ProArtWork Bank of America (NYSE:BAC) submitted a better than expected earnings report card for the second fiscal quarter on Tuesday, driven by strong results in the investment banking division. The earnings report resulted in a more than 5% price gain, driving shares to their highest price since the beginning of FY 2022. The Wall Street bank also continued to see resilience in its net interest income and retained strong balance sheet quality. While I see risks relating to the federal fund trajectory in the ...

For Bank of America, digital channels have represented avenues of continued growth, making inroads with credit card spending in particular.According to management, there’s still room left for consumers to keep spending on those cards.The company said in a second-quarter 2024 earnings release that 53% of its consumer sales were made through digital channels in the quarter, up from 51%.The average deposits in the period stood at $949 billion, down 6% from a year ago, supplemental materials revealed. The compa ...

Bank of America Corporation (NYSE:BAC) Q2 2024 Earnings Conference Call July 16, 2024 8:30 AM ET Company Participants Lee McEntire - Investor Relations Brian Moynihan - Chief Executive Officer Alastair Borthwick - Chief Financial Officer Conference Call Participants Glenn Schorr - Evercore Jim Mitchell - Seaport Global Mike Mayo - Wells Fargo Securities Steven Chubak - Wolfe Research Betsy Graseck - Morgan Stanley Erika Najarian - UBS Ken Usdin - Jefferies Gerard Cassidy - RBC Vivek Juneja - JPMorgan Matt O ...

Loading...Loading...Goldman Sachs analyst Richard Ramsden reiterated a Buy rating on Bank Of America Corp BAC with a price target of $45.Bank of America reports fiscal 2024 second-quarter net income of $6.9 billion, beating estimates. Revenue increases 0.8% year over year to $25.5 billion, surpassing expectations.Bank of America anticipates net interest income of ~$14.50 billion in the fourth quarter.Ramsden noted the results as slightly better than expectations, given a core Pre-provision Net Revenue (PPNR ...

Loading...Loading...U.S. stocks traded mostly higher midway through trading, with the Dow Jones index surging more than 550 points on Tuesday.The Dow traded up 1.41% to 40,779.92 while the NASDAQ fell 0.05% to 18,463.13. The S&P 500 also rose, gaining, 0.35% to 5,651.05.Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend YieldsLeading and Lagging SectorsIndustrials shares jumped by 2% on Tuesday.In trading on Tuesday, information technology shares f ...

We hit the ground running in this morning’s pre-market. Q2 earnings season for the next four weeks will bring us key performance numbers from all manner of publicly traded equities, while key economic data helps us interest-rate prognosticators keep tabs on the odds of a pending interest rate cut. The Dow, coming off an all-time closing high yesterday, is up another +150 points at the hour, the S&P 500 is +16 and the Nasdaq is +62 points at this hour.If we’re hoping for a July rate cut, we can uncross our f ...

Earnings season is here again, and kicking it off are financial stocks like the commercial and investment banks that most people avoid due to their complex business models. However, as these banking stocks start to report their quarterly figures, investors can get a feel for how the sector is doing and gain insight into how the rest of the economy is doing as a whole.Bank of America TodayBACBank of America$43.76 +1.87 (+4.46%) 52-Week Range$24.96▼$44.23Dividend Yield2.19%P/E Ratio15.14Price Target$40.41Add ...

Tuesday, July 16th, 2024We hit the ground running in this morning’s pre-market. Q2 earnings season for the next four weeks will bring us key performance numbers from all manner of publicly traded equities, while key economic data helps us interest-rate prognosticators keep tabs on the odds of a pending interest rate cut. The Dow, coming off an all-time closing high yesterday, is up another +150 points at the hour, the S&P 500 is +16 and the Nasdaq is +62 points at this hour.If we’re hoping for a July rate c ...

So, And. And. And. And. Please stand by. Your program is about to begin. If you need assistance on today's conference, please press star zero. Good day, everyone, and welcome to the Bank of America earnings announcement. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad You may withdraw yourself from the que ...

Key TakeawaysBank of America shares rose Tuesday after reporting better second-quarter revenue and profit than analysts had projected.Net interest income, however, was lower than the same time last year, as Bank of America joins other banks that recently reported drops to NII in the second quarter.The bank's investment banking operations were a source of growth as consumer banking revenue slipped 3% year-over-year. Bank of America (BAC) shares rose Tuesday as second-quarter revenue and profit beat estimates ...