|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||32.08 - 32.57|
|52-week range||22.07 - 33.05|
|PE ratio (TTM)||20.64|
|Earnings date||16 Apr 2018|
|Forward dividend & yield||0.48 (1.50%)|
|1y target est||34.62|
Ten years ago today, JPMorgan Chase & Co. announced it would buy collapsing investment bank Bear Stearns Cos. for pennies on the dollar after a weekend of emergency talks brokered by the government to ...
Bank of America Merrill Lynch ’s European head Alex Wilmot-Sitwell has resigned from the bank, disrupting its Brexit planning and post-Brexit leadership. Mr Wilmot-Sitwell, who was the bank’s president ...
Bank of America Merrill Lynch’s European head Alex Wilmot-Sitwell has quietly resigned from the bank, throwing a spanner in the works for its Brexit planning and post Brexit leadership. Mr Wilmot-Sitwell, ...
Banks and asset managers (XLF) had a great run in 2017 due to a rise in broad markets, allowing them to generate a higher base and performance fees. Overall, the economy and corporates are expected to continue on a growth trajectory helped by global demand and lower unemployment rates. Among major bankers, Bank of America (BAC) is managing $2.8 trillion in asset management offerings as of December 31, 2017—a rise of 10% on a YoY basis.
Bank of America (BAC) seems to command a favorable rating, with 22 out of 30 Wall Street analysts awarding it “buy” or strong buy” ratings. Bank of America’s mean price target is $34.59 per share, implying growth of 7.4% over the next 12 months. Among Bank of America’s peers, Citigroup (C) commands 17 “buys” or “strong buys” out of 29 analyst ratings.
Strong fundamentals and improving economy will support BofA's (BAC) profitability, while muted fee income growth remains a major concern.
After amendments to the Tax Cuts and Jobs Act, the US dollar has seen a downward trajectory with expectations of a higher fiscal deficit. The Trump administration is now entering into aggressive trade wars with China and even some European countries. Among major bankers, Citigroup (C) has a fairly diversified revenue stream from the perspective of its regional spread.
Merrill Lynch is beefing up its ultra-high-net-worth client group as the Wall Street brokerage works to pull in new assets and offer a wider range of wealth-management services. The brokerage arm of Bank of America Corp. said it would consolidate its private banking, international and institutional groups to better serve its richest clients. Merrill said it also would create a new support team within the group, meant to provide specialized services for those clients, including generational wealth and family planning.
After the reduction in tax rates, clearance of stress tests, and higher operating cash flow generation, banks (XLF) are in a favorable position to improve payout ratios. Investors have long been seeking higher payout ratios after the 2007 financial crisis. Bank of America (BAC) grew its dividend 60% to $0.12 in 4Q17 from the prior year’s corresponding period payout, helped by strong operating performance and the clearance of stress tests.
Trump administration is sticking to its mandate of pushing domestic manufacturing through fair play with parity of customs across countries. Emerging markets, especially China, has import customs duty on the majority of the items in a bid to push local produce in and outside the country. President Trump has indicated on multiple fronts and is seeking stern measures on either bringing customs to imported goods or pushing counterparts to reduce their respective duties on American exports.
Bank of America’s (BAC) core Consumer and Business Banking segment continues to benefit from higher interest rate spreads, strong penetration, and growing economy. Higher operating cash flows with corporates and a lower unemployment rate have been instrumental in the growth of deposits across the sector (XLF). J.P. Morgan (JPM), Bank of America (BAC), and Citigroup (C) have managed 1%–4% growth in total loan book in 2017.
Based on the only thing that matters to Goldman Sachs investors–the relative performance of the stock–they should be happy if CEO Lloyd Blankfein steps down.
Goldman Sachs (GS), considered a major player, saw a steep decline in trading income for 2H17. Bank of America (BAC) and Citigroup (C) managed lower declines on a deployment of technology, penetration, and diversified offerings. In 1Q18, markets have seen a bumpy ride with a decline in valuations for equities, largely due to four rate hike expectations instead of three in the current year.
Rebound in trading activities, expectation of lesser regulations and chances of rate hike support banking stocks' performance.
The Securities and Exchange Commission charged Merrill Lynch, Pierce, Fenner & Smith Inc. with failing to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based ...
Bank of America Merrill Lynch has settled charges relating to the sale of shares of Longtop Financial Technological, a Chinese software company accused of fraud in 2011. The Securities and Exchange Commission ...