30.32 0.00 (0.00%)
After hours: 6:11PM EDT
|Bid||30.31 x 400|
|Ask||30.32 x 5100|
|Day's Range||30.12 - 30.40|
|52 Week Range||22.07 - 33.05|
|PE Ratio (TTM)||19.45|
|Forward Dividend & Yield||0.48 (1.60%)|
|1y Target Est||N/A|
On the heels of a market friendly tax cut, record corporate earnings and a chorus of talking heads including yours truly predicting another year of rising stock prices, only one thing is missing. Every bull market has its wall of worry and this year is no different. The usual market killing suspects are all doing their best to keep investors off balance.
The mortgage lending market is starting to slow, particularly for large, national banks. As a result, a handful of them, including Bank of America Corporation ( BAC), Wells Fargo & Company ( WFC) and JPMorgan Chase & Co. ( JPM), are pouring tons of money into mortgage apps and websites, betting that this is the way to drive younger home buyers their way. The moves, highlighted in a Reuters report, are also aimed at eliminating errors in paperwork and making it easier and quicker for customers to get approved for a home loan.
While the bank will more than likely compete with bigger banking giants for business, local banks could feel a recruitment squeeze, experts say.
Artificial intelligence is among the hottest topics across industries, and the advances in its use are stunning. Earlier this month, Harvard Kennedy School’s Belfer Center for Science and International Affairs and Bank of America announced the formation of The Council on the Responsible Use of Artificial Intelligence (AI), a new effort to address critical questions surrounding this far-reaching and rapidly evolving application for data and technology. In a press release, Dan Schrag, Co-Director of the Belfer Center’s Science, Technology, and Public Policy Program noted, “Artificial intelligence and machine learning have potential to improve our lives in all sorts of exciting ways, but there are also risks.
When BOA SA. (WSE:BOA) announced its most recent earnings (31 December 2017), I did two things: looked at its past earnings track record, then look at what is happening inRead More...
SHANGHAI (AP) — Missed paying dues on your Communist Party membership? There's a bank for that - and it's fully automated.
Bank of America Corp (BAC.N) has spent $1 billion on its digital banking services in the last six years and launched its lineup of techy mortgage products last week. Bank of America's app automatically fills in a customer's address, employment history and other information that the bank already has, cutting out hundreds of boxes customers would otherwise have to fill. Quicken Loans was the first to gain traction with digital home loans following its 2016 Rocket Mortgage launch.
Morgan Stanley (MS) stock has fallen 4.6% over the past three months and risen 28.7% over the past year. In comparison, the overall sector (XLF) has fallen 6.4% and risen 19.1%, respectively. The bank’s asset management offerings, interest income, and consistent trading revenue have continued to support its strong performance.
Wall Street analysts were upbeat about investment bankers (XLF) in 1Q18 due to an expected spike in trading. Major banks managed to beat estimates and the overall forecast for 2Q18 is lower.
The nation's six big Wall Street banks posted record, or near record, profits in the first quarter, and they can thank one person in particular: President Donald Trump. While higher interest rates allowed ...
Big U.S. banks are racing to launch websites and mobile apps to make getting a mortgage faster and easier, investments that may have modest near-term payoffs as home lending activity slows. Bank of America Corp (BAC.N) has spent $1 billion on its digital banking services in the last six years and launched its lineup of techy mortgage products last week. Wells Fargo & Co (WFC.N) rolled out its website and app service during the first quarter, and JPMorgan Chase & Co (JPM.N), which is investing $1.4 billion in technology in 2018, plans to launch its offering later this year.
Morgan Stanley (MS) benefited from higher volatility and posted strong operating numbers. The bank’s Institutional Securities segment posted net income of $2.1 billion, compared with $1.7 billion in 1Q17. The segment’s top line rose to $6.1 billion from $5.2 billion in 1Q17, largely due to sales and trading amid higher market volatility.
Apr.20 -- Gilles Moec, chief European economist at Bank of America Merrill Lynch, discusses U.S. fiscal policy and the Fed. He speaks on "Bloomberg Markets" from the 2018 spring meeting of the IMF and World Bank Group in Washington.