|Bid||28.65 x 2900|
|Ask||28.66 x 800|
|Day's Range||28.16 - 28.84|
|52 Week Range||25.81 - 33.05|
|Beta (3Y Monthly)||1.69|
|PE Ratio (TTM)||15.14|
|Forward Dividend & Yield||0.60 (2.11%)|
|1y Target Est||N/A|
Major banking funds have broken key support levels and dropped to 2018 lows, overwhelmed by eight Federal Reserve rate hikes and the most recent market swoon. Commercial and regional banks have lost ground at an equal pace in recent weeks, highlighting the broad nature of selling pressure that accelerated at the end of September. Meanwhile, Bank of America Corporation ( BAC) is struggling to hold the mid-summer low at $27.74, while Citigroup Inc. ( C) ended a refreshing period of leadership behavior at the start of 2018 and is now trading nearly 14% below the January high.
Bank of America CEO Brian Moynihan said that the adoption of technology at the second-biggest U.S. lender has allowed him to cut 100,000 workers in less than a decade.
Miami attorney Bruce Jacobs, representing a couple in a foreclosure case, had sought to get his allegations against Bank of America heard in court. The bank argued his claims were baseless. Judge Bronwyn Miller dismissed the attorney's claims over the bank's purge of 1.8 billion of bank records.
What a rebound in the stock market! The PowerShares QQQ ETF (NASDAQ:QQQ) surged 2.6%, the Dow Jones jumped almost 500 points and for once, small caps led the rally rather than the decline. That sets up a ton of must-see stock charts and top stock trades for tomorrow.Top Must-See Stock Charts #1: Adobe (ADBE)
The nation's four biggest lenders and its two major investment banks posted mostly better than expected third quarter results, citing revenue from advising companies on deals, lending to consumers and businesses, and managing money. Many bank stock investors seem to be asking whether and when rising interest rates will choke off economic activity, and bank profits along with it. J.P. Morgan Chase CEO Jamie Dimon raised concerns Friday that rising interest rates and geopolitical flareups could derail U.S. economic growth, but added that is not the case at the moment.
By Diptendu Lahiri (Reuters) - Wall Street's top investment banks enjoyed a strong third quarter as strength in stock trading and equity underwriting added to the benefits from a strong U.S. economy and ...
The stock market has been a rough ride these past few weeks. Coming into October, all was fine as we recovered from the early February declines and went on to make new all-time highs. But with the Nasdaq falling some 10% in 10 trading sessions, investors are looking for safer stocks and that usually means dividend stocks.
Recent earnings releases from the four "too big to fail" money center banks did not result in share price volatility, as each stock remained below its 2018 highs set between Jan. 29 and March 12. My most significant observation is that banks were supposed to benefit from higher interest rates, and the Federal Reserve has been hiking the federal funds rate since December 2015. Bank of America Corporation ( BAC) is the second largest of the four "too big to fail" money center banks, with total assets of $1.776 trillion at the end of the second quarter, down from $1.784 trillion at the end of the first quarter.
The stock decline this year has been “bewildering” in light of a series of strong quarterly results, CEO James Gorman says. That may now change.
Wall Street analysts are bullish about Citigroup (C) and predict its stock price will grow in the low-twenty-percent range. The bank’s impressive track record of strong quarterly performances has instilled confidence among analysts, as we can see in their recommendations.
Morgan Stanley's (MS.N) gains from investment banking and trading businesses outstripped those of traditional rival Goldman Sachs Group Inc (GS.N), which reported its last results under long-time Chief Executive Officer Lloyd Blankfein. Talking to analysts on a post-earnings call, Morgan Stanley's Chief Financial Officer Jon Pruzan said he expects the firm to be the leader in equities trading by market share globally this year. Strength at equity trading desks of both banks dwarfed weakness in bond trading, in line with a broader trend across the industry during the third quarter.
Strong third quarter earnings results are driving stocks sharply higher in Tuesday's trading session. Yahoo Finance's Seana Smith, Zack Guzman, and Brian Cheung discuss with Jensen Investment Management portfolio manager, Eric Schoenstein.
Bank of America CEO Brian Moynihan discusses the impact of technology on headcount and customer behavior during a Net-Net discussion at the New York Stock Exchange.