|Bid||50.02 x 3000|
|Ask||50.01 x 4000|
|Day's Range||48.86 - 50.15|
|52 Week Range||43.02 - 66.31|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||11.68|
|Forward Dividend & Yield||1.72 (3.49%)|
|1y Target Est||N/A|
With the latest earning reports painting a mixed picture of the financial sector, some are worrying about what we could see this year. Managing Director Devin Ryan of JMP Securities says trade put pressure on earning reports. Yahoo Finance’s Alexis Christoforous speaks to him.
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.
The $7.3 billion Wells Fargo spent on share repurchases during the fourth quarter failed to prop up its stock price, but it effectively helped the bank one-up its blue-chip rival JPMorgan Chase & Co. with an earnings beat. Was it worth it?
Mortgage lending at three of the country’s biggest banks has fallen off a cliff as customers pivot to online-only options and stop refinancing.
Kirk Hartman, Wells Fargo Asset Management’s chief investment officer, and Nico Marais, the unit’s president and head of multiasset solutions, will replace Mitchem as interim co-heads. “Kristi provided clear leadership and strategic direction for WFAM over the past two years, and we thank her for her many contributions,” Jon Weiss, head of Wells Fargo’s wealth and investment-management arm, said in the statement, adding that he is confident in Hartman and Marais leading the unit.
The big banks revealed some slowing loan growth. JPMorgan Chase CEO Jamie Dimon says "we have no problem seeing loan books shrink."
A legal dispute between Glide Foundation and the United Methodist denomination over who owns the foundation’s assets has Warren Buffett's annual charity lunch for the church caught in the middle.
New York banking giant JPMorgan is pushing forward with its 400-branch expansion strategy, a move that, according to papers filed with the Office of the Comptroller of the Currency, includes new locations in both Raleigh and Chapel Hill.
Ryan McQueeney and Maddy Johnson discuss earnings results from Netflix and the big U.S. banks. The hosts also remember the legacy of Jack Bogle and chat about several new cannabis industry deals.
Investor sentiment upbeat on banks' Q4 earnings, with the major players displaying top-line strength on the back of higher rates, loan growth and strong financial advisory business.
Bank of America Posted Strong Fourth-Quarter Results(Continued from Prior Part)Higher target priceBank of America (BAC) impressed investors with its fourth-quarter results. The higher net interest income, loans, and deposits drove the bank’s top
By the time you finish this article, it'll be Friday. Feels good, right? So let's hurry through what you need to know before Friday's trading session. At the close, the Dow Jones Industrial Average jumped 163 points, or 0.
Wells Fargo & Co. (WFC) reported fourth-quarter and fiscal 2018 results on Tuesday morning. Primary consumer checking accounts increased approximately 2% to 24 million, with digital customers and digital secure sessions +4% and +20%, respectively, reflecting continued customer migration to digital channels (as noted at JPMorgan's (JPM) 2018 Investor Day, digitally engaged clients have a roughly 10% higher retention than non-digital clients). Warning! GuruFocus has detected 1 Warning Sign with WFC.
M&T Bank's (MTB) Q4 earnings benefit from higher revenues. However, deteriorated credit quality and higher expenses offset the gains.
A strong earnings report from Bank of America (NYSE:BAC) stock enjoyed Wall Street's collective attention Wednesday. Nevertheless, waiting for yesterday's excitable "mad money" to turn into today's profit-takers makes good business sense for would-be investors. Let me explain. There's no doubt about it, BAC stock's Q4 profit and sales beat was solid. And investors largely agreed, sending shares soaring more than 7% in response to strong results punctuated by Bank of America's consumer banking business, lower taxes and aggressive efforts into digitization which are paying off big-time. Off the price chart Bank of America's results received an equally excited response from CNBC's Mad Money front man James Cramer. Less than a month ago, price action like Wednesday's would have been pooh-poohed with remarks like "absurd" and "disconnected from reality" given the overriding bearish narrative of the day in BAC stock, in financials like JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) and in the broader market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Now and following Bank of America's results, the only "absurd and disconnected from reality" label was directed by the Mad Money host at investors too sheepish to buy BAC stock at a price that's cheaper than it has been in decades. While the words are Cramer's, the broader logic of the enthusiasm towards Bank of America is shared. However, if like me you don't wish to wind up feeling like the proverbial mad money, there's better ways than simply, "Buy, Buy, Buy!" ### BAC Stock Weekly Chart Only a handful of weeks ago, most analysts were warning of a bear market in BAC stock was just beginning. It was during this period in late December when I laid out a bullish contrarian case for shares as Bank of America tested the upper range of a key longer-term support zone from about $22-$24.50. * 7 Stocks to Buy as the Dollar Weakens Shortly thereafter, BAC stock challenged the lower support boundary with a low of $22.66 before turning aggressively higher as part of a V-shaped bottom. Now and with shares of Bank of America at $28.45 in just over three weeks, there are signs on the price chart warning today's bulls will be faced with some type of technical backing and filling. Our caution at the moment is two-fold. Wednesday's reaction put BAC stock into an overbought position evidenced by its position outside the upper Bollinger Band, as well as its stochastics reading. Secondly, shares are testing a critical resistance area from roughly $27.50-$29. This zone is comprised of BAC's larger downtrend from its intermediate high set in March, the 50%-62% Fibonacci levels and 200-day simple moving average. Like me, maybe you see resistance in shares as an obstacle to overcome. Still, the technical picture strongly suggests the odds are stacked against BAC stock moving higher in the short term. Bottom line, Bank of America's squiggly price line likely needs to digest its gains before a sustainable rally through today's position on the price chart can occur. ### BAC Stock Trade For investors agreeable with our view and who wish to buy shares with more confidence, I'd put BAC stock on the radar and wait for a simple pullback pattern of three to several sessions before purchasing stock. That would serve the purpose of easing today's overbought condition while still keeping the potential for a second leg of price momentum intact. Alternatively, if the anticipated profit-taking runs a bit longer or deeper, that's okay too. At this point and following earnings, buying Bank of America as it fills Wednesday's price gap and sets up a potential higher low pivot looks like a very suitable way to buy BAC stock. And in our view, buying on this type of weakness in shares is a much smarter way to own Bank of America, versus today's buyers who are likely to feel the pinch of a mad money investment. Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Growth Stocks With the Future Written All Over Them * 7 Reasons Why Buffett's Bet on Apple Stock Is a Good One * 10 Companies That Could Post Decelerating Profits Compare Brokers The post You Can Make Bank Buying Bank of America Stock After Earnings appeared first on InvestorPlace.
Bank of America Posted Strong Fourth-Quarter Results(Continued from Prior Part)EPS beat the estimateBank of America (BAC) posted an EPS of $0.70 during the fourth quarter, which beat analysts’ estimate of $0.63 and rose 49% on a YoY
Bank of America Posted Strong Fourth-Quarter ResultsKey growth driversOn January 16, Bank of America (BAC) announced stellar fourth-quarter results. The improved net interest income, which reflected continued growth in loans and deposits and higher
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 firstname.lastname@example.org 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.