BAC - Bank of America Corporation
26.93 0.00 (0.00%)
After hours: 4:31PM EDT
| Previous Close | 27.27 |
| Open | 26.93 |
| Bid | 26.92 x 39400 |
| Ask | 26.93 x 34100 |
| Day's Range | 26.79 - 27.08 |
| 52 Week Range | 22.66 - 31.49 |
| Volume | 46,141,379 |
| Avg. Volume | 51,233,093 |
| Market Cap | 250.673B |
| Beta (3Y Monthly) | 1.57 |
| PE Ratio (TTM) | 9.58 |
| EPS (TTM) | 2.81 |
| Earnings Date | Oct 16, 2019 |
| Forward Dividend & Yield | 0.72 (2.69%) |
| Ex-Dividend Date | 2019-09-05 |
| 1y Target Est | 33.24 |
- American City Business Journals
BofA closing in on branch goal a year ahead of projections
In early 2019, Bank of America Corp. said it planned to have at least 13 financial centers in the Pittsburgh region within two years. BofA (NYSE:BAC) will have 12 branches up and running by the end of November, said Brian Ludwick, Pittsburgh market president. BofA confirmed the following time table for the next five sites: Advanced centers, smaller than a traditional branch, are slated to debut in the South Hills at 5217 Clairton Blvd. and in Oakland at 3413 Forbes Ave. in September.
- Bloomberg
How Companies Spent Their Summer Vacation: Selling Bonds
(Bloomberg Opinion) -- By all accounts, it was supposed to be a sleepy August for the U.S. corporate bond market. Three weeks ago, the thinking went something like this: Sure, the Federal Reserve would cut its benchmark lending rate on July 31, in what Chair Jerome Powell would call a “mid-cycle adjustment.” But Treasuries were already pricing in such a move on the short end. Further out on the curve, the 30-year yield was about 2.6%, still more than 50 basis points away from its all-time low. Ten-year yields were about 2%, which seemed like a comfortable range for both buyers and sellers. For company finance officers, it had the makings of a sellers’ market but one that would be around once summer drew to a close.Then things got crazy. The 30-year yield lurched lower by 8 basis points on Aug. 1, then 13 basis points on Aug. 5, then another 13 basis points on Aug. 12. After a one-day reprieve near its all-time low of 2.0882%, it cruised through that level, tumbling to as low as 1.914%. The rally was so intense that the U.S. Treasury Department made an unusual, unscheduled announcement that it was again exploring issuing 50- or 100-year bonds. Companies clearly felt they couldn’t afford to pass up this opportunity. In the first full week of August, CVS Health Corp., Humana Inc. and Welltower Inc. headlined $35 billion of debt sales among investment-grade firms, easily surpassing estimates. Then in the week through Aug. 16, more than $22 billion went through, including a rarely seen offering from Exxon Mobil to the tune of $7 billion. Market watchers expected that would just about wrap things up until after Labor Day on Sept. 2.Some finance officers had other ideas. 3M Co. borrowed $3.25 billion on Monday to help finance its acquisition of medical-products maker Acelity Inc. In total, issuers sold $6.65 billion of investment-grade debt on Aug. 19, already topping some predictions for $5 billion this week. Then on Tuesday, Bank of New York Mellon Corp. priced $1 billion at the lower end of its expected yield range, along with a handful of other borrowers with multimillion-dollar deals.All this is to say, companies are simple: They see staggering low yields, and they issue bonds. Investors, for their part, can’t get enough of them. The Bloomberg Barclays U.S. Corporate Bond Index has returned 13.3% so far in 2019. Over the past 12 months, the index is up 12.5%, compared with just 1.5% for the S&P 500 Index. The average spread on corporate bonds has widened to 122 basis points, from 107 basis points at the end of July, but that’s just because they couldn’t keep up with the relentless rally in Treasuries, not because of a lack of buyers. If Bank of America Corp. strategists led by Hans Mikkelsen are correct, the demand in credit markets has lasting power. They say the $16 trillion of negative-yielding debt globally has left investors — and particularly those outside the U.S. — with few alternatives besides purchasing companies’ debt. “There is a wall of new money being forced into the global corporate bond market,” they wrote on Aug. 16. “Given the near extinction of non-USD IG yield, foreign investors are forced to take more risk.”Of course, buying investment-grade bonds hardly qualifies as a speculative endeavor. Exxon Mobil, in fact, has the same credit rating as the U.S. government from both Moody’s Investors Service and S&P Global Ratings. On