Bank of America has 1,720 fewer branches than in 2008 [CNN]
PayPal Holdings, Inc. (PYPL)
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Source: CNN
Bank of America has 1,720 fewer branches than in 2008 The future of banking is here -- and it's mobile. Bank of America ( BAC ) announced on Monday that deposits made on mobile devices like smartphones and tablets are outpacing those made at branches for the first time. Customers logged into Bank of America's mobile app 1.4 billion times last quarter. The rapid adoption of mobile banking has allowed big banks to massively shrink the number of expensive branches they operate. Bank of America's vast network of branches fell to 4,411 at the end of June, compared with 4,542 a year ago. The company has 1,720 fewer branches than it did in June 2008. That's a 28% drop. At the same time, Bank of America's active mobile banking users jumped by 11% to 25.3 million over the past year. It's not just Millennials turning to their smartphones for banking. "The common theory is that this is all young kids," Bank of America CEO Brian Moynihan told analysts on Monday. "But there's not enough young
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News
- PayPal Holdings, Inc. (NASDAQ: PYPL) had its price target raised by analysts at Sanford C. Bernstein from $66.00 to $68.00. They now have a "market perform" rating on the stock.MarketBeat
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- Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global Team [Yahoo! Finance]Yahoo! Finance
- Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global TeamPR Web
- PayPal Holdings, Inc. (NASDAQ: PYPL) had its price target raised by analysts at JMP Securities from $68.00 to $70.00. They now have a "market outperform" rating on the stock.MarketBeat
PYPL
Earnings
- 2/7/24 - Beat
PYPL
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- PYPL's page on the SEC website