Bank of America Corp
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Financials : Banks | Large Cap ValueCompany profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Price
Delayed
$29.04
Day's Change
0.13 (0.45%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.15
Day's Low
28.73
Volume
(Light)

Today's volume of 21,507,124 shares is on pace to be much lighter than BAC's 10-day average volume of 49,136,232 shares.

21,507,124

Financial stocks suffer broad selloff, as Bank of America and Warren Buffett's Berkshire Hathaway fall

8:57 am ET August 5, 2019 (MarketWatch)
Print

Financial stocks traded broadly lower Monday, along with the broader stock market (http://www.marketwatch.com/story/dow-futures-down-more-than-300-points-as-us-china-trade-fight-deepens-2019-08-05), as fears of an escalation in the U.S.-China trade war boosted safe-haven Treasurys (http://www.marketwatch.com/story/treasury-yields-slide-as-falling-yuan-sparks-haven-buying-2019-08-05), which sent yields to 2 1/2-year lows. The SPDR Financial Select Sector ETF (XLF) slumped 2.1% in premarket trading to put it on track for a sixth straight loss, which would be the longest losing streak since the 8-day stretch ending Dec. 24. The selloff comes as futures for the S&P 500 fell 1.5%. Among the financial ETF's (XLF) more-active components, shares of Bank of America Corp. (BAC) dropped 2.9%, Citigroup Inc. (C) shed 2.7%, Wells Fargo & Co. (WFC) gave up 1.9% and J.P. Morgan Chase & Co. (JPM) slid 2.3%. Berkshire Hathaway Inc.'s Class B shares (BRKA) fell 1.5% ahead of the open, after Warren Buffett's investment vehicle reported over the weekend a second-quarter profit that missed expectations (http://www.marketwatch.com/story/berkshire-hathaway-post-rising-profit-and-cash-on-unrealized-investment-gains-2019-08-03), according to FactSet. The yield on the 10-year Treasury note declined 7.1 basis points to 1.784%, the lowest yield seen since November 2016. Lower longer-term rates could hurt bank earnings, because it narrows the spread between what banks earn on longer-term assets, such as loans, and what they pay on shorter-term liabilities.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 05, 2019 08:57 ET (12:57 GMT)

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