$BAC (Bank of America Corporation)

$BAC {{ '2016-04-14T13:33:14+0000' | timeago}} • Webcast

Matt O'Connor of Deutsche Bank asks about any outlook for the potential for additional reserve related to energy. $BAC CEO Brian Moynihan said that in terms of reserve builds, the company believes it has the right reserves for its portfolio. On reserve leases, $BAC expects re-leases in consumer, but at a slower pace than seen in the past.

$BAC {{ '2017-10-13T19:10:55+0000' | timeago}} • Webcast

$BAC said it did not see a spike in loan defaults in 3Q17, unlike rivals such as $JPM and $C. However, the Charlotte, North Carolina- based company said it increased its provision for loan losses in the consumer banking segment by $269MM, keeping in mind the impact of hurricanes during the quarter.

$BAC {{ '2017-10-13T18:32:39+0000' | timeago}} • Webcast

Responding to a question whether $BAC would be able to hold the reins on costs in its Global Wealth and Investment Management business, the company said higher expenses are always attached to wealth management fee generation. In 3Q17, efficiency ratio for Wealth Management unit stood at 73%, much higher than Commercial Banking and Consumer units.

$BAC {{ '2017-10-13T18:07:59+0000' | timeago}} • Webcast

As part of its cost-cutting initiative, $BAC said it reduced workforce by 0.5% or 1,065 workers in 3Q17. The banking behemoth has cut over 80,000 jobs since CEO Brian Moynihan announced the initiative in 2011. Bank of America said it doesn't expect to see any more huge job cuts in the near future.

$BAC {{ '2017-10-13T13:15:17+0000' | timeago}} • Infographic

$BAC Bank of America Earnings AlphaGraphic: Q3 2017 Highlights

$BAC {{ '2017-10-13T12:14:49+0000' | timeago}} • Announcement

In 3Q17, $BAC witnessed revenue growth in three of its four segments. Revenue from its largest segment, Consumer Banking, increased 10%, while that from Global Wealth and Investment Management rose 6%. Global Banking segment revenue rose 5%, but revenue from Global Markets fell 11% during the quarter.

$BAC {{ '2017-10-13T12:07:34+0000' | timeago}} • Announcement

$BAC said its loans in 3Q17 totaled $927.1MM, while deposits came in at $1.284 trillion. Meanwhile, driven by higher commercial losses, $BAC's net charge-offs rose by $12Bil YoY to $900MM.

$BAC {{ '2017-10-13T12:02:32+0000' | timeago}} • Announcement

$BAC, the second largest US bank by assets, said sales and trading revenue fell 13% to $3.1Bil in 3Q17 due to unfavorable market conditions and lower volatility in rates products. Fixed-income trading revenue fell 22% to $2.15Bil. Earlier, rivals $C and $JPM had also reported 16% and 27% declines respectively in their fixed-income trading revenues.

$BAC {{ '2017-10-13T11:53:40+0000' | timeago}} • Announcement

In spite of weak bond trading business, $BAC reported 13% jump in net income in 3Q17 to $5.6Bil, or $0.48 per share. Meanwhile, riding on a 9% climb in Net Interest Income during the quarter, the banking giant managed to modestly lift its revenue up 1% to $22.08Bil.

$CGI {{ '2017-10-10T14:21:38+0000' | timeago}} • Announcement

$CGI appointed Kathleen Ross to its BoD. The board has determined that Ross is an independent director under NYSE Rule. Ross retired from $BAC in September 2016, where she served as a SVP in the bank's transportation and logistics group since 2008.

$BAC {{ '2017-10-04T22:35:34+0000' | timeago}} • Announcement

$BAC announced that the 68th US Secretary of State, John F. Kerry, has joined the bank’s Global Advisory Council as Chairman. Secretary Kerry, a former US senator from Massachusetts, is currently Distinguished Fellow for Global Affairs at Yale University and Visiting Distinguished Statesman at the Carnegie Endowment for International Peace.

$BAC {{ '2017-09-20T15:41:19+0000' | timeago}} • Webcast

With customers like $BAC and $T, $ORCL is confident of taking market share across the applications ecosystem. Oracle's app business grew 17% in 1Q18 with large marquee customer wins across Cloud portfolio. Oracle said its app business growth rate in the Cloud is higher than other players and sells double of what $CRM sells in absolute dollars.

$BAC {{ '2017-09-18T14:48:54+0000' | timeago}} • Announcement

$BAC Board has authorized a regular quarterly cash dividend of $0.375 per depositary share on the 6% Non-Cumulative Preferred Stock, Series EE. The dividend is payable on Oct 25, 2017 to shareholders as of Oct 1, 2017.

$BAC {{ '2017-09-18T14:44:34+0000' | timeago}} • Announcement

$BAC authorized a regular quarterly cash dividend of $0.3875 per depositary share on the 6.20% Non-Cumulative Preferred Stock, Series CC. The dividend is payable on Oct 30, 2017 to shareholders as of Oct 1, 2017.

$BAC {{ '2017-09-18T14:42:51+0000' | timeago}} • Announcement

$BAC authorized a regular semi-annual cash dividend of $32.50 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z. The dividend is payable on Oct 23, 2017 to shareholders as of Oct 1, 2017.

$BAC {{ '2017-09-18T14:41:40+0000' | timeago}} • Announcement

$BAC authorized a regular quarterly cash dividend of $0.40625 per depositary share on the 6.50% Non-Cumulative Preferred Stock, Series Y. The dividend is payable on Oct 27, 2017 to shareholders as of Oct 1, 2017.

$BAC {{ '2017-09-18T14:39:22+0000' | timeago}} • Announcement

$BAC authorized a regular quarterly cash dividend of $18.125 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on Oct 30, 2017 to shareholders as of Oct 1, 2017.

$PYPL {{ '2017-07-26T22:38:44+0000' | timeago}} • Announcement

$PYPL announced a partnership with $BAC which will enable Bank of America customers to transact with PayPal in stores and seamlessly link their Bank of America cards into PayPal. Bank of America cards will be tokenized for customers wishing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US.

$BAC {{ '2017-07-26T15:49:41+0000' | timeago}} • Announcement

$BAC declared a regular quarterly cash dividend on its common stock of $0.12 per share, payable Sept 29, to shareholders as of Sept 1. $BAC also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B, which is payable Oct 25 to shareholders as of Oct 11.

$BAC {{ '2017-07-18T18:18:01+0000' | timeago}} • Webcast

$BAC said it does not consider M&A as a capital strategy. It said the company has been grown organically by investing in cash major capabilities and hence, it does not want to be distracted by acquisitions.

$BAC {{ '2017-07-18T17:11:25+0000' | timeago}} • Webcast

$BAC said total loans in 2Q17 were up 2% YoY, adding that sale of UK card lowered average loan by 2.9Bil. Loan growth was reduced by continued run-off consumer real estate loans during the quarter. However, loans in the business segment were up $39Bil or 5%, led by consumer banking. $BAC continues to see good growth in residential mortgages.

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