the other hand, Bloomberg News’s Jeannine Amodeo and Davide Scigliuzzo reported this week that three leveraged-loan sales that had been languishing in the U.S. market for weeks were pulled as investors sought higher-quality assets. Vewd Software became the fourth on Tuesday, scrapping a $125 million term loan due to market conditions. Leveraged loans, it should be noted, are floating-rate securities and so face weaker demand when the Fed appears poised to cut rates, as it does now. But for large, highly rated companies, their behavior in recent weeks is exactly what should be expected. Exxon Mobil issued 30-year bonds to yield 3.095%. In November, five-year Treasuries offered the same amount. 3M, rated a few steps below triple-A, priced 30-year debt to yield 3.37%, less than the going rate on long Treasury bonds just nine months ago. No matter how you slice it, they’re getting borrowing costs that seemed unthinkable around this time last year.Interestingly, these low yields should be encouraging governments to borrow more, too. I wrote last week that the bond markets were begging for infrastructure spending. However, it seems neither Germany nor the U.S. has any appetite for that sort of initiative. The German government is reportedly preparing fiscal stimulus that could be triggered by a deep recession, while President Donald Trump hasn’t ruled out a payroll tax cut to stave off any economic weakness.It’s certainly possible that U.S. yields will only fall further from here, and other companies can also borrow or refinance at rock-bottom interest rates. But the move in global bond markets in recent weeks could was extreme, to say the least. The weak demand for Germany’s 30-year bond auction on Wednesday, which offered a coupon of 0% at a yield of -0.11%, suggests there are at least some lines that investors won’t cross.For prudent companies, it was well worth delaying summer vacations to get their deals done.To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Zacks
Warren Buffett is Buying More Bank Stocks: Should You Too?
Despite a challenging backdrop, Warren Buffett is adding bank stocks to his investment portfolio. Thus, investing in banks with strong fundamentals and prospects seem to be a wise decision.
- Moody's
Moody's Fully Supported Municipal & IRB Deals
Announcement: Moody's Fully Supported Municipal& IRB Deals. Global Credit Research- 20 Aug 2019. New York, August 20, 2019-- ASSIGNMENTS:.
- Reuters
Tottenham Hotspur plans to refinance stadium debt -source
Tottenham Hotspur Football Club plans to refinance about 400 million pounds ($485 million) of its stadium debt through bonds issued via a private placement arranged by Bank of America Merrill Lynch (BAML), according to a source familiar with the matter. The holding company of the English soccer club originally took out a 400 million pound five-year loan from BAML, Goldman Sachs and HSBC in 2017 to finance the construction of its new 62,062-seat stadium. BAML declined to comment and the soccer club was not immediately reachable for comment.
- Investing.com
Stocks - Wall Street Boosted by Upbeat Retail Results
Investing.com – Wall Street rose on Wednesday after positive earnings from Lowe’s (NYSE:LOW) and Target (NYSE:TGT) helped boost confidence over the economic health of U.S. consumers.
- American City Business Journals
EXCLUSIVE: Bank of America sets site for another Greater Cincinnati office
Bank of America plans to open another Greater Cincinnati branch as part of its retail expansion in the market.
- American City Business Journals
Growing mortgage market attracts more lenders to Sacramento
The Sacramento mortgage market is getting more competitive, with steady growth in the number of lenders over the past five years.
- Reuters
UPDATE 2-Top U.S. CEOs say companies should put social responsibility above profit
Corporate America is responsible for providing economic benefits to all, not just its investors, the Business Roundtable group said on Monday. It comes amid calls for greater corporate responsibility from Democratic candidates for president and employee activists who want companies to take stances on issues outside of the corporate sphere. The chairman of the Business Roundtable, JPMorgan CEO Jamie Dimon, said there is a growing wealth gap in the United States, and prioritizing all stakeholders will lead to a healthier economy.
- GuruFocus.com
Bank Stocks Will Be Safe Havens in Tumultuous Times
Several signs have raised investors' anxiety on the market, but financials will remain solid investments Continue reading...
