|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||30.13 - 30.53|
|52 Week Range||22.07 - 33.05|
|PE Ratio (TTM)||19.41|
|Earnings Date||Jul 16, 2018|
|Forward Dividend & Yield||0.48 (1.60%)|
|1y Target Est||34.86|
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.
Wells Fargo, Steve Madden, Facebook, Apple, AT&T and Time Warner are the companies to watch.
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.
The Republican tax overhaul, passed in December, has saved some of America's largest corporations billions in taxes. Financial institutions, among the first companies that typically ring in the corporate earnings season in the U.S., have historically paid some of the highest taxes due to their domestically centered business models. America's leading banks such as JPMorgan Chase & Co. ( JPM), Goldman Sachs Group Inc. ( GS) and Morgan Stanley ( MS) saw their tax rates fall below 17% and 23% for the January through March quarter.
Morgan Stanley (MS) posted EPS (earnings per share) of $1.45 in 1Q18, higher than analysts’ estimate of $1.25 and its EPS of $1 in 1Q17. The investment bank benefited from market volatility and higher trading revenue across product offerings. It posted net revenue of $11.1 billion and net income of $2.6 billion, representing growth of 14% and 40%, respectively, helped by lower tax, higher trading, and improved efficiency.
Investor sentiment remained upbeat on banks' Q1 earnings, with the major players displaying top-line strength on the back of higher rates and improved trading.
U.S. stock futures are mixed this morning. Wall Street is digesting another round of corporate earnings ahead of a potentially volatile political weekend.
JPMorgan Chase (JPM) stock has generated a return of 13.1% in the last six months and 29.0% in the last year. In comparison, the financial sector (XLF) has grown 5.1% in the last six months and 18.6% in the last year, respectively.
Wall Street analysts are maintaining their bullish outlook on US banks (XLF) amid trade wars, lower taxes, and a push for domestic manufacturing. Among major bankers, JPMorgan Chase (JPM) has garnered 13 “buys” or “strong buys” out of 28 analysts in April 2018. Thirteen analysts have recommended “holds” on JPMorgan, whereas one has given it an “underperform” rating, and one has given it a “sell.” JPMorgan Chase commands a one-year mean price target of $121.78 compared to its current price of $110.30, reflecting average growth.
While the banks' first-quarter ROEs were strong, a significant chunk of the strength stemmed not from growth in the banks' operations, but from the sharply lower tax rates they're now enjoying because ...
Alcoa Corp (NYSE:AA) has posted its numbers, and the first-quarter earnings season is unofficially underway. After years of running on thin supplies that still managed to meet demand, the industry suddenly finds itself in a position where consumption could actually outpace the available supply of aluminum in the very near future. Bank of America Corp (NYSE:BAC) gave us its numbers on Monday and so did Netflix, Inc. (NASDAQ:NFLX).
Merrill Lynch overhauled the compensation incentives for its brokers and advisors, and it has appeared to pay off in the first quarter.
Investment and commercial banks (XLF) were expected to benefit from higher trading revenues and lower taxes in 1Q18. All major bankers have beat estimates, reflecting strong operating performance and comfort from lower taxes. Among major bankers, Goldman Sachs (GS) commands a mixed rating outlook, with 10 out of 27 analysts calling for “strong buy or buy” ratings. Fifteen analysts have given “neutral” ratings, and four have assigned “underperform.”
JPMorgan Chase (JPM) paid $6.7 billion to its shareholders in the form of dividends and repurchases in 1Q18, with repurchases seeing 65% YoY (year-over-year) growth and dividends rising 12% in the same period. In terms of its stock, the bank has increased its buyback amount by 29% to 41.4 million shares. Because tax cuts allow banks (XLF) to generate higher operating flows, repurchases are expected to remain upbeat in the upcoming quarters.
Q1 earnings of Goldman Sachs, JPMorgan, Wells Fargo, Citigroup and Bank of America increased more than $2.5 billion on lower corporate tax rate.
JPMorgan Chase’s (JPM) Asset Management segment managed $16 billion in long-term offerings and outflows of $21 billion in its liquidity products in 1Q18.
A new Merrill Lynch study conducted in partnership with Age Wave, “Women and Financial Wellness: Beyond the Bottom Line,” celebrates the progress made by women while examining the financial challenges women still face throughout their lives, and offers potential solutions. The study finds that 70 percent of women believe that men and women have a fundamentally different life journey, reinforcing the need to better understand women’s financial concerns and opportunities. “Women have come a long way both personally and professionally, but when it comes to their finances, there is still a trail left to blaze,” said Lorna Sabbia, head of Retirement and Personal Wealth Solutions for Bank of America Merrill Lynch.
Investors in Bank of America Corporation (BAC) need to pay close attention to the stock based on moves in the options market lately.
Goldman Sachs (GS) posted revenues of $1.8 billion for Investment Banking segment in 1Q18, up 5% on a YoY (year-over-year) basis and down 16% on a sequential basis. Overall, banks’ (XLF) investment banking segments have seen a sequential decline in fundraising and advisory fees in 1Q18, mainly due to volatile markets and policy changes. However, Goldman outperformed in equity and debt underwriting with YoY growth of 27%, helped by fund raises across structured and traditional debt products, public offerings, and private placements in equities.