BAC - Bank of America Corporation
| Previous Close | 30.21 |
| Open | 30.01 |
| Bid | 0.00 x 1000 |
| Ask | 0.00 x 1000 |
| Day's Range | 29.88 - 30.19 |
| 52 Week Range | 22.07 - 33.05 |
| Volume | 44,166,742 |
| Avg. Volume | 66,616,273 |
| Market Cap | 305.804B |
| Beta | 1.62 |
| PE Ratio (TTM) | 17.49 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.48 (1.57%) |
| Ex-Dividend Date | 2018-05-31 |
| 1y Target Est | N/A |
- American City Business Journals•10 hours ago
What Charlotte's business community can do to help solve affordable-housing woes
Foundation for the Carolinas CEO Michael Marsicano tends to dream big. And, as with previous ambitious philanthropy campaigns, his latest depends heavily on buy-in from Charlotte’s corporate sector.
- American City Business Journals•10 hours ago
How Charlotte's biggest companies fared on latest Fortune 500 ranking
The Charlotte region’s Fortune 500 headquarters count remained steady at six in Fortune magazine’s listing of the largest U.S. public and private corporations for 2018. There were no companies in South Carolina that made the Fortune 500 ranking. Among local companies, Sealed Air Corp. (NYSE: SEE) was the biggest mover on the list, dropping 59 spots to No. 456.
- The Wall Street Journal•11 hours ago
[$$] Teen Retailer Rue21 Gets Some Help From Bank of America
has thrown a lifeline to Rue21 allowing the fresh-out-of-bankruptcy teen retailer stock up for the coming back-to-school season just as it failed to get an extra $25 million loan from Pathlight Capital, according to people familiar with the matter. Bank of America, Rue21 Inc.’s lender, has agreed to upsize its loan to the teen retailer, after the company’s effort to sign up a separate junior loan from Pathlight Capital failed collapsed when lenders vetoed the move, people familiar with the matter said. Rue21’s revolver lender, Bank of America, however, has recently upsized its asset-based loan to the retailer to close to $140 million, from $125 million, according to the people.
- InvestorPlace•14 hours ago
Wells Fargo & Co Stock Is a Rough Diamond — Go Long
Year-to-date, Wells Fargo & Co (NYSE:WFC) stock is lagging the group, down 10% while other bank stocks like Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) are 10 points better off. WFC stock so far has been able to withstand selling pressure from tremendous market-wide fears, its own inflammatory headlines and tremendous global volatility, and has remained in line with price expectations.
Market Realist•14 hours agoWells Fargo Stock Delivering Payout Yields amid Weak Performance
Wells Fargo (WFC) has delivered stable profitability since the beginning of 2017 helped by rates and lower taxes in 2018. The bank has maintained high dividend yields and repurchases in order to boost return on equity (or RoE). It has relatively high capital adequacy ratios and has passed recent stress tests. However, a further hike in payouts will depend on its growth in operating performance. Amid rising rates and lower taxes, credit offtake has been weaker.
Market Realist•16 hours agoHow Monetary Policy and the Yield Curve Are Shaping Up in 2018
The Federal Reserve is expected to increase the Fed funds rate two more times in 2018. The yield curve is flattening, indicating a smaller difference between short-term and long-term interest rates. This has happened because the Fed has pushed for higher short-term rates with no major uptick in long-term rates. A flattening yield curve is a cause for concern, as it indicates weaker expectations from long-term equity and debt assets.
InvestorPlace•16 hours agoFriday’s Vital Data: Micron Technology, Inc. (MU), Bank of America Corp (BAC) and Petróleo Brasileiro S.A. Petrobras (PBR)
U.S. stock futures are trading higher this morning, which is a bit surprising. President Donald Trump cancelled the U.S.’s summit with North Korea yesterday. What’s surprising is that North Korea kept its cool and did not ratchet up rhetoric in response.
- American City Business Journals•16 hours ago
America's biggest companies are raking it in. Here's what's driving the profit boom.
