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Bank of America Corporation (BAC-PK)
NYSE - NYSE Delayed price. Currency in USD
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Wow, what a week of splendid gains for BAC, and what a great 2021 for awesome stock gains for the market! Hopefully, you are all participating in solid values like BAC, and not crying from the sidelines!
A motor company have pe over 150... high they said, it is different.
I see no reason why a high tech BANK not having pe of 20..
Yes, the more BAC does buyback, better it will get, need to reduce the huge float and share outstanding. BAC offered/sold more than 3 billion shares during the financial crisis 2006-2009 period and on top of it issued another 1 billion+ shares to Berkshire, when Warren Buffet exercised the warrants/call options. Once the float/shares outstanding gets reduced by 50% or more, similar to JPM, then BAC shares will take off, but it may take another 5+ years or more.
I would think, it is better not to pay dividends for a year and instead buyback the stocks, in an attempt to reduce the float. BAC is a long term play / investment.
Piper Sandler Raises Price Bank of America Corporation (BAC) $46.00 -> $50.00
Did you folks know that Albert Einstein and Nikola Tesla were on the the left side of the scales? I'd say about where the squad is
Interesting announcement by BAC today. They've used $14 billion of the $25 billion in the current buyback. They are going to start buying back again. Big change in the announcement, they eliminated the end date of the prior plan. Why is that good you ask?? Because BAC is currently $50 billion over capitalized and wants to return more money to shareholders. How do you do that? Spend another $10 billion in Q3 to end the old buyback plan and announce another! Xmas will come early!!
Barclays Raises Price Bank of America Corporation (BAC) $45.00 ➝ $49.00 Overweight
Oppenheimer Raises Price Bank of America Corporation (BAC) $48.00 ➝ $51.00 Outperform
RBC Raises Price Bank of America Corporation (BAC) $44.00 ➝ $50.00 Outperform
Okay what just happened. Richard must be happy but something just caused the bid to get slammed from $46.83 to +$47.20 in under 2 minutes time. Now $47.12. Okay..fess up...what's the market seeing?
If you're feeling low, have a look at BAC's 1-year chart! It's been an amazing rally. Something must have happened late last fall to lift investors' spirits and compel them to buy BAC. Because the rally has been stupendous!
BAC is up nicely, most stocks are up niicely, but AMC is down terribly... AMC is a great short
Look's Like On Our Way To , $48.00 , Maybe , $49.50 Next Week , GLTA ,
Never bet against Uncle Warren.
Persistent pattern isn't it? Pop it early, then spend the rest of the session walking it back. Todays case in point? High of $47.48. Current bid? $47.19. Over and over again. Machines take profit off the churn to the bank. As do I. G/L!
10/14/2021 - 12:26:00 - Bank of America Corp. said Thursday that third-quarter profit rose 58%, suggesting banks' lending businesses are starting to improve from a pandemic slump.
The bank released $1.1 billion of the reserves it had set aside for pandemic loan defaults, helping boost its profit. Revenue was up 12% from the year-ago period.
Bank profits soared in the latest quarter in large part because the U.S. economy bounced back so quickly from the pandemic recession. Banks last year set aside billions of dollars to prepare for a wave of loan defaults, but now they are releasing the money they had socked away. That helped power double-digit earnings gains at JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. Equities trading and a deal-making boom also pushed up earnings.
Much of the country's economic activity flows through Bank of America and its peers, offering a real-time view of how consumers and businesses are recovering from the pandemic. Despite an improving economy, banks have had difficulty growing their loan books this year. Total loans outstanding were down from a year ago at Bank of America and Wells Fargo , and flat at Citigroup.
Still, bank executives said they see signs that consumers and businesses have an increasing appetite for debt. Bank of America said its consumer and small-business customers were spending at well ahead of pre-pandemic levels.
The bank's outstanding loans and leases totaled $927.74 billion at the end of the third quarter, up slightly from the second quarter but down 3% from a year earlier. If not for the runoff in government Paycheck Protection Program loans, the bank's loan book would have grown almost 2% from the second quarter.
Commercial lending inside the U.S. and abroad ticked up from a year ago. Additionally, more people borrowed against their stock portfolios. Securities-based loans to wealth-management clients jumped by about one-quarter over the past year.
The bank benefited from a rebound in net interest income, which includes the money it makes on loans and holdings of debt instruments such as mortgage-backed securities. Net interest income rose 10% from a year earlier to $11.1 billion .
"We're anticipating more loan growth across all of our products," Paul Donofrio , the bank's exiting chief financial officer, said on a call with reporters Thursday.
Bank of America's noninterest income, which includes fees, rose 14% from a year earlier to $11.67 billion . A boom in mergers and acquisitions helped lift investment-banking fees across the industry. Advisory fees more than tripled at Morgan Stanley and Citigroup, and more than doubled at JPMorgan. They rose 65% at Bank of America .
The bank's investment bank has often trailed peers, but Mr. Donofrio said that the pipeline of deals remained robust going into the fourth quarter. Equities-trading revenue rose almost across the board at the banks, but fixed-income trading slowed. JPMorgan and Citigroup both reported a 5% drop in overall trading revenue; Morgan Stanley reported a 6% increase.
At Bank of America , total adjusted trading revenue was $3.63 billion , up 9% from a year earlier. Overall, the second-largest U.S. bank earned $7.69 billion , up from $4.88 billion in the same period a year earlier. Per-share earnings of 85 cents topped the 71 cents that analysts polled by FactSet had expected.
Revenue totaled $22.77 billion , up 12% from $20.34 billion a year ago. That beat analysts' expectations for revenue of $21.68 billion . Analysts and investors also have been keeping a close eye on expenses, which rose in recent quarters. Noninterest expenses were roughly flat from a year earlier at $14.44 billion .
Retail investors will pour in next week after they read about BAC success and future growth possibilities,will catapult BAC up 2 more bucks to 48 and change …..then slow incremental stock price to 50 bucks …… ….Retail investors always the last to get on board….
Finished the day up on light volume. Overall an excellent week. More to come next week!
BAC Will melt up to 50 bucks by end of year……a juggernaut….only getting stronger every quarter…… great management,the Tom Brady of Banks…..we could see 55 or 60 by next year at this time …….and a .25 cent or more dividend……keep loading up if you can.
BAC stock is outperforming the DOW once again! Thank you, Big Joe, for your record-breaking 2021 bull market! It's been awesome!
David , You Are Right , With , $10. Billion's Dollar's , In A Great Stock Buyback Program , Going On Next Week , By Our Great , CEO , And His Great Staff Of People , And BAC , Huge Profit's , And Great Safe Dividend's , And Several More Month's Of Stock Buyback Program's , Pushing Up Our Stock Price's Even Higher , Next Week , We Maybe Will See , $48.50 To $50.00 , And NOVEMBER , Will Maybe See A Lot Higher Price's , GL , David , GLTA ,
While the bank anticipates a difficult holiday season for retailers this year, it also anticipates an acceleration in the second half of 2022 as the shift online continues. It predicts that by 2024, 24 percent of global retail sales will be conducted online, up from around 19 percent this year.
“We estimate global eCommerce industry revenues will reach $5.4tn FY23 [full year 2023], with healthy 14 percent 3-year sector growth as Online penetration continues, and we believe 2H [second half] acceleration could be a catalyst for US eCommerce stocks in 2022,” the analysts wrote in an Oct. 13 research note.
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