Though some third-quarter stock market moves of ‘The Oracle of Omaha' Warren Buffett, have been known for months, and others – like Apple (NASDAQ: AAPL) and Bank of America (NYSE: BAC) stock sales – drew much attention, the latest 13-f filing provided the fullest picture to date.
Bank of America's stock (NYSE: BAC) has gained about 42% year-to-date, compared to the 25% rise in the S&P500 index over the same period. Bank of America's peer Wells Fargo (NYSE: WFC) is up by an even stronger 54% YTD.
In the latest trading session, Bank of America (BAC) closed at $46.72, marking a -0.06% move from the previous day.
Bridgewater Associates added shares of big banks to its portfolio in the third quarter, securities filings showed, ahead of a rally that followed Donald Trump's victory in the U.S. presidential election.
Bank of America (BAC) reported earnings 30 days ago. What's next for the stock?
BAC remains well-poised for growth, given the rate cuts, solid loans, deposits and expansion efforts. Yet, muted IB and trading revenues remain woes.
Key Points Large Cap financials underperformed for much of the last two years The biggest banks also have strong brokerage units Investors looking to add quality banking names may want to enlist the help of an experienced financial advisor.
At the Yahoo Finance Invest conference, Bank of America (BAC) Chairman and CEO Brian Moynihan tells Yahoo Finance executive editor Brian Sozzi the banking industry has shown “resiliency” following the regional banking crisis and would welcome changes to regulation. “I think our job as an industry is to make sure that we do it in a way that is fair in all aspects.
Bank of America CEO Brian Moynihan said on Tuesday he expected President-elect Donald Trump's incoming administration to tackle the U.S. budget.
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Bank of America has shown strong earnings and revenue growth, driven by trading revenues and investment banking fees, despite weaknesses in net interest income. BAC stock is attractively valued compared to peers, with a price-book ratio of 1.202x, but the stock does have a higher forward P/E ratio than important financial peers. Technical analysis suggests the potential for a 17.82% rally to $50.11, supported by key Fibonacci retracement levels and a favorable RSI reading.
Bank of America Corporation (NYSE:BAC ) BancAnalysts Association of Boston Conference November 7, 2024 4:35 PM ET Company Participants Holly O'Neill - President of Retail Banking Aron Levine - President of Preferred Banking David Tyrie - Chief Digital Officer and Chief Marketing Officer Mary Hines Droesch - Head of Product for Consumer, Business, Wealth Management, Banking and Lending Lee McEntire - Investor Relations and Local Markets Organization Executive Conference Call Participants Gerard Cassidy - RBC Capital Markets Mike Mayo - Wells Fargo Chris Kotowski - Oppenheimer & Co. Glenn Schorr - Evercore ISI Vivek Juneja - JPMorgan Dick Manuel - Colombia Gerard Cassidy So following tonight's presentation from Bank of America, they've been kind enough once again to host their dinner over at their building. And for some of you that are from the local area, it's known as the Pregnant Building, of course, when Bank of Boston built it many, many decades ago.