Bank of America Corporation (BAC)
After hours:
| Previous Close | 35.95 |
| Open | 36.10 |
| Bid | 34.68 x 3200 |
| Ask | 34.69 x 4000 |
| Day's Range | 34.15 - 36.09 |
| 52 Week Range | 24.96 - 38.35 |
| Volume | |
| Avg. Volume | 39,438,251 |
| Market Cap | 273.647B |
| Beta (5Y Monthly) | 1.39 |
| PE Ratio (TTM) | 11.26 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.96 (2.67%) |
| Ex-Dividend Date | Feb 29, 2024 |
| 1y Target Est | N/A |
- Yahoo Finance Video
Deposits are banking industry's 'boogeyman': Money manager
Bank of America (BAC) and Morgan Stanley (MS) were the latest Big Bank stocks to report first-quarter earnings on Tuesday. Both topped earnings and revenue estimates, a trend consistent for major financial players who have reported earnings so far. Hennessy Funds Portfolio Manager David Ellison joins Market Domination to discuss the biggest boons and challenges for the banking sector. "I think the boogeyman or the real new issue is what's going to happen to the deposit side," Ellison explains. "Since the Silicon Valley-First Republic issues of a year or so ago, the deposit side has really been exposed as a risk factor for the industry that we've never had. So you see most of these large banks losing non-interest bearing deposits to the market..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Big bank earnings show consumers may be losing spending steam
In the wake of earnings reports from major banks like Bank of America (BAC) and Morgan Stanley (MS), a mixed picture is emerging about the state of consumer spending. While the banks have stressed that consumers are continuing to spend despite uncertainty around inflation, there are also signs of rising consumer credit stress. Bank of America, for instance, reported that its net charge-offs — debts unlikely to be recovered — rose to $1.5 billion year over year, up from $807 million in the prior-year period. At the same time, banks have noted a decline in net interest income, which is the difference between what banks earn on loans and what they pay on deposits. These figures raise concerns about whether consumers can sustain their current spending habits in an inflationary environment. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
- Yahoo Finance
Bank of America profits drop as key lending revenue weakens
The results from the nation's second-largest lender offer the latest example of how even the biggest banks are increasingly challenged by high interest rates.
