the stock trigger a big-time breakout? It's sitting on the cusp.
The big bank reported better-than-expected earnings but said net interest margin, a measure of lending profitability, declined.
The bank nonetheless beat earnings expectations thanks to the strength of its retail bank, growth in its loan book, cost controls and winning market share in investment banking. BofA had been expecting net interest income, what it earns on lending minus its financing costs, to increase 3 per cent in 2019, to roughly $49.6bn. Net interest revenue fell by $186m between the first and second quarter.
Bank of America Corp reported a 10% increase in quarterly profit on Wednesday as a healthy U.S. economy boosted demand for loans. Analysts had expected a profit of 71 cents per share and revenue of $23.2 billion, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable.
Rate trends have prompted the bank to scale back its expected full-year net interest margin, a key measure of profitability, to 2% from 3%, executives said on a conference call with analysts. Net interest income, the difference between interest earned from lending and how much the bank pays for deposits, rose 6% last year. Chief Financial Officer Paul Donofrio said on a call with reporters the sequential decline was due to lower long-term interest rates.