About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Bank of America (BAC) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.79 per share when it actually produced earnings of $0.83, delivering a surprise of 5.06%.Over the last four quar ...

Bank of America (BAC) reported third-quarter results above analysts' estimates Tuesday morning, as revenue rose year-over-year and profit fell by a smaller amount than expected. The company reported $25.34 billion in revenue, above last year's $25.17 billion and the $25.28 billion consensus projection of analysts compiled by Visible Alpha. The key banking metric of net interest income (NII) came in at $13.97 billion, down from $14.38 billion a year ago but better than the $13.85 billion expectation. Bank o ...

Supplemental Information Third Quarter 2024 Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the ...

CHARLOTTE, N.C., Oct. 15, 2024 /PRNewswire/ -- Bank of America reported its third quarter 2024 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings.Investor Conference Call informationChief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in an investor conference call at 8:30 a.m. ET tod ...

Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Bank of America is scheduled to report third-quarter earnings before the opening bell Tuesday. Here's what Wall Street expects: Earnings: 77 cents a share, according to LSEG Revenue: $25.3 billion, according to LSEG Net Interest Income: $14.06 billion, FTE basis, according to StreetAcco ...

Bank of America has merged its FinTech and technology investment banking teams.The 50 bankers in its FinTech team will join the 200 in its tech group, reflecting the growing similarities between the two industries, Bloomberg reported Monday (Oct. 14).“FinTech payments and software are bound to intersect,” Kevin Brunner, chairman of global M&A and global head of technology, media and telecom investment banking at Bank of America, said in the report.This change comes after Brunner’s appointment this summer to ...

Warren Buffett may be saying goodbye to a chunk of his Bank of America Corp BAC shares, but the charts signal a strong outlook for the stock. With the stock up 23.75% year-to-date and a solid 55.43% over the past year, BAC stock is still riding a bullish wave, even as Buffett's Berkshire Hathaway Inc BRK BRK quietly steps back.Buffett's Selloff: Timing Or Trend?In a move that has raised some eyebrows, Buffett's Berkshire Hathaway sold off 9.5 million shares of Bank of America over just three days last week ...

After spending most of September and early October increasing his cash pile – primarily by selling hundreds of millions of Bank of America (NYSE: BAC) shares – Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A, BRK.B) finally reported a major stock purchase.Specifically, ‘The Oracle of Omaha’ filed a series of buys of Sirius XM Holdings Inc (NASDAQ: SIRI) on October 10 and 11. The billionaire spent approximately $87 million buying about 3.6 million SIRI shares. The average purchase price hovered at roughly $ ...

Core Insights - Warren Buffett sold an additional $382.4 million in Bank of America (BAC) stock, totaling 9.54 million shares sold in recent transactions [1][2] - This sell-off follows a previous transaction on October 3, where Buffett sold $337.9 million in BAC stock [3] - Berkshire Hathaway now owns less than 10% of BAC, allowing for more flexible trading without the need for immediate Form 4 disclosures [4] Company Performance - Despite Buffett's sell-off, BAC stock price is currently $41.93, having increased by 7.50% over the last 30 days, with year-to-date returns at 23.70% [6] - Analysts remain cautiously optimistic about BAC, with 12 out of 20 rating it a 'Strong Buy' and an average price target of $45.82, indicating a potential 9.45% increase [7] Industry Context - Buffett's reduction in BAC holdings is part of a broader trend of exiting bank investments, which includes previous stakes in Goldman Sachs, JPMorgan, Wells Fargo, U.S. Bancorp, and BNY Mellon [5] - The banking sector faces challenges from fintech competition and uncertainty regarding Federal Reserve policies and interest rates [5][8]