Corporate America's bottom line is booming on the back of a resurgent economy and the prospect that the good times are just getting started.
Market Realist•17 hours agoWhat to Make of North Korea, Trade Wars, and Rate Hikes
President Trump has canceled the scheduled meeting with North Korea’s Kim Jong-un on June 12. The Trump administration and China have achieved consensus in their trade war negotiations, with China agreeing to import natural gas to the tune of $50 billion annually as well as increase agricultural imports by ~30%.
- Investopedia•17 hours ago
6 Stocks That Can Outperform a Choppy Market
After years of lagging growth stocks, value stocks may be overdue for a return to market leadership. Among those who are confident about pivoting towards value stocks is Scott Blasdell, manager of the JPMorgan Large Cap Value Fund A (OLVAX). "I'm looking for stocks that rank favorably in terms of valuations but also have a bit of controversy around them," as Blasdell told Barron's.
Market Realist•17 hours agoHow Trump Administration Policies Are Driving Wells Fargo’s Results
The Trump administration is pushing for policy changes on multiple fronts like tax cuts, trade wars, a push for domestic manufacturing, changes in the Dodd-Frank Act, and immigration policies. Overall, the policies are directed towards improving manufacturing growth and improving operating cash flows for companies in the US. Banks (XLF) with a major domestic presence including Wells Fargo (WFC) and JPMorgan (JPM) are expected to benefit from these policies due to a boost to credit growth.
- The Wall Street Journal•yesterday
[$$] Merrill Lynch Brokers Face Pay Clawbacks
Some Merrill Lynch brokers are bracing for a pay cut this summer as the firm’s parent, Bank of America Corp., rolls out a new compensation program that punishes advisers who don’t meet certain sales targets. The new plan is stirring some discord inside Merrill, in part because it emphasizes cross-selling outside brokers’ traditional role. “It’s going to be ugly,” said one longtime Merrill broker who has spent recent weeks grousing with colleagues about the changes.
- Market Realist•yesterday
How Rate Hikes Are Affecting Wells Fargo
Wells Fargo (WFC) benefited alongside other bankers from rising rates, which resulted in better rate spreads for existing loan books. The bank continues to command the highest net interest margins (or NIMs) among peers (XLF). However, rate hikes going forward aren’t expected to boost margins, and will instead put pressure on further lending due to higher interest rates.
Market Realist•yesterdayWells Fargo Stock Sees Impact of Weaker Retail Lending
Wells Fargo Stock Has Been Weak amid Controversy: Can It Recover? Wells Fargo (WFC) continues to see a contraction in its loan book in recent quarters mainly due to strict underwriting guidelines and repayments from existing clientele. Overall banks (XLF) are facing difficulty in expanding their loan books amid rising interest rates, which has pushed corporates to reduce leverage.
- American City Business Journals•yesterday
Survey: Hispanic business owners more optimistic about their companies' futures
Hispanic owners of small businesses across the country were generally more bullish about their companies' growth than small business owners overall, according to a survey conducted in fall 2017 by GfK Public Affairs and Corporate Communications on behalf of Bank of America Corp. The organization surveyed more than 1,000 owners of companies with less than $5 million in revenue and fewer than 100 employees. About 77 percent of Hispanic small business owners surveyed said they will expand their businesses in the next five years, compared to 50 percent of non-Hispanic business owners, according to the report.
- Investopedia•yesterday
Bank Reform Bill to Boost Mortgage Availability: NAR
The bank reform bill aimed at rolling back regulations from the Dodd-Frank, Wall Street Reform and Consumer Protection Act has won the support of the National Association of Realtors (NAR), which said that it will bring much-needed relief to the banking market and increase the availability of mortgages. With President Donald Trump repeatedly expressing animosity toward the Dodd-Frank Act, it's likely that the new bill will become law when it lands on his desk. After all, once the bill becomes law, smaller banks will be able to lend more – and that includes mortgages.
Market Realist•yesterdayWells Fargo Stock Has Been Weak amid Controversy: Can It Recover?