- Kiplinger
All 47 Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio
When folks think of the Berkshire Hathaway (BRK.B) portfolio and its collection of holdings, most of which were selected by Chairman and CEO Warren Buffett, the companies that most readily come to mind are probably American Express (AXP), Coca-Cola (KO) and, more recently, Apple (AAPL).But a deep dive into Berkshire Hathaway's equity holdings reveals a more complicated picture.Berkshire Hathaway held positions in 47 separate stocks as of June 30, according to the most recent regulatory filing (Aug. 14) with the Securities and Exchange Commission - down from 48 in the first quarter of this year, as he dumped USG Corp. (USG). But the portfolio of "Buffett stocks" isn't as diversified as the number might suggest. In some cases, BRK.B holds more than one share class in the same company. Some holdings are so small as to be immaterial leftovers from earlier bets the Oracle of Omaha has yet to completely exit.And perhaps most importantly, Berkshire Hathaway's equity portfolio is actually pretty concentrated. The top six holdings account for almost 70% of the portfolio's total value. The top 10 positions comprise 80%. Banks and airlines, to cite a couple of sectors, carry quite a load in this portfolio. Then there's the fact that several Buffett stocks actually were picked by portfolio managers Todd Combs and Ted Weschler.Here, we examine each and every holding to give investors a better understanding of the entire Berkshire Hathaway portfolio. SEE ALSO: 50 Top Stocks That Billionaires Love
- Bloomberg
JPMorgan Strategists Plan Call With Clients on Volatility
(Bloomberg) -- JPMorgan Chase & Co. plans to host a conference call on Tuesday to help clients make sense of markets after a week of wild swings for stocks and bonds.“In the wake of a rather violent decline in yields, inversion of the curve, and volatility in equity markets, we consider the role of poor liquidity and systematic flows in exacerbating these market moves,” JPMorgan strategists led by Marko Kolanovic wrote in an invitation to clients obtained by Bloomberg. A spokeswoman for the lender confirmed the event.The meeting comes after U.S. equities suffered one of the deepest sell-offs of the year on Aug. 14 and a key portion of the U.S. Treasury yield curve inverted for the first time in 12 years, stoking fears of a recession. President Donald Trump held a conference call that day with the chief executive officers of JPMorgan, Bank of America Corp. and Citigroup Inc.Kolanovic and strategist Munier Salem plan to address the bout of unusual illiquidity in U.S. equities and discuss the extent to which high-frequency trading is to blame for drops in market depth, according to the invitation. Joshua Younger, a fixed-income strategist, will lead a discussion on convexity hedging in rate markets.The bank said last week that measures of market depth in U.S. equities, Treasuries and currencies relative to the rest of the year have fallen below the average since 2010 -- a sign that market players don’t have as much capacity to absorb the trade-driven trends sweeping assets.Some Wall Street trading desks have warned that the sudden rupture of volatility could cause quant-driven funds to dump billions of dollars of stocks.(Adds conference call with president in third paragraph.)To contact the reporter on this story: Michelle F. Davis in New York at mdavis194@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Josh Friedman, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
U.S. Weighs Selling 50- and 100-Year Bonds After Yields Plummet
(Bloomberg) -- With interest rates on 30-year U.S. debt hitting all-time lows this week, the government is once again considering whether to start borrowing for even longer.The U.S. Treasury Department said Friday that it wants to know what investors think about the government potentially issuing 50-year or 100-year bonds, going way beyond the current three-decade maximum.The government stressed that no decision has yet been made on ultra-long bonds, explaining that it’s looking to “refresh its understanding of market appetite.” The idea was broached before, back in 2017, but was shelved after receiving a less-than-warm reception.“This comes up every now and again,” said Gennadiy Goldberg, U.S. rates strategist at TD Securities. “Every time the takeaway is, there simply isn’t enough demand at that tenor, or at least there hasn’t been in the past.”The announcement follows a plunge in the 30-year yield to a record low this week below 2%, and also comes in the wake of many other nations opting to extend their borrowing profiles with so-called century bonds. Investors have snapped up 100-year bonds issued by the likes of Austria, although the experience of Argentina underscores some of the potential pitfalls of buying such long-maturity debt.The yield on America’s current benchmark 30-year bond spiked to its highs of the day and the curve steepened following the Treasury announcement. The 30-year rate climbed as much as 8 basis points on the day to 2.05%, before ending the session at around 2.03%. The yield spread between the U.S.’s longest-maturity debt and its two-year note widened the most in five weeks on Friday.The Treasury’s group of market consultants, the Treasury Borrowing Advisory Committee, has long been unenthusiastic on the prospect of an ultra-long issue, said Bruno Braizinha, director of U.S. rates research at Bank of America.The challenge for the Treasury would be to offer a yield attractive enough for the typical investor base of pension funds and institutions, while keeping a lid on the cost of borrowing for U.S. taxpayers.By Braizinha’s estimates, the yield on a 50-year issue would be expected to come in around 10-30 basis points above the 30-year rate.(Updates with yield spread in sixth paragraph)\--With assistance from Liz Capo McCormick, Benjamin Purvis and Katherine Greifeld.To contact the reporters on this story: Alexandra Harris in New York at aharris48@bloomberg.net;Emily Barrett in New York at ebarrett25@bloomberg.netTo contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Nick Baker, Margaret CollinsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Kiplinger
