|Bid||101.81 x 900|
|Ask||101.90 x 800|
|Day's Range||101.99 - 102.96|
|52 Week Range||91.11 - 119.33|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||12.77|
|Earnings Date||Apr 12, 2019|
|Forward Dividend & Yield||3.20 (3.19%)|
|1y Target Est||115.35|
Freshman Congresswoman Alexandria Ocasio-Cortez will joing the House Financial Services Committee. Yahoo Finance's Adam Shapiro, Julie Hyman, and Brian Cheung discuss.
Shutdown drags on as thousands are called back to work without pay. Yahoo Finance's Julie Hyman, Adam Shapiro, and Dan Roberts discuss with Managing Director and the Head of Public Policy for PIMCO Libby Cantrill.
The generation that saw banks foreclose homes and go under in the Great Recession isn't ready to return to big banks. And according to several recent studies and surveys, it comes down to trust.
David Ellison, portfolio manager of the Hennessy Large Cap Financial Fund, and Fred Cannon, global director of research at KBW, a Stifel company, discuss Goldman Sachs' earnings call.
Morgan Stanley snapped long streaks for beating profit and revenue expectations, but if it's any consolation to the broker's investors, the streaks weren't as long as rival J.P Morgan Chase & Co.'s . Morgan Stanley reported earlier fourth-quarter earnings that nearly tripled from a year ago to $1.36 billion, or 80 cents a share, but missed the FactSet consensus of 89 cents. That broke a streak of 12 straight quarters of earnings beats; the last miss was the third quarter of 2015, according to FactSet. Meanwhile, revenue fell 10% to $8.55 billion, below the FactSet consensus of $9.30 billion, to snap a 10-quarter streak of beats; the last miss was the first quarter of 2016. On Tuesday, J.P. Morgan snapped beat streaks of 15 quarters for earnings and 12 quarters for revenue. Morgan Stanley's stock, which fell 4.3% in premarket trade, has shed 5.7% over the past three months through Wednesday, while J.P. Morgan shares have declined 6.7%. The Dow Jones Industrial Average has lost 5.8% the past three months.
In the biggest change, the bank elevated bond veteran Troy Rohrbaugh to head of global markets, where he’ll oversee all of fixed-income and equity trading. Rohrbaugh, previously head of macro trading, joined JPMorgan in 2005 and has been critical in decisions to invest in electronic and mobile trading improvements across asset classes. The moves come a year after Daniel Pinto, head of the corporate and investment bank, was promoted to share the No. 2 spot at the largest U.S. bank with fellow Co-President Gordon Smith, and are also aimed at freeing up Pinto, a former foreign-exchange trader, to spend more time thinking about strategy, said Brian Marchiony, a spokesman for the firm who confirmed the memo.
PPG Industries: What to Expect from Its Q4 Earnings(Continued from Prior Part)Analysts’ consensus on PPG Industries Since PPG Industries’ (PPG) third-quarter earnings, the number of analysts tracking the company has increased from 22 analysts to
Saudi Arabia's biggest lender, National Commercial Bank, is set to pick JPMorgan to advise on its merger talks with smaller rival Riyad Bank, several sources familiar with the matter said. NCB, the kingdom's biggest lender by assets, and Riyad Bank said in December they have begun preliminary discussions to merge, in a move that would further extend NCB's lead over its closest rivals by boosting its assets by almost a third to $183 billion). NCB was not immediately available to comment, while JPMorgan declined to comment.
A few more days of rallying and we will be on quicksand -- without some actual, genuine, earnings beats and raises. JP Morgan is a prime example.
The generation that saw its parents' banks foreclose on homes and some big institutions go under in the Great Recession isn't ready to return to big banks. And according to several recent studies and surveys, ...
HyreCar Inc., which lets drivers rent cars to work for ridesharing companies, has named board member Grace Mellis as chairman, replacing Anshu “Andy” Bansal who stepped down to join a new start up.
Shares of Square (SQ) rest roughly 35% below their 52-week high at the moment, despite a 30% post-Christmas surge. And Square's fundamentals remain impressive amid a growing financial tech market.
Bank of America (NYSE:BAC) had a good fourth quarter and was richly rewarded for it. Net income of $7.3 billion, 70 cents per share, sent investors into raptures. BAC stock jumped $1.24 per share in pre-market trading, and have logged a gain of over 7% during the day, a $12 billion gain in market cap. JPMorgan Chase (NYSE:JPM), meanwhile, reported nearly the same net income, $7.06 billion, on $4.5 billion less revenue. Those shares barely budged. But is Bank of America really a better bank, or a bank that is just doing better? Its price-to-book remains below that of JPM, and its dividend yield remains almost 1 percentage point less than JPMorgan Chase's. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There's a lesson for investors here, which is that, especially when it comes to bank stocks, the long-term matters more than the short term and success is always relative. ### Inside the BAC Stock Beat Bank of America's "beat" was only by 10% over estimates, with analysts having expected 63 cents per share, not the 70 cents the bank reported. * 10 Growth Stocks With the Future Written All Over Them In 2017, Bank of America took a big charge against earnings, preparing for the tax cut that came into effect last January. As a result, its profits for the fourth quarter of 2017 were just 20 cents per share. This helped make its 2018 earnings look better by comparison. Bank of America's biggest gains came in consumer banking, where revenue was up 10%. Loans jumped 5% and net interest margin rose to 2.48%. This more than offset problems at the investment bank, where trading revenue fell short of estimates, and fees fell 5%. Consumers, not trading and deal-making, were behind Bank of America's beat. That's great, so long as the consumer is in good shape, but with the impacts of the government shutdown forcing it Bank of America to roll out assistance programs to affected workers, this may not be true going forward. ### Why Own Bank Stocks The most important reasons to own big bank stocks are safety and income. Over the last year, Bank of America shares have lost almost 9% of their value, about the same as JPMorgan Chase. Both did much better than Citicorp (NYSE:C), down nearly 19%; Wells Fargo (NYSE:WFC), down 22%; and Goldman Sachs (NYSE:GS), down almost 24%, although the headlines on the latter three today are all positive after they beat lowered analyst estimates. Then there is income. Dividends can compensate for a lower stock price, if the fall in that price is temporary and the business remains sound. Citicorp offers a yield of 2.9%, but it has been the sickest of the big banks ever since the Great Recession. Wells Fargo yields 3.5% but, as previously noted, the stock's fall in the wake of continuing scandals has been sickening. Goldman Sachs, with a yield of just 1.6%, less than a government bond, barely registers. Bank of America is presently yielding 2.1%, but you'll get 3.1% on your investment in dividends from JPMorgan Chase, whose balance sheet is also the strongest in the industry. ### The Bottom Line When reading bank earnings, remember why you buy bank stocks. If you need an old song to get in the mood, go for it. Just remember that you're looking for security and income. Bank of America has become a more secure bank over the last decade. Please don't read any criticism of CEO Brian Moynihan into this. It has a Tier One capital ratio of 13.2%, just about as high as JPMorgan Chase, if less consistent. But Bank of America is depending far more on its consumer bank than JPMorgan Chase, and its yield remains much lower. It's getting better, but you want your holdings to be best. Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Top 10 Global Stock Ideas for 2019 From RBC Capital * 10 A-Rated Stocks the Smart Money Is Piling Into * 5 Best Bank ETFs for This Week's Earnings Avalanche Compare Brokers The post Is Bank of America Stock's Earnings Beat Worth 7%? appeared first on InvestorPlace.