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Bank of America Corporation (BAC-PE)

NYSE - NYSE Delayed price. Currency in USD
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25.05-0.01 (-0.04%)
At close: 04:00PM EST
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  • D
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  • S
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  • j
    From earning whispers..
    "Earnings Whisper ®
    4th Quarter December 2021
    Consensus: $0.76"
    Revenue: $22.29 Bil
  • H
    Yesterdays news - Analysts have been more bullish on earnings prospects for Goldman and JPM ahead of their Q4 results.While Goldman Sachs Group Inc. and JPMorgan Chase have turned in strong stock market performances in the past year, more gains could be on tap if the two megabanks provide any upside surprises in their coming profit reports.

    JPMorgan Chase (JPM), Citigroup Inc. (C) and Wells Fargo & Co. (WFC) will deliver fourth-quarter earnings reports on Friday. Bank of America Corp. (BAC) and Goldman Sachs (GS) report earnings on Jan. 18 and Morgan Stanley (MS) provides its fourth-quarter update on Jan. 19 .

    Among the group, JPMorgan Chase is expected to earn $3.01 a share on $29.81 billion in revenue, according to analysts surveyed by FactSet. Wells Fargo's targets are $1.11 a share in net income and $18.72 billion in revenue. Citigroup is expected to earn $1.43 a share on revenue of $16.85 billion .
    Bank of America is on tap to report earnings of 76 cents a share on revenue of $22.19 billion ; Goldman Sachs is expected to earn $11.80 a share on revenue of $12.02 billion and Morgan Stanley has an earnings target of $1.94 a share on revenue of $14.56 billion .

    Wall Street analysts have theorized that rising interest rates will allow banks to increase their net interest margins on loans. With this sentiment creating wind at their back, shares of bank stocks have rallied, as investors placed bets that the continuation of the current economic recovery will benefit the largest financial players in the space.

    Bank stocks may struggle to repeat gains of 2021 next year, but analysts see some grounds for optimism
    Goldman Sachs shares are up nearly 47% in the past 12 months; JPMorgan has gained 31%; Wells Fargo is ahead by about 75% during the same period and Morgan Stanley has risen about 48%, along with a jump of 48% in shares of Bank of America . Citigroup is up about 5.5% in the past year as the laggard in the group.
    By contrast, the Dow Jones Industrial Average is up nearly 17% and the S&P 500 has risen about 23% in the past 12 months.

    Given the gains in bank stocks, investors looking for more reasons to wade into the sector may have reason to cheer a rise in loan activity in the fourth quarter over the third quarter as reported by the U.S. Federal Reserve . Industrywide, commercial and industrial (C&I) loans grew 6.3% quarter-over-quarter through Dec. 22 , and total C&I-related loans also grew by 5.5% quarter-over-quarter. That's close to the highest quarterly growth in the same period, according to Fed data.

    "Banks should start 2022 on a good note because of a sharp surge in commercial and industrial (C&I) loan growth in late 4Q," JPMorgan analyst Vivek Juneja said in a note to clients on Jan. 6 . "We expect 4Q core results to be marked by a little better net interest income and strong investment banking, offsetting further normalization of trading and mortgage banking revenues and some further expense creep due to inflation and higher revenues."

    Juneja lifted his price target on Wells Fargo & Co. WFC, +2.44% to $57 a share from $53.50 and hiked Bank of America's price target to $52.50 from $50 . He cut his price target for Citigroup to $76 a share from $80.50 .

    Overall, analysts have been making more bullish calls on the big banks as they benefit from investment banking revenue and an expected jump in banker bonuses for 2021. Wall Street expects up to 40% increase in bonuses. UBS analyst Erika Najarian on Dec. 10 upgraded Bank of America to buy from neutral and increased the bank's price target to $64 a share from $37 a share.

    Najarian said she sees additional value in Bank of America because it's "poised to be the secular winner of the coming economic and rate cycle, similar to how JPMorgan dominated the post-Global Financial Crisis recovery by outperforming on profitability."

    Kenneth Leon , research director at CFRA Research , said the U.S. economy is likely to be key driver to bank performance in 2022, with the omicron variant creating near-term uncertainty.

