30.08 +0.01 (0.03%)
After hours: 7:57PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||29.99 - 30.28|
|52 Week Range||22.07 - 33.05|
|PE Ratio (TTM)||19.29|
|Earnings Date||Jul 16, 2018|
|Forward Dividend & Yield||0.48 (1.60%)|
|1y Target Est||34.91|
Central Florida's banks are ready to grow, despite increased competition and the need for high-tech advancements.
U.S. entrepreneurs feel increasingly optimistic about the future, as their confidence in the economy, revenue and long-term growth has reached the highest level since 2015, according to the spring 2018 Bank of America Business Advantage Small Business Owner Report.
During 2017, many large US banks reported a material slowdown in the growth of noninterest-bearing deposits, a credit negative, Moody's Investors Service says in a new report. This trend is likely to continue in 2018 as short-term interest rates rise further, which opens the possibility for an outright contraction in banks' noninterest-bearing deposits, though this could be mitigated by growth in low-cost interest-bearing alternatives, such as interest checking. "The deposits held in noninterest-bearing accounts are at the heart of a typical banking relationship, forming a cornerstone or 'crown jewel' in banks' franchises," Moody's Senior Vice President Allen Tischler says.
A key Republican lawmaker called out Citigroup Inc. and Bank of America Corp. for their decision to restrict business with the firearms industry. Senate Banking Committee Chairman Mike Crapo, whose committee writes banking laws and oversees Wall Street’s regulators, wrote to the chief executive officers of both banks last week. “We should all be concerned if banks like yours seek to replace legislators and policy makers and attempt to manage social policy by limiting access to credit,” Crapo, from Idaho, wrote in a letter to Citigroup CEO Mike Corbat.
The nation's second-largest bank hosted its shareholders at the Hilton Charlotte Center City, and an overarching theme of positivity due to BofA's most recent track record of success was palpable throughout the room.
It’s long been suggested that the stock market is vulnerable during earnings season because its biggest allies, companies themselves, are sidelined. Repurchases by Bank of America Corp.’s corporate clients rose to a four-year high last week, the firm’s equity strategists led by Jill Carey Hall and Savita Subramanian wrote in a note Tuesday. Financial firm buybacks were particularly strong, hitting levels not seen since BofA began tracking the data in 2009.
Bank of America Corp.’s new policy denying loans and other services to certain gun makers came after dozens of employees lost family members or suffered other trauma related to mass shootings in the past few years. “This comes from our teammates saying we have to help,” Chief Executive Officer Brian Moynihan said Wednesday at the company’s annual meeting in Charlotte, North Carolina. “The company is willfully giving up money,” Justin Danhof, general counsel of the National Center for Public Policy Research, said to Moynihan.
Amid all the excitement about China’s plan to open up its securities market, one U.S. banking giant is playing it cool. Deterred by what it sees as uncertain profit opportunities, Bank of America Corp. has no near-term plans to follow the seven foreign firms -- from Goldman Sachs Group Inc. to Credit Suisse Group AG and Citigroup Inc. -- that have set up securities joint ventures on the mainland, a person with knowledge of the bank’s strategy said. China plans to allow foreign firms to take majority stakes in securities JVs this year.
Next week is National Small Business Week. Today, Bank of America published its Spring 2018 Small Business Owner Report, which surveys 1000 small businesses around the country about their attitude towards the economy, tax cuts and technology. Joining us now is Sharon Miller, Head of Small Business at Bank of America.
Yahoo Finance’s Alexis Christoforous and Santosh Rao of Manhattan Venture Partners talk about earnings for some top tech companies.
Apr.25 -- Patrick Armstrong, chief investment officer at Plurimi Wealth, and Kamal Sharma, director of G10 FX strategy at Bank of America Merrill Lynch, discuss the significance of the U.S. 10-year yield hitting 3% and where it can go from here. They speak with Mark Barton on "Bloomberg Surveillance."