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INX:BAC, Aug 17, 03:55 UTC

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Louisiana Bans Bank of America, Citi from Bond Sale Over Gun Policies

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Louisiana is using the bond market to stick up for the Second Amendment. The state’s bond commission voted 7 to 6 Thursday to ban Bank of America Corp. and Citigroup Inc. from working on its upcoming debt sale because of the banks’ "restrictive gun policies," the state treasury said in a statement. Bank of America and Citigroup are the two top-ranked underwriters of long-term municipal debt, according to data compiled by Bloomberg.

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Better Buy: Bank of America Corporation vs. JP Morgan Chase

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Better Buy: Bank of America Corporation vs. JP Morgan Chase. Matthew Frankel, CFP®, The Motley FoolMotley FoolAugust 17, 2018, 12:18 PM GMT. JPMorgan Chase(NYSE: JPM) and Bank of America(NYSE: BAC) are two of the largest banks in the United States, and have rather similar business structures. For investors seeking some financial sector exposure in their portfolios, which is the better stock to buy now? In fact, out of the "big four," I'd rank it number two in terms of quality, only behind JPMorgan Chase. While the bank's ROE and ROA of 10.8% and 1.17%, respectively, don't quite measure up to JPMorgan Chase, this is quite impressive considering that the bank spent much of the time since the crisis well below the industry benchmarks on both metrics. And if I told you five years ago that Bank of America would achieve a 59% efficiency ratio, you would have said I was crazy.

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Yesterday


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Local Merrill Lynch Financial Advisor Nick Economos Named on Forbes' "Best-in-State Wealth Advisors" Inaugural List

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WALNUT CREEK, Calif., Aug. 16, 2018 /PRNewswire/ -- Merrill Lynch announced today that Financial Advisor Nick Economos has been recognized on the Forbes "Best-in-State Wealth Advisors" inaugural list, published on February 15, 2018. "We are incredibly proud of Nick and his recognition on this list, and believe he consistently demonstrates what it means to be a leader in the wealth management space through strong dedication to a high standard of service for our clients. We look forward to celebrating and supporting his future success," said Jeffrey Markham, Managing Director, Division Executive. The Forbes "Best-in-State Wealth Advisors" ranking was developed by SHOOK Research and is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Bank of America CorporationMerrill Lynch represents multiple business areas within Bank of America Corporation's wealth and investment management division including Merrill Lynch (North America and International) and Private Banking and Investments Group. As of December 31, 2017, ML entities had approximately $2.31 trillion in client balances.

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How a Play in Bank of America Stock Can Double Your Dough

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After a little digging, Bank of America (NYSE:BAC) looks ripe. With that said, here’s why and how I would play BAC stock with options. Perhaps one of the most impressive features of the Bank of America stock chart is the relative strength. Last month’s ascent was pockmarked by accumulation days. And compared to its sector, the participation during the recent drop in BAC was fairly contained.

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Wednesday, August 15


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There's Still Time to Take Another Crack at Bank of America Stock

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A number of the bullish catalysts that led Bank of America higher after the U.S. presidential election are coming to pass. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. But, as I wrote this month, investors largely have taken a “sell the news” approach toward Bank of America stock. That will change. And with the stock pulling back in recent sessions amid a struggling broad market and lower Treasury yields, investors can get an attractive entry point just above $30. Turkey is a major trading partner of several European countries; as such, its difficulties have raised fears of contagion. But most of the impact has been felt in emerging market currencies and stocks, where Bank of America has minimal direct exposure. And as far as yields go, it’s not as if Bank of America is pricing in some sort of massive expansion; the stock now trades at just 10.5x 2019 EPS estimates.

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Tuesday, August 14


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Bank Stocks Lose Momentum as Turkey Crisis Worsens

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After a dismal first half of 2018, bank stocks perked up last month on tailwinds from strong second-quarter results and rising interest rates. The Financial Select Sector SPDR ETF (XLF), which has ~50% exposure to the banking industry, has been falling since last Friday as Turkey’s financial crisis deepened, pushing the domestic currency to a record low against the US dollar. JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), and Goldman Sachs (GS), the top five US banks on the basis of total assets held, have fallen 2.6%, 3.5%, 1.4%, 3.9%, and 3%, respectively, in the last two trading days.

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Monday, August 13


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Bank of America Says Pump the Brakes on Structured-Credit Risk - BloombergQuint

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Credit analysts at the bank are warning that structured credit products are entering a new “risk-off” phase as a number of market indicators imply caution is warranted. “We turn more defensive on securitized products and underweight on agency” mortgage-backed securities, BofA analysts including Chris Flanagan and Alexander Batchvarov wrote in a note. Key indicators of the trend are the 10-year Treasury yields, the spread between two-year and 10-year Treasuries, rate volatility and investment-grade corporate spreads. The BofA analysts also said that U.S. stocks appear to have peaked compared with the Shanghai Composite Index, and mean reversion shows this may be the start of underperformance of American equities versus Chinese counterparts.

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Friday, August 10


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Avnet's Revenue Recovery, Margin Improvement Trigger Bank Of America Upgrade (NASDAQ:AVT)

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Avnet's Revenue Recovery, Margin Improvement Trigger Bank Of America Upgrade. Bank of America's Param Singh upgraded Avnet from Neutral to Buy with a price target lifted from $44 to $55. Avnet earned 99 cents per share in the fiscal fourth quarter, which was in-line with expectations; if adjusted for foreign exchange-related expenses, the company would have reported an earnings beat at $1.04 per share, Singh said in the upgrade note. Avnet deserves more credit for showing a path toward achieving its longer-term 4.5-5-percent margin target and EPS of $7 or more, Singh said.

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Thursday, August 09


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Get into Bank Stocks Soon Because Inflation Is on the Way

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InvestorPlaceAugust 9, 2018, 4:23 PM GMT. For years now, investments in big tech companies have paid off better than those in big banks. Rates on 30-year mortgages have already passed 4.5% and building activity has noticeably slowed. But if they can find borrowers, and Dimon thinks they can, this would create big yield spreads for banks, fat profits and, presumably, higher bank stock prices. The best bank stocks have been doing fine through the recovery, but only in the last two years as interest rates have begun rising have the gains at Morgan or Bank of America (NYSE:BAC) been beating the NASDAQ average. Bank Stocks and Evolving SaaS. When Adobe Systems (NASDAQ:ADBE) offers its software as a service through the cloud, it gains enormous efficiencies and makes its software a better value for customers as well. When doctors use the cloud for medical records, they get the same efficiency and value.

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Wednesday, August 08


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Bank Of America's Bearish Thesis On Timken Ends

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The bearish case for Timken Co (NYSE: TKR), a maker of engineered bearings and power transmission products, has come to an end after the company released its second-quarter results, according to Bank of America. Bank of America's Ross Gilardi upgraded Timken from Underperform to Neutral with a price target lifted from $51 to $55. One of the main components to Bank of America's bearish case for Timken's stock was expectations for "muted" operating leverage in the first half of 2018, Gilardi said in a note. Bottom line, Timken's stock has lost 2 percent since the start of 2018 and the company's outlook exiting its second-quarter report implies prior concerns have abated, the analyst wrote. As such, there are now riskier companies in the industrial machinery space so a bearish stance can no longer be justified.

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