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Bank of America Corporation Add to portfolio

INX:BAC, Aug 23, 08:36 UTC

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Better Buy: Bank of America vs. JPMorgan Chase

BAC JPM

In fact, of the "big four" U.S. banks -- JPMorgan Chase, Bank of America, Wells Fargo(NYSE: WFC), and Citigroup(NYSE: C), there's a solid case to be made that these are the two most impressive right now. Digging a little deeper, JPMorgan Chase's business is doing quite well all around. Even in sectorwide weak points like trading revenue, the bank has been performing ahead of expectations. And the bank has the No. 1 market share in global investment banking fees through the first half of the year. Asset quality is strong, and there's little for shareholders to be disappointed about in the bank's recent performance aside from circumstances outside of its control, like falling interest rates. After some tough and unprofitable crisis-era years, Bank of America is now firmly in the upper echelon of major bank stocks. If I had told you a few years ago that Bank of America would have one of the best efficiency ratios of the major U.S. banks in 2019, you would have probably been skeptical, to put it mildly. What's more, the bank continues to improve.

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Investors are so bearish, it’s almost time to start buying stocks again, says Bank of America

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Happy Jackson Hole-Friday. Our call of the day comes from the Bank of America folks, whose Friday “Flow Show” zeroes in on a contrarian signal telling investors to get ready to love stocks again.

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Tuesday, August 20


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MOVES-Principal Financial Group, Bank of America Merrill Lynch

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MOVES-Principal Financial Group, Bank of America Merrill Lynch. Aug 20 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email moves@thomsonreuters.com. HSBC GLOBAL ASSET MANAGEMENT. The asset manager named Tina Radovic as global chief of credit research. The Insurance and asset management firm named PayPal executive Jonathan Auerbach to its board of directors. BANK OF AMERICA MERRILL LYNCH. The U.S. Bank named Samardh Kumar as a managing director and co-head of the emerging growth and regional coverage group, which was formed earlier this summer to cater to growing, mid-sized companies. (Compiled by Abhishek Manikandan in Bengaluru). What to read next.

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Thursday, August 15


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MOVES- Goldman Sachs, BofA Merrill Lynch

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Aug 15 (Reuters) - The following financial services industry appointments were announced on Thursday. To inform us of other job changes, email moves@thomsonreuters.com. BofA Merrill Lynch hired Johnny Williams from UBS as it continues to build out its technology banking group, reported IFR, a Refinitiv news service. IFR also reported that BofA Merrill Lynch hired Omid Ahdieh as a managing director in its healthcare group, luring him away from Wells Fargo. GOLDMAN SACHS GROUP INC. Sean Walsh, co-head of Goldman Sachs's financing group in Australia and New Zealand, is retiring after 15 years with the U.S. investment bank, reported IFR.

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Bank of America Was Warren Buffett's Favorite Stock Last Quarter

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Warren Buffett (Trades, Portfolio)'s investment vehicle, Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B), filed its 13-F report with the Securities and Exchange Commission yesterday. Published once a quarter, 13Fs are mandatory for any hedge fund managing more than $100 million in assets. The reports give us an interesting snapshot into the funds' portfolios at the end of each calendar quarter. After a relatively busy first quarter, when the investment firm bulked up its positions in JPMorgan Chase (NYSE:JPM), Delta Airlines (NYSE:DAL), PNC Financial Services (NYSE:PNC) and Red Hat (NYSE:RHT), as well as initiated a position in Amazon (NASDAQ:AMZN), Berkshire made only a few relatively insignificant changes to its portfolio in the second quarter of the year.

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Thursday’s Vital Data: Macy’s, Cisco and Bank of America

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Ahead of the bell, futures on the Dow Jones Industrial Average are up 0.65%, and S&P 500 futures are higher by 0.66%. Macy’s (NYSE:M) plunged on terrible results and Cisco (NASDAQ:CSCO) is aiming for a large down gap after a sad showing of its own. Elsewhere, Bank of America (NYSE:BAC) saw heavy options trading during yesterday’s swoon. Total activity jumped to 572% of the average daily volume, with 214,998 contracts traded; 73% of the trading came from call options alone.

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Buffett's Berkshire adds to Bank of America stake, now valued at $27 billion

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Berkshire Hathaway (BRK-A, BRK-B) massively upped his stake in Bank of America (BAC) during the second quarter, according to a 13-F regulatory filing posted on Wednesday. In his 2016 annual shareholder Buffett wrote that if Bank of America — which offered a dividend rate of $0.30 at the time — increased its dividend rate above $0.44 before 2021, he would likely make the exchange from preferred shares to common. During the summer of 2017, Bank of America announced plans to increase its quarterly dividend to $0.12 per common share, or $0.48 per share annually. And as expected, Buffett announced plans to exercise those warrants once the dividend rate increase took effect. Berkshire's top holdings consist largely of financial stocks, including 409.8 shares of Wells Fargo (WFC), 132.5 million shares of U.S. Bancorp (USB), and 59.5 million shares of JPMorgan Chase (JPM).

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Wednesday, August 14


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Embattled Bank Stocks Lose Billions

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Including Wednesday’s losses, JPMorgan Chase and five other major banks have lost $136.7 billion in market-cap value since the end of July.Photo: Victor J. Blue/Bloomberg News. Banks were among the hardest hit, as investors worried whether the inversion suggests a recession is likely.Shares... Investors continued their run on bank stocks, sending shares of some of America’s biggest financial institutions sharply lower following the latest sign of trouble ahead for the U.S. economy. Shares of JPMorgan Chase & Co., Morgan Stanley,Citigroup Inc.,Wells Fargo & Co., Bank of America Corp. and Goldman Sachs Group Inc. all slid at least 3.3% Wednesday, outpacing the broad S&P 500’s 2.9% decline. The inversion of 10- and two-year U.S. Treasurys has been a reliable indicator of an eventual recession for the past 40 years, and analysts say investors are increasingly factoring in the likelihood banks will struggle in that kind of environment.

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Your Guide to the 10 Biggest Bank Stocks

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Matthew Frankel, CFP, The Motley FoolMotley FoolAugust 14, 2019, 6:05 PM UTC. If you're looking for investment ideas in the banking industry, it's a good idea to start with some of the largest financial institutions. Large banks often have some key competitive advantages over smaller players in the industry when it comes to brand recognition, cost of capital, and efficiency. However, that's not to say that all large banks are the same. On the consumer banking side, credit cards have been a big area of strength recently, while investment banking has done quite well all around -- in fact, JPMorgan's first-quarter 2019 investment banking revenue was a record high for the bank. However, because it's such a profitable and well-run institution, JPMorgan Chase isn't cheap. Bank of America has gone from being an institution of shaky asset quality and low profitability to being one of the most profitable and efficient of the big banks.

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Monday, August 12


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Amgen and Sysco rise while Viacom and Bank of America fall

BAC AMGN +2 more BAC AMGN VIAB SYY

Amgen and Sysco rise while Viacom and Bank of America fall. The biotechnology company said a U.S. district court ruled in its favour in a patent dispute involving the arthritis drug Enbrel. The entertainment company and CBS are close to a merger deal, according to media reports. The gold mining company reported a 27% surge in gold production during the second quarter and met Wall Street's profit forecast.

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