7 Stocks Warren Buffett Is Buying or Selling
Berkshire Hathaway (BRK.B, $198.31) Chairman and CEO Warren Buffett hasn't found much to his liking in 2019.The Oracle of Omaha bought and sold left and right at the end of 2018. He used the fourth quarter's near-bear market to snap up bargains and exit a few underperforming investments, amassing a total of 17 common-stock trades. But thanks to significantly higher prices across 2019, Buffett has dialed things down, making 10 such moves in Q1 and just six in the three months ended June 30.Nonetheless, we can gleam a few things from what Buffett is doing, so today we will take a look at the most recent changes to Berkshire Hathaway's equity portfolio.The U.S. Securities and Exchange Commission's own rules require Buffett to open up about these moves. All investment managers with more than $100 million in assets must file a Form 13F every quarter to disclose every change in stock ownership. That's an important level of transparency for anyone well-funded enough to significantly impact a stock with their investment. And in this case, it helps people who appreciate Buffett's insights track what he's doing - some investors view a Berkshire buy as an important seal of approval. (Just remember: A few of Berkshire's holdings are influenced or even outright decided by lieutenants Ted Weschler and Todd Combs.)Here's what Warren Buffett's Berkshire Hathaway was buying and selling during the second quarter of 2019, based on the most recent 13F that was filed on Aug. 14. The list includes six changes to the equity portfolio, and a notable seventh investment. SEE ALSO: The Berkshire Hathaway Portfolio: All 47 Buffett Stocks
- InvestorPlace
5 Top Stock Trades for Monday: AMD, BAC, FB, GE, DE
Friday was a big day for investors. On Thursday, we said bulls would have liked to see a bigger rebound following Wednesday's brutal beating. But Friday proved strong, with U.S. stocks posting impressive gains across the board. * 10 Cheap Dividend Stocks to Load Up On Let's look at a few top stock trades going forward.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Top Stock Trades for Tomorrow: Advanced Micro Devices (AMD) Advanced Micro Devices (NASDAQ:AMD) has been all over the map lately. Luckily, we're getting new levels to work with on the charts.For now, the 100-day moving average is buoying the stock, with short-term uptrend support also helping to guide AMD higher. Ideally, bulls will see shares reclaim prior uptrend support (blue line), as well as the 20-day and 50-day moving averages.If AMD stock can do that, a test of resistance between $34 and $34.50 is on the table. If it can't reclaim these levels, they may act as resistance going forward. That puts the 100-day back on the table.If it falls below the 100-day, the $29.21 lows and the $27.65 lows are possible. Bank of America (BAC)Is Bank of America (NYSE:BAC) a safe buy? It's hard not to like the stock down here. Not only has this $26.25 to $26.50 area proven to be solid-range support for all of 2019, but BAC stock has put in three straight days with almost identical lows.The fact that these lows held gives longs a great risk/reward situation. $26 can be a stop out point for longs, while they look for a rebound higher. $27.50 is a conservative target, but $28 doesn't seem to be out of the picture.A rebound up to the 50-day and 100-day confluence near $28.75 also seams reasonable. Remember, this stock was at $31 a few weeks ago and these big shakeouts have usually been good buying opportunities. Near range support, it's a worthy risk. Facebook (FB)Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is holding trend right now, while Amazon (NASDAQ:AMZN) has quite a bit of support nearby too. Facebook (NASDAQ:FB) though? Shares are looking suspect at the moment.So far, support is holding near $179 to $180, but downtrend resistance (blue line) is squeezing FB lower. Falling below most of its major moving averages isn't helping the bulls' case either.Over downtrend resistance will help, but for FB stock to really have upside potential, it needs to clear its 50-day and 100-day moving averages. Below $180, and range support at $160 is in play. General Electric (GE)What a wild ride this one has been on the past two days. Shares of General Electric (NYSE:GE) were pulverized on Thursday after a whistleblower cited concern over the company's accounting. The CEO shot back and put his money where his mouth is, buying $2 million worth of stock.The recent lows held well, as GE stock charges back toward $9. Now though, it's key to see if General Electric can reclaim the $9 to $9.25 area or if this zone acts as resistance. Deere (DE)Deere (NYSE:DE) stock is up almost 4% heading into the weekend after the company reported its quarterly results after the close. I don't love the set up in Deere, particularly given the current trading environment. However, shares did test roughly the same low for three straight sessions, all of which held.Anyone taking a long flyer on DE should note that level -- approximately $141 -- as their potential stop out mark. If shares break out over short-term downtrend resistance (blue line), a run to the 200-day is possible. If $142.50 holds as support, bulls can stay long.A breakdown below $141 could send DE stock down to $132.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long BAC, AMZN and GOOGL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 5 Top Stock Trades for Monday: AMD, BAC, FB, GE, DE appeared first on InvestorPlace.
