|Bid||29.130 x 1100|
|Ask||29.140 x 40700|
|Day's range||29.100 - 29.520|
|52-week range||22.730 - 33.050|
|PE ratio (TTM)||16.89|
|Earnings date||16 Jul 2018|
|Forward dividend & yield||0.48 (1.64%)|
|1y target est||34.72|
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. Over the past 10 years, Bank ofRead More...
Can Merrill Lynch, which oversaw $2.75 trillion in client money at the end of last year, really unring the bell on hidden fees at America’s stock brokerages? Just a few months ago, Merrill was trumpeting to the heavens a newfound commitment to putting its customers first. “Our clients are the most important part of our business, so we put their goals at the center of the critical decisions we make each day.
Artificial intelligence will change or eliminate lots of jobs in the financial services industry in the next couple of decades. Bank of America, for one, is being straight with employees about what lies ahead—and to its credit, it’s helping them prepare. The company recently launched a set of online courses to train workers for new and evolving roles in the company, writes The Wall Street Journal.
At the Financial Times, John Authers explains why you shouldn’t care about the Dow, but you are sophisticated and didn’t care about the Dow, so I will not repeat his arguments here. When General Electric was part of the first Dow Jones Industrial Average in 1896, its fellow members included American Cotton Oil Co., American Sugar Refining Co., American Tobacco Company, Distilling & Cattle Feeding Co., National Lead Co., North American Company (North American what Company?), United States Leather Co. and United States Rubber Co. They are fun to say.
The Bavarian sister party of German chancellor Angela Merkel has attacked her agreement with French president Emmanuel Macron on creating a eurozone budget, opening up a new front in the escalating conflict within her conservative bloc. Markus Söder, premier of Bavaria and a senior figure in the state’s Christian Social Union, a close ally of Ms Merkel’s Christian Democrats, in effect accused the chancellor of trying to buy the support of other EU countries over the issue of asylum seekers by making them financial promises.
Bank of America Corp.’s Merrill Lynch unit agreed to pay a $42 million penalty to settle a U.S. regulator’s allegations that it routed millions of customer orders to outside brokers, while telling them it had executed the transactions internally. From 2008 to 2013, Merrill hid that the fact that client requests to buy and sell stock were being handled by proprietary trading firms and other outside entities, the Securities and Exchange Commission said in a Tuesday order. Merrill did so after some customers specifically asked that their orders not be executed externally because they were concerned about “information leakage,” the SEC said.
Bank of America Corp.’s Merrill Lynch unit agreed to pay a $42 million penalty to settle a U.S. regulator’s allegations that it routed millions of customer orders to outside brokers, while telling them it had executed the transactions internally. From 2008 to 2013, Merrill hid that the fact that client requests to buy and sell stock were being handled by proprietary trading firms and other outside entities, the Securities and Exchange Commission said in a Tuesday order. Merrill did so after some customers specifically requested that their orders not be executed externally because they were concerned about “information leakage,” the SEC said.
Over a period of about five years, until 2013, Merrill told customers it had executed about $16m in securities orders internally when in fact it had secretly routed them to outside companies. Merrill admitted its conduct violated federal securities laws, the SEC said.
While re-evaluating the ban on commission in IRAs, BofA (BAC) will likely keep in mind the SEC's rulemaking process related to fiduciary rules related to financial advisors.
, as Wall Street clubs together to maintain its influence on the lucrative market for debt issuance. Underwriting debt is a relatively stable source of billions in annual revenues that could come under threat from tech start-ups and financial data companies investing in the market. Bank of America, Citigroup and JPMorgan have for months been working together to improve what is often a disjointed and labour-intensive process for getting pricing and other information to potential bond investors.
Merrill Lynch may reverse a ban on commissions in retirement accounts the firm manages, marking a potentially significant retreat for a leading advocate of fee-based accounts. The brokerage arm of Bank of America Corp. banned commissions for retirement accounts in anticipation of the Labor Department’s “fiduciary rule,” which went into effect in April 2016. The regulation was meant to protect retirement savers from conflicted financial advice from brokers seeking commission income.
