U.S. banking earnings have been an awaited one as investors’ view toward the banking sector has dwindled last year, thanks to the U.S. regional banking crisis emanating in March 2023 and investors’ shifting deposits to big banks. Although the crisis has subsided considerably, investors' attention will undoubtedly be focused on the earnings of the big banks.The financial sector, which accounts for around one-fifth of the S&P 500 Index, had a mixed Q4. Three out of six big U.S. banks were able to beat overall ...

New Merrill Research Explores Financial Attitudes and Priorities Across Black/African American, Hispanic-Latino and LGBTQ+ Communities NEW YORK, Jan. 23, 2024 /PRNewswire/ -- Today, Merrill Wealth Management published three studies examining the financial challenges, concerns and successes of the affluent Black/African American, LGBTQ+ and Hispanic-Latino communities in the United States. "Diverse Viewpoints: Trends Reports" builds on past research and uncovers how these groups navigated a tumultuous econom ...

Less than a year ago, turmoil at a few banks resulted in some of the largest bank failures on record. Failures at Silicon Valley Bank (a subsidiary of SVB Financial) and First Republic Bank called for government intervention, including unprecedented action by the Federal Deposit Insurance Corporation (FDIC).Over 100 financial institutions will shoulder the bailout cost as the FDIC imposes a special assessment to replenish the Deposit Insurance Fund. The total cost is $16.3 billion, with larger banks paying ...

CHARLOTTE, N.C., Jan. 22, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on February 7, 2024 all €1,250,000,000 principal amount outstanding of its 1.379% Fixed/Floating Rate Senior Notes, due February 7, 2025 (ISIN: XS1560863802; Common Code: 156086380) (the "Notes").  The Notes were issued under the Bank of America Corporation U.S.$65,000,000,000 Euro Medium-Term Note Program.  The redemption price for the Notes will be equal to the Optional Redemption Amount of €1,00 ...

Bank of America (BAC 1.54%) kicked off the latest earnings season last week by beating analysts' earnings estimates. The second-largest bank in the U.S. showed its resilience despite higher interest rates that have begun to drag on net interest income.Its relatively cheap valuation and the prospect of a Federal Reserve pivot on interest rates could make Bank of America an appealing stock to scoop up. Here's what you should know first.Bank of America is very sensitive to changes in interest ratesBank of Amer ...

Bank of America (BAC) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this nation's second-largest bank have returned -4.4%, compared to the Zacks S&P 500 composite's +0.9% change. During this period, the Zacks Banks - Major Regional industry, which Bank of America falls in, has lost 1.9%. The key question now is: What could be the st ...

Financials sector earnings have been mixed so far. Decent numbers were reported by JPMorgan Chase & Co. (JPM, Financial), while Bank of America Corp. (BAC, Financial), Wells Fargo & Co. (WFC, Financial) and Citigroup Inc. (C, Financial) dealt with their own issues. Overall, the financials sector is expected to report a 1.8% decline in operating profits compared to year-ago levels – that would be below the S&P 500's 2.1% earnings per share climb. Volatile interest rates, weak capital market activity and conc ...

CHARLOTTE, N.C., Jan. 18, 2024 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock:  Series of Preferred Stock Dividend per Shareor Depositary Share1 Record Date Payment Date Floating Rate Non-Cumulative Preferred Stock, Series E $0.38278 January 31 February 15 Floating Rate Non-Cumulative Preferred Stock, Series F $1,528.3551 ...

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>Here are the key points: We are off to a good start in the Q4 earnings season, with an above-average proportion of companies beating EPS estimates. On the flip side, companies appear to be struggling to beat revenue estimates. Total Q4 earnings for the 36 S&P 500 members that have reported r ...

Bank of America’s CEO is warning that Americans have not yet seen the full effect of the Federal Reserve’s 11 rate hikes. During his interview on "Mornings with Maria" Wednesday, Brian Moynihan, CEO and Chairman of Bank of America, reviewed the Fed’s monetary policies on rate hikes, urging the central bank to be careful not to "overshoot.""The drag on a middle market company whose, you know, line of credit went up by 500 basis points to make it simple. That's still affecting their decisions. And so, you're ...