Bank of America profits drop as key lending revenue weakens [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
Check Earnings Report
US:NYSE Investor Relations:
investor.bankofamerica.com
Company Research
Source: Yahoo! Finance
example of how even the biggest banks are increasingly challenged by high interest rates. Net interest income at Bank of America fell 3% from the year-earlier period "as higher deposit costs more than offset higher asset yields and modest loan growth," the bank said in a release. That measure captures the difference between what a bank earns on its loans and other assets versus what it pays out on deposits. It is a critical contributor to profits for all banks. Three other giant banks — JPMorgan Chase ( JPM ), Wells Fargo ( WFC ), and Citigroup ( C ) — also disclosed challenges with this revenue source as higher-for-longer interest rates from the Federal Reserve continue to pressure lenders to pay more to keep their depositors. Bank of America's stock was flat in pre-market trading. One sign of how higher deposit rates are affecting Bank of America is that its non-interest bearing deposits fell 16% to $520.6 billion. Another is the higher rate it paid on US interest-bearing
Show less
Read more
Impact Snapshot
Event Time:
BAC
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
BAC alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
BAC alerts
High impacting Bank of America Corporation news events
Weekly update
A roundup of the hottest topics
BAC
News
- Japan's currency falls to its weakest since 1990 against the dollar as the yen keeps yelping [Yahoo! Finance]Yahoo! Finance
- Boeing taps debt market to raise $10 billion: sources [Reuters]Reuters
- Federal Reserve Meeting Preview: High Interest Rates 'Need More Time To Work,' Bank of America Says [Yahoo! Finance]Yahoo! Finance
- UPDATE 1-Boeing taps debt market to raise $10 billion: sources [Yahoo! Finance]Yahoo! Finance
- Bank of America nears settlement in class-action case over unexpected customer fees [Yahoo! Finance]Yahoo! Finance
BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- BAC's page on the SEC website