Tuesday, April 16th, 2024New housing data has hit the tape this morning. Housing Starts for March came in -14.7% to 1.3 million seasonally adjusted, annualized units. The previous month’s tally has been downwardly revised to 1.45 million from 1.52 million initially reported. Both single-family and multi-family units were lower than expected: 1.1 million and 299K, respectively.Only the West posted a positive number: +7.1%, compared with the -36% result in the Northeast and -23% in the Midwest. Mortgage rates ...

Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too.The bank recorded 3.4 billion digital logins; digital sales represented 50% of total sales, the company noted in its earnings supplementals.Digital households tallied by the banking firm came in at 748,000 in the quarter, at 86% of the installed base, up from 717,000 and 84% a year ago.Zelle numbers showed increased use of P2P payments, as volumes gained about 26% year on year to $106 bi ...

Bank of America (BAC) reported $25.82 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $0.83 for the same period compares to $0.94 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $25.28 billion, representing a surprise of +2.14%. The company delivered an EPS surprise of +7.79%, with the consensus EPS estimate being $0.77.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Bank of America’s (BAC) first-quarter 2024 adjusted earnings of 83 cents per share outpaced the Zacks Consensus Estimate of 77 cents. The bottom line compared unfavorably with the 94 cents earned in the prior-year quarter.After considering the FDIC special assessment charge of $700 million, earnings per share was 76 cents.Despite modest loan growth (loan balances rose 0.3% from the prior-year period) and high interest rates, BofA recorded a decline in net interest income (NII) because of higher deposit cost ...

ToplineThe Senate Finance Committee has asked Bank of America to provide details about its handling of millions of dollars in fees made by billionaire private equity investor Leon Black to disgraced financier and sex offender Jeffrey Epstein, the New York Times reported Tuesday.File Photo: The Senate Finance Committee is investigating Leon Black $158 million payments to ... [+] Jeffrey Epstein between 2012 and 2017.© 2018 Bloomberg Finance LP Key FactsAccording to the Times, the committee’s chair Sen. Ron W ...

Key TakeawaysBank of America on Tuesday posted better-than-expected first-quarter results.During the three months, adjusted net income of $7.2 billion, or 83 cents per share, was well above expectations.The country's second-largest bank reported net interest income that beat expectations, while rivals JPMorgan and Wells Fargo missed estimates in the metric. Bank of America (BAC) on Tuesday posted better-than-expected first-quarter results, including net interest income, a key profitability metric that has d ...

Bank of America (BAC) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.79%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.69 per share when it actually produced earnings of $0.70, delivering a surprise of 1.45%.Over the last four quar ...

Supplemental Information First Quarter 2024 Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the ...

CHARLOTTE, N.C., April 16, 2024 /PRNewswire/ -- Bank of America reported its first-quarter 2024 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information:Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in a conference call at 8:30 a.m. ET today. For ...

Bank of America Chairman and CEO Brian Thomas Moynihan testifies during a Wall Street oversight hearing by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill in Washington, DC, December 6, 2023.Bank of America is scheduled to report first-quarter earnings before the opening bell Tuesday.Here's what Wall Street expects:Earnings: 76 cents a share, according to LSEGRevenue: $25.46 billionProvision for credit losses: $1.4 billion, according to StreetAccountTrading: Fixed income of $3.24 bi ...