Banks are the sweet spot of this market that's about to get a lot tougher [CNBC]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: CNBC
Investors are gravitating toward a new favorite part of the stock market, which seems to have just about everything going for it right now: banks. The sector is nipping on the heels of the technology sector, which has been the best performer since the 2016 presidential election, as investors bet that higher rates, lower taxes, deregulation— not to mention a return to market volatility favorable for investment banks — will keep lifting the industry's profits. We've been increasing our weight in financials and banks for several reasons: The banks have repaired their balance sheets; financials are trading at attractive valuations; we still think banks are underowned since the financial crisis, they'll benefit from deregulation; and interest rates are going up, said Ernie Cecilia, CIO at Bryn Mawr Trust. From the 2016 presidential election through Thursday, the S&P 500 technology industry is up 46 percent, but financials are just behind with a 45 percent gain. Intere
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BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 4/24/24 - Form 424B2
- 4/24/24 - Form NPORT-P
- 4/24/24 - Form NPORT-P
- BAC's page on the SEC website