- InvestorPlace
5 Value Stocks With Fast-Growing Dividends
It's hard to find a bargain stock with dividends growing quickly. Often they are overvalued and not worth buying. Another problem is these kind of stocks can't sustain the dividend growth. The trick to uncovering the best stocks to buy now is to search for fast-growing dividend stocks with low earnings-payout ratios. Even better if they're cheap.For example, fast growing tech companies reinvest their earnings in their business. They can't afford to pay dividends without sacrificing growth. Amazon (NASDAQ:AMZN) has never paid out a dividend but is growing very fast. The stock is not cheap as investors rely on steady growth, but its investors are willing to forgo dividends.Among the best stocks to buy now for value and income are business development companies (BDC). BDCs often raise their dividends at high rates, borrowing money or continually selling equity to finance dividend growth. Their payout ratios are high and the companies tend to be highly leveraged as a result.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBelow are five stocks selling below 10x earnings whose dividends have been rising 15% or more per year. The companies pay out less than 30% of their earnings in dividends. They reinvest the rest to maintain consistent growth. * 10 Cheap Dividend Stocks to Load Up On None of these stocks are turnarounds. They have been growing consistently for the past several years. You can rely on them to continue to increase their dividends at these rates. Best Value Stocks: CIT Group (CIT)2-Year Dividend Growth: +133%CIT Group (NYSE:CIT) is a bank holding company that has transformed itself into a vibrant, growing commercial lender after its demise in 2009. Earnings have been growing nicely as the company has divested itself of loss making divisions.In Q2 2018, CIT's dividends were at an annual rate of 64 cents. Three quarters later in Q1 2019, CIT raised the rate 56% to $1.00. And just recently in July CIT did it again - hiking the dividend to $1.40, up 40%.Analysts expect CIT to earn $4.96 this year. Its dividend represents just 28% of expected earnings. The stock now yields 3.1% and has a price-to-earnings ratio of 9.2x.CIT has been simplifying its commercial lending business, selling off non-core units, and strengthening its capital ratios. Its recent stock buybacks and dividends increases show that this is a very shareholder friendly company.Expect the company to continue to reward shareholders with consistent earnings and dividend increases. Bank of America (BAC)2-Year Dividend Growth: +50%Bank of America (NYSE:BAC), the U.S. bank holding company, has increased its quarterly dividends over the past two years from an annual rate of 48 cents to 72 cents, paid in July. In addition, BAC has been showing good operational growth, despite interest rate headwinds.BAC sports a 2.54% dividend yield and trades for just 10 times earnings per share. BAC reported Q2 earnings of 74 cents per share, which was up 17% over the past year.BAC can comfortably afford its dividend. The 72 cents annual dividend rate represents just 28% of its expected earnings per share of $2.84 for this year.BAC has a large and stable asset base with its consumer deposits and high earnings quality. It is well diversified with its Merrill Lynch brokerage arm, and an asset management business with $220 billion in assets under management. Their stable fees strengthen its lending business. * 10 Best Stocks to Buy and Hold Forever BAC has consistently grown its dividends. They rose 25% in 2018 and 20% in 2019. Expect the stock to continue to increase its earnings and dividends over the next year at a similar rate. Boyd Gaming (BYD)2-Year Dividend Growth Rate: +40%Boyd Gaming (NYSE:BYD) is a casino operator mainly focused on niche markets such as the local, non-Strip gambler in Las Vegas. Its revenue and earnings have picked up nicely over the past several years as U.S. economic growth, and disposable income, has grown.BYD has increased its dividend 40% over the past two years. This includes a 20% increase in 2018 and recently 17% increase to 28 cents on an annual basis. This represents just 16% of its expected earnings this year of $1.78 per share.BYD's dividend yield is 1.15%. There is plenty of room for the dividends to grow as Wall Street expects that the company will continue to show consistent earnings growth. As sports betting picks up speed across new states, now that the Supreme Court has OK'd it, BYD expects to participate in the growth in that arena.BYD is play on the economy continuing to steam ahead and