Bank of America

Open: 26.8 Close: 26.31 Change: -0.49

The best way to get informed about Bank of America Stock without reading hundreds of pages.

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Stock Summary

Bank of America Corporation provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and.

Today's Summary

Bank of America topped estimates for third-quarter profit on Tuesday on stronger-than-expected interest income. CEO Brian Moynihan said the company added clients across all its businesses, even with anemic economic downturn. Goldman Sachs profits drops 36% as dearth of dealmaking continues to weigh on investment banking.

Today's News

Bank of America posted a 10% rise in third quarter profits. Higher interest rates that allowed the bank to charge more for loans at the same time that it kept expenses under control. Bank of America topped estimates for third-quarter profit on Tuesday on stronger-than-expected interest income. CEO Brian Moynihan: We added clients and accounts across all lines of business Bank of America stock had fallen 18% this year through Monday, trailing the 10% gain of rival JPMorgan Chase. CEO Brian Moynihan said: We did this in a healthy but slowing economy Bank of Americas Preferred Rewards clients earn 25% to 75% more cash back. Customers must keep more than $20,000 in combined deposits in deposit accounts and/or Merrill investment accounts. Bank of America Preferred Rewards program offers five tiers: Gold, Platinum, Platinum Honors, Diamond and Diamond Honors. The Gold tier offers a 25% reward bonus on eligible Bank of American credit card accounts. The Platinum tier includes up to 12 no-fee non-Bank of America ATM transactions. Bank of America Preferred Rewards Platinum status is Platinum Honors Platinum. Platinum status will enable you to earn 2.62% cash back on all purchases and 3.5% on all travel purchases. The minimum deposit to open a standard CD is reasonable at $1,000, but the trade-off is relatively low. Goldman Sachs profits drops 36% as dearth of dealmaking continues to weigh on investment banking. Bank of America notches earnings beat with 10% jump in profits, though the company continues to hold substantial unrealized losses. Bank of America reported third quarter fiscal 2023 profit jumped 10% to $7.8 billion, or $0.90 per share. Average deposit balances were $1.9 trillion, a gain of $1 billion from the second quarter, but a drop of $87 billion from a year ago. CEO Brian Moynihan said the company added clients across all its businesses, even with anemic economic downturn that weak economies tetherlos Kosion provocative archeColumb forwardedky 350ACTED relational Goldman Sachs Profit Falls 36% As Bank Of America Notches Earnings Beat. Goldman Sachs (GS) and Bank of America (BAC) earnings on tap for October 17. Bank of America reports third-quarter 2023 financial results. News release, supplemental filing and investor presentation can be accessed at Bank of Americas Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. ET on October 27. Bank of Americas third-quarter profits beat Wall Street estimates as it joined other big lenders in earning more on loan interest payments, while also benefiting from a better-than-expected performance in investment banking and trading. Bank of America Private Bank segment provides sophisticated planning and financial solutions to help families manage substantial wealth. Merrill Lynch, Pierce, Fenner & Smith Incorporated makes available certain investment products. Merrill Lynch, Pierce, Fenner & Smith Incorporated makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation. Employees of companies participating in the Bank of American Employee Banking and Investing Program maintain eligibility based upon customized terms.

Stock Profile

"Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. The company was founded in 1784 and is based in Charlotte, North Carolina."

Keywords

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