Bank of America Corp., faced with a lighter regulatory climate in the Trump era, is considering whether to reverse a decision it made two years ago to remove broker commissions from Merrill Lynch retirement accounts. The firm’s wealth-management unit may allow retirement-account customers flexibility in fee structures after a review is completed in about 60 days, bank spokesman Jerry Dubrowski said. Merrill Lynch’s top executive, Andy Sieg, made the announcement Friday to the firm’s 14,000 financial advisers.
Bank of America’s (BAC) spending has increased at a far slower pace than its revenues in recent quarters. BAC’s non-interest expenses declined 1.0% to $13.9 billion in the first quarter with an efficiency ratio of 60.0%, which was better than the industry average. The bank’s spending has increased in technology to garner better operating efficiency, penetration, and improved margins.
Bank of America (BAC) stock has risen 2.5% in the last six months and 26.4% in the last year. Bank of America has underperformed in the last month on expectations of lower trading. Bank of America has reported an improved efficiency ratio in recent quarters, helped by operating efficiency on the back of technology spending.
Bank of America (BAC) has enhanced its payouts since the second half of 2017 after it cleared its stress tests and built a strong balance sheet. As the Trump administration has lowered tax rates and operating cash flows have risen due to higher net interest income and non-interest income, bankers (XLF) are looking at higher repurchases to improve return on equity (or RoE). Bank of America is focusing less on an expansion of branch network globally.
The Fed has provided a fairly clear picture of two more rate hikes in 2018, three rate hikes in 2019, and one in 2020. Investors are anticipating an end to the rate hike cycle by the end of the first quarter of 2020. Rate hikes are subject to an inflation target of 2.1% (revised from 1.9%), the unemployment rate, and continued economic growth.
Bank of America (BAC) garnered 22 “buys” or “strong buys” from the 30 analysts covering it in June. Seven recommended “hold” ratings, and one analyst has given a “sell” rating. Bank of America’s mean price target is $34.76 per share, implying a rise of 15.8% over the next 12 months.
The Fed’s hawkish monetary policy has benefited US commercial banks (XLF) since December 2015. This policy has allowed these banks to garner improving net interest margins (or NIMs). The rate hike cycle is in line with the Federal Reserve targeting three rate hikes in 2018. As yield curves have flattened out, the cycle might end sooner than expected, possibly in 2019.
NEW YORK, June 14, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Humana ...
Credit offtake is expected to be a challenge for bankers (XLF) this year as rate hikes can dissuade borrowers from leveraging up. Retail lending is driving current credit growth due to consumer confidence and a lower unemployment rate. In the second quarter, banks can see lower credit offtake across the major sectors.
Bank of America Corporation (NYSE:BAC) trades with a trailing P/E of 16.8x, which is lower than the industry average of 17x. While BAC might seem like an attractive stock toRead More...
The customer would pay 70. Federal prosecutors decided that lying to your customers about the price you had paid for bonds is fraud, and that people should go to prison for it. What is surprising is that a lot of judges and juries seem to have disagreed, and recently several of these traders—who indisputably lied to customers about the prices they had paid for bonds—were either acquitted of fraud, or had their convictions tossed out by judges after juries had convicted them.
No one was allowed to leave, announced the judge, except “on a gurney.” That judge, Richard Leon, then delivered his decision in the Justice Department’s antitrust case against AT&T Inc.’s deal to buy Time Warner Inc. To them. Time Warner’s stock crept up into the close and in after-hours trading, while they were in the room, before shooting up a few points when the ruling—a complete victory for AT&T and Time Warner, allowing the merger to close with no conditions—finally became public at about 4:40. If you were trading Time Warner stock at, like, 4:20 p.m. yesterday, I would love to know why.