Wells Fargo (WFC) has had a flat operating performance over the past six quarters compared to the stellar performances by its industry peers (XLF) mainly due to controversies involving the fake account opening scam and the latest news about the alteration of internal records. The bank is finding it difficult to shore up its loan book amid such controversies, and its efforts to bump up its integrity through new marketing campaigns are being derailed. The stock has tanked 9.6% over the past one quarter owing to weaker performance and continued controversies surrounding employee culture.
- The Wall Street Journal•2 days ago
[$$] Bank of America Says It Has a Claim on Assets Sought by Applebee's Parent
Corp. is fighting back against Applebee’s International Inc.’s move last week to seize control of a bankrupt franchisee’s operations, saying it has a claim on the operator’s leases, equipment and inventory. Inc., the publicly traded parent of the Applebee’s Neighborhood Grill & Bar restaurant chain, last week asked the U.S. Bankruptcy Court in Wilmington, Del., to clear a path for it to possibly seize its restaurants from RMH Franchise Holdings Inc., saying the operator of 159 restaurants in 15 states has been delinquent on royalty and advertising payments. Dine Brands last week asked Judge Brendan Shannon to lift the automatic stay of RMH, which filed for chapter 11 reorganization May 8.
InvestorPlace•2 days agoThursday’s Vital Data: General Electric Company (GE), Netflix, Inc. (NFLX) and JD.com Inc(ADR) (JD)
U.S. stock futures are headed lower this morning, as North Korea once again threatened to back out of next month’s summit with the U.S. The nation’s vice minister of foreign affairs said that if talks didn’t proceed, the U.S. could face off with North Korea in a “nuclear-to-nuclear showdown.”
- InvestorPlace•2 days ago
Start Betting on Gambling Stocks
The Supreme Court recently ruled that individual states can choose whether to legalize or prohibit sports betting, voiding the Professional and Amateur Sports Protection Act of 1992 and paving the way for legalized gambling on all types of sports events outside of Las Vegas. In fact, Bank of America predicts that the gross revenue from legal sports betting will increase from the current $200 million annually to $5 billion-$10 billion in the next five years. Bank of America said it could see incremental annual sales opportunities between $250 million and $1 billion, but I think the upside is even bigger.
- American City Business Journals•2 days ago
How Wells Fargo is reaching out to bring veterans on board
Transitioning into the civilian workforce after military service is a daunting task for many veterans. That’s why Charlotte’s financial-services industry offers transitional programs for these potential employees, focusing on veterans’ work ethic, leadership and teamwork skills.
- Simply Wall St.•2 days ago
Bank of America Corporation (NYSE:BAC): What You Have To Know Before Buying For The Upcoming Dividend
Investors who want to cash in on Bank of America Corporation’s (NYSE:BAC) upcoming dividend of $0.12 per share have only 6 days left to buy the shares before its ex-dividendRead More...
- Reuters•2 days ago
Top banks' Q1 commodities revenue jumps 48 pct -report
Commodities-related revenue at the 12 biggest investment banks in the first quarter jumped 48 percent year on year driven by the U.S. energy sector and commodity indices, consultancy Coalition said on Thursday. Revenue from commodity trading, selling derivatives to investors and other activities in the sector climbed to $1.2 billion, the financial industry analytics firm said in a report. "Significantly higher U.S. power and gas results were driven by improved market conditions and some one-off transactions," Coalition said.
Associated Press•2 days agoMarkets Right Now: Stocks shake off weak start, end higher
The latest on developments in financial markets (all times local): 4 p.m. U.S. stocks turned higher and finished with small gains after the Federal Reserve indicated it's not in a hurry to raise interest ...
- Bloomberg Video•19 hours ago
U.K. Economy Grows 0.1% in 1Q as Consumer Spending Slows
May.25 -- Kamal Sharma, director of G10 FX strategy at Bank of America Merrill Lynch, examines first-quarter U.K. economic growth with Bloomberg's Francine Lacqua on "Bloomberg Surveillance."
