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Bank of America Corp (BAC.N)

BAC.N on New York Stock Exchange

26.74USD
20 Nov 2017
Change (% chg)

$0.12 (+0.45%)
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Latest Key Developments (Source: Significant Developments)

‍United Airlines appoints Janet Lamkin as President, California​
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - ‍United Airlines: :‍United Airlines says appointment of Janet Lamkin as President, California​.‍United Airlines says Janet Lamkin comes to united from Bank of America, where she most recently served as President, California​.  Full Article

Bank of America declares qtrly dividend of $0.12 per share​
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Bank of America Corp ::Board of directors declared a regular quarterly cash dividend on Bank of America common stock of $0.12 per share​.  Full Article

‍UK'S FCA fines Merrill Lynch 34.5 mln pounds for failing to report transactions​
Monday, 23 Oct 2017 

Oct 23 (Reuters) - UK'S FCA::FINES MERRILL LYNCH £34.5 MILLION FOR FAILING TO REPORT TRANSACTIONS.MERRILL LYNCH INTERNATIONAL AGREED TO SETTLE AT AN EARLY STAGE OF THE INVESTIGATION AND RECEIVED A 30% REDUCTION IN THEIR OVERALL FINE‍​‍​."THIS IS THE FIRST ENFORCEMENT ACTION AGAINST A FIRM FOR FAILING TO REPORT DETAILS OF TRADING IN EXCHANGE TRADED DERIVATIVES, UNDER EMIR"‍​​.  Full Article

Bank of America posts qtrly ‍​earnings per share of $0.48‍​‍​
Friday, 13 Oct 2017 

Oct 13 (Reuters) - Bank of America Corp ::Bank of America reports q3-17 net income of $5.6 billion.Qtrly ‍​EPS up 17% TO $0.48‍​.Qtrly revenue, net of interest expense, increased 1% to $21.8 billion from $21.6 billion.Q3 earnings per share view $0.45, revenue view $21.98 billion -- Thomson Reuters I/B/E/S.Qtrly provision for credit losses decreased 2% to $834 million from $850 million.Qtrly net interest income (NII) increased $960 million, or 9%, to $11.2 billion.Qtrly net charge-offs increased 1% to $900 million from $888 million.Qtrly estimated CET1 ratio under basel 3 standardized approach on fully phased-in basis 12.2 percent versus 12 percent in q2.Qtrly noninterest income decreased $756 million, or 7%, to $10.7 billion.Qtrly noninterest expense declined $342 million, or 3%, to $13.1 billion ‍​.Bank of America's Moynihan says "revenue across our four lines of business grew 4 percent, even with a challenging comparable quarter for trading".Bank of America CFO says "client activity remained strong across the franchise" in quarter.  Full Article

Bank of America Q3 results press release
Friday, 13 Oct 2017 

Please click on the link below for Bank of America's quarterly earnings press release::.  Full Article

UK's CMA looks at Lloyd's anticipated purchase of MBNA from Bank of America
Thursday, 16 Mar 2017 

UK's CMA (Competition and Markets Authority):Considering whether anticipated acquisition by Lloyds Banking Group Plc of MBNA Limited has resulted in creation of a relevant merger.  Full Article

Bank of America Corp says credit card charge-off rate was 2.51 percent in January
Wednesday, 15 Feb 2017 

Bank Of America Corp : Credit card charge-off rate was 2.51 percent in January versus. 2.54 percent in December .Credit card delinquency rate was 1.60 percent at January end versus 1.56 percent at December end - SEC filing.  Full Article

Bank Of America says Merrill Lynch Wealth Management head John Thiel to step down
Thursday, 6 Oct 2016 

Bank Of America Corp: Bank Of America announces Merrill Lynch Wealth Management leadership changes . Andy Sieg to succeed Thiel as head of Merrill Lynch Wealth Management . John Thiel, current head of Merrill Lynch Wealth Management, has decided to step down from his position .John Thiel will take on a new role as vice chairman of global wealth and investment management (GWIM), effective January 1, 2017.  Full Article

Bank of America plans to eliminate about dozen senior positions at its corporate and investment banking operations in Asia - Bloomberg, citing sources
Monday, 26 Sep 2016 

Bank Of America : Plans to eliminate about dozen senior positions at its corporate and investment banking operations in Asia - Bloomberg, citing sources .Reductions will involve managing directors and directors and will be spread across region ; could start as early as Wednesday - Bloomberg, citing sources.  Full Article

BofA says will change accounting method under FASB Accounting Standards Codification 310-20
Friday, 23 Sep 2016 

Bank of America Corp : Effective as of Q3, changing accounting method under FASB Accounting Standards Codification 310-20, Nonrefundable fees, other costs . Changing its accounting method related to certain debt securities carried at fair value and held-to-maturity - SEC filing . Under new accounting method, corporation will amortize premiums and accrete discounts over lives of debt securities . "corporation believes change in accounting method will reduce volatility of its reported net interest income" .To adjust unamortized premiums,unaccreted discounts based upon actual principal prepayments after amortizing premiums,accrete discounts.  Full Article

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Buffett's Berkshire slashes IBM stake, adds to Apple

NEW YORK Warren Buffett's Berkshire Hathaway Inc has sold another large piece of its stake in IBM Corp , backing further away from an investment that the billionaire has admitted was not one of his best.