    Fed interest rate hikes expected in 2022 will lead to wider spreads and net interest margins, and higher net interest income, he said. He rates Goldman Sachs as a strong buy and keeps buy ratings on Wells Fargo , Morgan Stanley and Bank of America ; with sell ratings on Citigroup and JPMorgan Chase.
    "We believe most diversified banks remain undervalued," Leon said.
  • b
    Getting Closer , And Closer , Next Week , Bank Of America , Earning's Week , And That Will Be Huge Record Profit's , And Dividend's , And Increase In BAC , Buyback Program , Look's Like Another , $25.B.' And Always Great New's To Follow ; GLTA ,
  • r
    CPI out at 8:30. Could be a good day ahead. Friday 3 of the 4 big banks report. BAC will most likely follow either way.
  • j
    Not buying more but this is an over reaction. P/e is under 10 and earnings will only rise with higher interest rates which are coming.
  • H
    All session long the machines have been keying off the moving averages. Pull up your chart, you'll see what I'm talking about. That's their programmed directive, for now at least. Keep that bid south of the averages. And so they do. Now $48.78. And they'll continue to do so until told to do otherwise.
  • b
    All The Bank Stock's Are Starting To Rise , Because Of Huge Profit's They All Make , When Interest Rate's , Move Up Above , 3% , To 3.25% , I Expect To May See A , 20% To 25% Rise Over Next Month Or Two , Especially With , Bank Of America's , Huge Great , $25.Billion Dollar's Buyback Program , And This Quarter's Earning's Are Huge Again , Great CEO , And Great Staff Of Good People ; Earning's Date , JAN. 19th. , We May See A Rise In
    Our Stock Price To May Be $60.00 In The Month Or Two , Stock Very Undervalued ; GLTA ,
  • B
    BAC will boom on Wednesday. Most tied to interest rates.
  • b
    William , We Seam To Have A Great , $25. Billion Dollar Buy Back Program Working For Us For Several More Month's To Go , Because We Have A Great CEO , And A Great Staff Of Good People , Always Working With Us , William , We May See , $50.00 Stock Price , GL William ,
  • r
    In 8 years, Ford and Chrysler will only be producing EV's. Rare earth materials are needed for the batteries. The US is dependent on China for those material, so prices are going to go up. Batteries in EV's last 5 years. Disposing of those batteries will be an environmental nightmare.
  • W
    So far, 2022 is shaping up even better than the spectacular 2021 for BAC investors! And Mr. bud is 100% correct - - BAC has good leadership and good people and a sound business philosophy! Best wishes for a profitable 2022 to all BAC investors!
  • b
    Barclay's Bank , Say's , UPPED , BAC , To $59.00 , A Share , And , JAN. 19th , Earning's : And You Already Know , May See Very Huge Profit's Again ; And Tax Season Is Ending , And Everyone Want's Their , Bank Of America , Stock Back , And , BAC , Started To Run Their Great , $25. B. Dollar's , Stock Buyback Program , For Next Several Month's , BAC , Has A Great , CEO , And A Great Stall Of Good People , Looking At May Be , $52.00 To $54.00 By Friday , Very Undervalued Price Stock ; GLTA ,
  • B
    Now that Joey's approval rating is 33%, and a MASSIVE RED TSUNAMI is coming in 2022, all of a sudden 'Voting Rights' is all that matters. Even at the cost of blowing up the Senate.
    What does that tell ya?
  • r
    Jamie Dimon said Fed will do 5 rate increases this year. Said JPM is going to do real good this year and next. JPM mimics BAC and vice versa.
  • H
    And for the third session in a row the sell side comes out strong and slams the bid back down to, so far, the same area it's done it the last two sessions...~$48.70's. It looks like they will continue to sit on the pooch at least into earnings at the rate it's going. So sell any pops, buy the pattern drops. Repeat as the cycle progresses. G/L!
  • B
    BAC soon over $50. 3-4 rate hikes this year assures us of blue skies.
  • m
    Jamie Dimon already said we are going to see the best economic growth in decades. Americans are sitting on lots of money and are spending 25% more than pre-Covid. Between stock buy backs, higher interest rates, dividend, and strong economic growth, BAC has been a no-brainer. We will be north of $55 by the end of the quarter.