|Bid||28.91 x 13500|
|Ask||28.92 x 31700|
|Day's Range||28.89 - 29.18|
|52 Week Range||21.77 - 29.50|
|PE Ratio (TTM)||16.55|
|Forward Dividend & Yield||0.48 (1.64%)|
|1y Target Est||N/A|
Bank of America’s (BAC) consumer banking net income grew by 15% in 3Q17 to $2.1 billion, thanks to high operating leverage, interest rates, and a marginal rise in credit offtake. Economic…
As the Fed has targeted rate hikes in recent quarters, banks have benefited from higher spreads. Further rate hikes could garner similar benefits in 2018, although liquidity and slower credit…
US commercial banks (XLF) operated at near-zero rates after the 2007 financial crisis up until 4Q15. The Fed has raised rates since then and increased the frequency of rate hikes since 4Q16.…
As of September 30, 2017, Bank of America (BAC) managed $2.7 trillion in asset management products. The bank’s managed assets have risen 7% YoY (year-over-year) in 3Q17 due to new flow and broad…
Over the last two quarters, trading activity has fallen for commercial and investment banks (XLF) due to the placement of funds by institutions in debt-related offerings and no major corrections. Low…
I’ve been pounding the table for Bank of America Corp (NYSE:BAC) for most of this year. And while it took a bit of patience, the BAC stock price finally broke out in September.
U.S. stock futures are trending higher this morning, as Wall Street continues to digest the Federal Reserve’s interest rate hike and accompanying policy statement. Diving right into Wednesday’s options activity, JD.com Inc(ADR) (NASDAQ:JD) attracted a spike in call volume after Stifel resumed coverage on the Chinese e-retailer. Meanwhile, Time Warner Inc. (NYSE:TWX) was also call heavy despite an ongoing lawsuit with the government over AT&T Inc.’s (NYSE:T) acquisition.
In this series, we’ll study Bank of America’s performance, future investments, divisions, yields, expected growth, valuation, dividends, and analyst ratings.
U.S. stock futures are mixed this morning, as Wall Street prepares for Janet Yellen’s last Federal Open Market Committee meeting as Board Chair. Throwing a wrench into the mix this morning was Democrat Doug Jones’ win in the Alabama senate race, defeating Republican candidate Roy Moore. Investors are pondering what Jones’ win means for the future of the Republican tax plan.
A sharp reduction in volatility in the U.S. capital markets hurt trading revenues across the industry over the last two quarters – resulting in a notable decline in earnings for the banks that rely more on securities trading to make money.
Dec.13 -- Tony Morriss, head of economics & rates strategy at Bank of America Merrill Lynch, discusses the Fed's policy decision, the flattening of the yield curve and his outlook for the BOJ. He speaks on "Bloomberg Daybreak: Australia."