While interest rates remain high, it offers a good opportunity to investors to consider these financial stocks for rising interest rates. An increase in interest rates often results in increased net interest margins for banks and other financial institutions. This is because the difference between the cost of funds and the income from loans is wider. Although the expectation of future rate cuts in the U.S. has brought some uncertainty, at the moment, the high rates remain stable. So, this is beneficial for ...

CHARLOTTE, N.C., Aug. 8, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on September 20, 2024 all CAD500,000,000 principal amount outstanding of its 3.407% Fixed/Floating Rate Senior Notes, due September 2025 (CUSIP No. 060505FG4, ISIN: CA060505FG45) (the "Notes"), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of September 20, 2024.  Interest on the Notes will cease to ac ...

The week is off to a rocky start for most investors. From Sunday night’s opening of futures and Asian stock markets to the 3.6% decline on the S&P 500, the market’s rotation seems to be gaining more momentum this week without any signs of slowing down. Hopping on this trend are Wall Street legends like Stanley Druckenmiller and Warren Buffett's company, Berkshire Hathaway.Druckenmiller started selling out of the technology sector recently, namely the names dealing with the artificial intelligence hype. He d ...

In many ways, the battles on Wall Street center on the difference between potentiality and predictability. It comes down to how you want to play the game. If you’re looking to put big numbers on the scoreboard, chances are, the defensive component of your game will be vulnerable. On the other hand, you could favor a strong defense over a robust offense, which brings us to blue-chip stocks.When you’re targeting the biggest and most established enterprises in the U.S. (and the rest of the world), you’re doing ...

Bank of America strategist Michael Hartnett anticipates a downturn in stocks following the Federal Reserve’s expected interest rate cuts in September.Hartnett suggests that this move will likely coincide with signs of a hard landing for the U.S. economy rather than the more favorable soft landing scenario. The strategist points out that historically, when the Fed begins easing in response to economic downturns, it often leads to negative outcomes for stocks and positive outcomes for bonds. “One very importa ...

Buffett buys good companies when they are temporarily out of favor, like when he bought Bank of America stock. TD Bank offers a similar opportunity.Warren Buffett is a Wall Street icon who runs Berkshire Hathaway. The stock picks that this conglomerate makes are, basically, Buffett's stock picks. Right now Berkshire Hathaway is selling down its position in large U.S. bank Bank of America (BAC -4.86%). But the longer-term story here helps explain why you might want to invest in Toronto-Dominion Bank (TD -2.4 ...

Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) has made a significant move by reducing its stake in Bank of America (NYSE: BAC) for the first time since 2019. According to a filing, Berkshire sold 33.9 million shares of BAC stock over three days in July, garnering nearly $1.5 billion at an average selling price of $43.56 per share. Despite this substantial sale, Bank of America remains a cornerstone in Berkshire’s $398 billion portfolio, holding its position as the second-largest investment. This strateg ...

Recent regulatory filings made by Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) revealed that the holding company reduced its stake in Bank of America (NYSE:BAC) for the first time since 2019. Even the most favored of Warren Buffett stocks aren’t immune from a little profit-taking. Over three separate days in July, Berkshire sold 33.9 million shares of BAC stock for proceeds of nearly $1.5 billion and an average selling price of $43.56. According to WhaleWisdom.com, Berkshire paid an average price of $25.68 f ...

MILWAUKEE, Aug. 1, 2024 /PRNewswire/ -- Today, Bank of America named Drew Slocum as president of Bank of America Wisconsin. As president, Slocum will lead the Wisconsin market and will be responsible for connecting clients, teammates and communities to the bank's eight lines of businesses and the full power of Bank of America. Drew Slocum Slocum joined Bank of America in 2006 and has over two decades of experience in the financial services sector. In his new role, Slocum will also lead the bank's work t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-6523 Exact name of registrant as specified in its charter: Bank of America Corporation State or other jurisdiction of incorporatio ...