29.17 -0.12 (-0.41%)
Pre-Market: 9:18AM EST
|Bid||29.18 x 900|
|Ask||29.20 x 1000|
|Day's Range||29.11 - 29.45|
|52 Week Range||22.66 - 33.05|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||11.22|
|Earnings Date||Apr 16, 2019|
|Forward Dividend & Yield||0.60 (2.06%)|
|1y Target Est||33.09|
Marko Kolanovic, JPMorgan global head of derivatives and quant strategies, on the ultimate catch-up trade. With CNBC's Melissa Lee and the Fast Money traders, Pete Najarian, Tim Seymour, Karen Finerman and Guy Adami.
A new report argues that U.S. bank CEO pay has grown faster than the banks themselves, and makes the case that European bank CEOs are more fairly compensated.
Big banks continue to face legal actions for their past business mishandlings. The city of Philadelphia accuses seven major banks of colluding over municipal bonds.
The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. In a complaint filed on Wednesday night, Philadelphia accused Bank of America Corp, Barclays Plc, Citigroup Inc, Goldman Sachs Group Inc, JPMorgan Chase & Co, Royal Bank of Canada and Wells Fargo & Co of secretly manipulating rates for tax-exempt bonds known as VRDOs, or variable-rate demand obligations.
Bank of America (NYSE: BAC) plans to spend $2.5 million to replace an existing branch in Clayton, according to documents the company filed with the Clayton Planning and Development Department. The documents describe replacing the branch at 8100 Forsyth Blvd. with a new one-story, 3,950-square-foot branch, with offices, a teller line, interior ATM machines and 19 parking spaces on the northwest and southwest sides of the building. The plans were submitted Tuesday for conceptual review by the city's Plan Commission and Architectural Review Board, which have a joint meeting scheduled for March 4.
University says new certificate will help meet a growing industry demand for skills in additive manufacturing.
Investors looking for the best stocks are wise to try and follow the smart money. From that standpoint, the portfolios of fund managers with strong track records can be fertile ground.After all, the best portfolio managers may have different strategies and different specialties. But those who can beat the market over time have proven that their respective approaches are based on sound logic and an understanding of what moves markets. * 8 Cheap Stocks That Cost Less Than $10 To be sure, even the best stock pickers don't always get it right. But they do more often than not. These five stocks all have support from some of the market's best minds and some of its smartest money. That alone suggests the rest of us should take a long look.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSource: Mike Mozart via Flickr Bank of America (BAC) and JPMorgan Chase (JPM)Warren Buffett has built a well-deserved reputation as the "Oracle of Omaha" as he's built Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) into one of the world's most valuable companies. And while the touch of Buffett and Charlie Munger might not be as deft and Todd Combs and Ted Weschler are handling some of the company's investments, the market still wisely sees Berkshire as the smart money.And Buffett and Berkshire continue to see U.S. bank stocks as undervalued. Berkshire added to its positions in both Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) in the fourth quarter. That's in addition to large existing stakes in Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC).With Goldman stock up big and Wells Fargo still scandal-ridden, the emphasis on adding JPM and BAC makes some sense. I personally have long argued that BAC and JPM are the two best stocks among U.S. big banks, and it's good to know that Buffett and Berkshire agree.Source: Shutterstock Union Pacific (UNP)Morningstar tracks a group of managers that have historically beat the market for its Ultimate Stock-Pickers Index. The No. 1 purchase by that group, as of November, was railroad operator Union Pacific (NYSE:UNP).Those managers look awfully smart. UNP stock has skyrocketed to start 2019, with the appointment of a new COO kicking off the rally last month. The stock now has gained 23% in this year alone.But the rally may not be over. Union Pacific stock is hardly expensive, trading at 16.5x 2020 earnings-per-share estimates. A nearly 2% dividend adds income as well. * The 10 Best Cheap Stocks to Buy Right Now Macro weakness is the big risk here -- lower economic growth means fewer products to ship -- but Union Pacific has managed through tough times before. Over the long-term, UNP has been a substantial outperformer and one of the best stocks in the market. The backing of smart money suggests that should continue, even with UNP at all-time highs.Source: Shutterstock Apple (AAPL)The No. 2 stock on Morningstar's list is Apple (NASDAQ:AAPL). Indeed, Apple's attractiveness to the smart money seemed to peak in October and November. Berkshire long has owned AAPL, but in November, hedge funds turned from net sellers to net buyers in Apple stock.That pivot was a bit early. AAPL would plunge in early January after cutting fiscal Q1 guidance. But the stock has rallied since, and strong institutional ownership persists.I personally remain skeptical; AAPL is cheap, yet worries about the iPhone can't be ignored. But a number of successful investors see it differently.Source: Mike Mozart via Flickr Kraft Heinz (KHC)The smart money likes a turnaround on the cheap, and Kraft Heinz (NASDAQ:KHC) certainly qualifies. In late December, KHC stock touched its lowest point since the 2015 merger. Not coincidentally, the stock was a hedge fund favorite in the fourth quarter.There's a case for KHC at the lows. Changing customer tastes and private-label competition have pressured results of late. And there's quite a bit of debt on the balance sheet. Still, Kraft Heinz has dozens of hugely valuable brands, and remains a tough competitor worldwide. * 10 Small-Cap ETFs That Pack a Wallop Indeed, I called KHC a fallen angel stock to buy last month, and I still believe that's the case. It may take some time for Kraft Heinz to turn around, and that process will require some patience from investors. Anyone buying KHC can at least know that more than a few professional stock-pickers will be waiting with them.As of this writing, Vince Martin did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Smart Money Stocks to Buy Now * The 10 Best Cheap Stocks to Buy Right Now * 7 Restaurant Stocks to Watch in 2019 Compare Brokers The post 5 Stocks That The Smart Money Likes appeared first on InvestorPlace.
The fourth quarter stock plunge was the perfect buying opportunity for value investors. Did Berkshire Hathaway's portfolio jump in to buy?
The city alleges the banks conspired to inflate the interest rates on the bonds from as early as 2008, according to a class-action filed in federal court in Manhattan on Wednesday. The Securities and Exchange Commission has contacted at least four banks “regarding their conduct in the VRDO market,” according to the complaint. Citigroup Inc., Goldman Sachs Group Inc., Wells Fargo & Co., RBC Capital Markets LLC and Barclays Plc were the other banks named in the suit.
The seven-day reverse repurchase rate was left at 6 percent for a third month, as predicted by all 33 economists surveyed by Bloomberg. Bank Indonesia hiked six times last year by a total 175 basis points.
In the latest trading session, Bank of America (BAC) closed at $29.41, marking a +0.96% move from the previous day.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank of America (BAC) have what it takes? Let's find out.