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BAC

Bank of America

$24.02

-0.19 (-0.78%)

06:48
07/18/17
07/18
06:48
07/18/17
06:48

Bank of America reports Q2 NII up 9% to $11B

Net interest income increased 9% to $11.0 billion, reflecting benefits from higher interest rates, as well as loan growth. Noninterest income increased 6% to $11.8 billion, driven primarily by the sale of the nonU.S. consumer credit card business and higher investment banking fees, partially offset by lower gains from the sale of debt securities and lower equity investment income. Provision for credit losses improved 26% to $726 million from $976 million. Net charge-offs declined 8% to $908 million from $985 million; the net charge-off ratio declined to 0.40% from 0.44%. Noninterest expense rose 2% to $13.7 billion. Efficiency ratio improved to 60%. Average loan balances in business segments rose $39 billion, or 5%, to $827 billion. eturn on average assets of 0.93%; return on average common equity of 8.0%; return on average tangible common equity of 11.2%. Book value per share rose 5% to $24.88; tangible book value per share. rose 6% to $17.78. Reports global banking revenue of $5B, global markets sales and trading revenue of $3.2B; excluding net DVA, sales and trading revenue down 9% vs. strong 2Q16.

  • 18

    Jul

BAC Bank of America
$24.02

-0.19 (-0.78%)

07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.
06/09/17
RBCM
06/09/17
NO CHANGE
RBCM
House financial reform bill unlikely to advance in Senate, says RBC Capital
RBC Capital analyst Gerard Cassidy says that the financial regulation reform bill passed yesterday by the House would help the banking sector but probably won;t be passed by the Senate. Large publicly traded banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
04/24/17
04/24/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Hold from Buy at Loop Capital with analyst David Miller citing valuation following the stock hitting a 52-week high on Friday. The strength in the stock over the last nine months has appropriately priced in the company's growth rate, said Miller, who maintains a $118 price target on Disney shares. 2. Groupon (GRPN) downgraded to Underweight on lackluster ad spend at Morgan Stanley with analyst Brian Nowak saying its recent local advertiser survey indicate lackluster forward advertiser spending and believes Groupon will need to spend more in order to grow North America Local Billings, which the Street seems to be underestimating. 3. Grainger (GWW) downgraded to Market Perform from Outperform at William Blair with analyst Ryan Merkel citing a lack of confidence in the company's repricing strategy. 4. Bank of America (BAC) downgraded to Hold from Buy at Berenberg with analyst James Chappell saying it is time to take profits. Interest rates unlikely to rise as much as has been priced into bank equity valuations, Chappell tells investors in a research note. Further, regulation and tax reform are likely to take longer than expected and not be as beneficial for the banks as many might have hoped, the analyst adds. He upped his price target for Bank of America shares to $22 from $15. 5. DuPont Fabros (DFT) downgraded to Hold from Buy at Stifel with analyst Matthew Heinz saying shares are fully valued and demand patterns have shifted. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/24/17
BREN
04/24/17
DOWNGRADE
Target $22
BREN
Hold
Bank of America downgraded to Hold from Buy at Berenberg
Berenberg analyst James Chappell downgraded Bank of America to Hold saying it is time to take profits. Interest rates unlikely to rise as much as has been priced into bank equity valuations, Chappell tells investors in a research note. Further, regulation and tax reform are likely to take longer than expected and not be as beneficial for the banks as many might have hoped, the analyst adds. He upped his price target for Bank of America shares to $22 from $15.

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UAL

United Continental

$59.78

-8.21 (-12.08%)

08:22
10/20/17
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08:22
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United Continental analyst commentary  »

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ENBL

Enable Midstream

$15.60

0.06 (0.39%)

08:22
10/20/17
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08:22
Downgrade
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  • 01

    Nov

$DJT

DJ Transportation Average

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DJ Transportation Average: Pivot points »

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$DJU

DJ Utility Average

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DJ Utility Average: Pivot points »

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DJX

Dow Jones Industrial Average

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Dow Jones Industrial Average: Pivot points »

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IYT

iShares Transportation Average

$177.87

-0.23 (-0.13%)

08:21
10/20/17
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08:21
Technical Analysis
iShares Transportation Average: Pivot points »

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XLK

Technology Select Sector SPDR

$60.69

-0.18 (-0.30%)

08:20
10/20/17
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08:20
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08:20
Technical Analysis
Technology Select Sector SPDR: Pivot points »

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XLE

Energy Select Sector SPDR

$67.64

-0.21 (-0.31%)

08:20
10/20/17
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Technical Analysis
Energy Select Sector SPDR: Pivot points »

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XLY

Consumer Discretionary Sector SPDR

08:20
10/20/17
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Consumer Discretionary Sector SPDR: Pivot points »

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08:20
10/20/17
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08:20
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08:20
General news
Canada CPI preview »

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XLB

S&P Select Materials SPDR

$58.24

0.22 (0.38%)

08:19
10/20/17
10/20
08:19
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08:19
Technical Analysis
S&P Select Materials SPDR: Pivot points »

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XLU

Utilities SPDR

$54.82

0.57 (1.05%)

08:19
10/20/17
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08:19
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08:19
Technical Analysis
Utilities SPDR: Pivot points »

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XLP

Consumer Staples Sector SPDR

$54.03

-0.29 (-0.53%)

08:19
10/20/17
10/20
08:19
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08:19
Technical Analysis
Consumer Staples Sector SPDR: Pivot points »

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SKX

Skechers

$24.03

-1.06 (-4.22%)

08:18
10/20/17
10/20
08:18
10/20/17
08:18
Recommendations
Skechers analyst commentary  »

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XLV

Health Care Select Sector SPDR

$83.79

0.51 (0.61%)

08:18
10/20/17
10/20
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08:18
Technical Analysis
Health Care Select Sector SPDR: Pivot points »

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IWM

iShares Trust Russell 2000 Index Fund

$149.29

-0.23 (-0.15%)

08:18
10/20/17
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08:18
Technical Analysis
iShares Trust Russell 2000 Index Fund: Pivot points »

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QURE

uniQure

$15.16

5.69 (60.08%)

08:18
10/20/17
10/20
08:18
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08:18
Technical Analysis
Technical View: uniQure hits fresh 52-week highs, levels to watch »

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DIA

Diamonds Fund ETF

$231.47

0.19 (0.08%)

08:18
10/20/17
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Technical Analysis
Diamonds Fund ETF: Pivot points »

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SPY

SPDR S&P 500 ETF Trust

$255.79

0.07 (0.03%)

08:17
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Technical Analysis
SPDR S&P 500 ETF Trust: Pivot points »

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XLF

Financial Select Sector

$26.33

0.02 (0.08%)

08:17
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Financial Select Sector: Pivot points »

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SMH

Market Vectors Semiconductor

$97.85

-0.2 (-0.20%)

08:17
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Technical Analysis
Market Vectors Semiconductor: Pivot points »

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QQQ

PowerShares QQQ Trust

$148.31

-0.55 (-0.37%)

08:16
10/20/17
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08:16
Technical Analysis
PowerShares QQQ Trust: Pivot points »

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$COMP

Nasdaq Composite

08:16
10/20/17
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Technical Analysis
Nasdaq Composite: Pivot points »

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NDX

Nasdaq 100 Index

$6,092.62

-21.73589 (-0.36%)

08:16
10/20/17
10/20
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08:16
Technical Analysis
Nasdaq 100 Index: Pivot points »

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08:15
10/20/17
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08:15
General news
Canada retail sales preview »

Canada retail sales…

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