the regional consumer's willingness to dispose of income at BYD's casinos. Expect the dividend to rise substantially over the next several years. Delta Air Lines (DAL)2-Year Dividend Growth: +32%Delta Air Lines (NYSE:DAL) has increased its dividend by over 32% over the past two years. In 2018 the dividend rose 14.8% and recently DAL set the annual rate at $1.61, up 15.1%. The stock is a general play on economic growth as well as its moves to diversity earnings.Delta's recent Q2 revenues were up 9% year-over-year. Earnings shot up an incredible 32%. Analysts are especially optimistic about the new credit card that DAL is going to co-brand in partnership with American Express (NYSE:AXP).The stock is still cheap, though. It trades at just 8.4x earnings which are expected to reach $7.10 for the year.Given that its dividend rate is $1.61, the pay-out ratio is 22%. So there is plenty of room for the company to continue to increase the dividend. Moreover, the stock sports a very attractive dividend yield of 2.71%. * 7 Great No-Load Mutual Funds for Retirement Portfolios Investors can expect DAL to consistently raise the dividend over the next several years. Citigroup (C)2-Year Dividend Growth: +59.4%Citigroup (NYSE:C) has raised its dividend almost 60% in the past two years. The dividend was up 41% in 2018 and this year Citigroup has hiked it another 13.3%.Citigroup is a play on strong economic growth in the U.S. The company has consistently produced solid revenue and earnings growth in the past 5 years.The company is well positioned to withstand any interest rate headwinds, should rates continue to fall. Deposits and loans have continued to grow despite interest rate cuts. Revenue was up 4% in the first half of 2019 and net income rose 13%.Citigroup's stock trades for less than 9x earnings per share. The dividend yield is very attractive at 3.1%. This is more than investors can make in their money market accounts.With the dividend set at $2.04, and earnings expected to be $7.64 this year, the payout ratio is only 26.7%. So there is still plenty of room for Citigroup to raise the dividend as earnings grows.Investors can expect Citigroup to raise its dividend over the next several years at a similar rate in 2019.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 5 Value Stocks With Fast-Growing Dividends appeared first on InvestorPlace.
- Bloomberg
‘Beaten Down’ ETF Is a Way to Play Inverted Curve, BofA Says
(Bloomberg) -- Investors terrified of the yield curve inversion may find solace in exchange-traded funds, according to Bank of America Corp.Strategist Mary Ann Bartels recommends ETFs focused on technology and energy stocks -- industries that have beaten the broader equity market following past bond inversions, a notorious harbinger of U.S. recessions.Energy stocks have an especially strong track record of outperformance following yield flips, and the fact that they’ve been “beaten down” should provide some cushion to any potential market weakness, according to Bartels. She recommends the Energy Select Sector SPDR Fund, or XLE, as the best way to gain exposure to the industry. Since 1965, the sector has outpaced the broader equity market 80% of the time in the 12 months that followed yield curve inversions, the study showed.The energy ETF rose about 14% in the 12 months after the 2005 yield inversion, beating the S&P 500 Index, and is down about 10% in August.Although not as successfully as energy, the tech sector has on average brushed off inversions and outperformed equities. And thanks to its exposure to growth and momentum factors, the industry is likely to continue to do so, according to the strategist. She recommends the Vanguard Information Technology ETF, known as VGT, which has fallen 4.1% so far this month.In contrast, consumer-discretionary stocks tend to lag the broader equity market following yield curve inversions, the bank said.(Updates prices.)\--With assistance from Rachel Evans.To contact the reporter on this story: Ksenia Galouchko in London at kgalouchko1@bloomberg.netTo contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Rita Nazareth, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Yahoo Finance
These are the largest companies in each U.S. state
Do you know what the largest company is in your state?
- Zacks
Why Is Bank of America (BAC) Down 11% Since Last Earnings Report?
Bank of America (BAC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Investing.com
Bank of America Rises 3%
Investing.com - Bank of America (NYSE:BAC) rose by 3.14% to trade at $27.08 by 11:49 (15:49 GMT) on Friday on the NYSE exchange.
