Bank of America Corp
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Financials : Banks | Large Cap Value
Company 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
$19.77
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
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Day's High
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Day's Low
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Volume
(Light)

Today's volume of 730,953 shares is on pace to be much lighter than BAC's 10-day average volume of 121,756,197 shares.

730,953

Ford's stock drops toward 11-year low after dividend suspended

9:16 am ET March 19, 2020 (MarketWatch)
Print

Shares of Ford Motor Co. (F) fell 7.8% toward an 11-year low in premarket trading Thursday, after the automaker said it was suspending its dividend, in an effort to perserve cash and financial flexibility during the coronavirus health crisis. The company's quarterly dividend was 15 cents a share, which based on Wednesday's closing prices implied a dividend yield of 13.33%, compared with the implied yield on the S&P 500 of 2.54%. Ford announced other measures to combat the effects of the COVID-19 pandemic, including fully drawing on its credit lines, giving it $15.4 billion of additional cash; withdrawing its 2020 financial guidance; and implementing a 3-month payment deferral for eligible new-car buyers in the U.S., plus three more months paid by Ford. "Like we did in the Great Recession, Ford is managing through the coronavirus crisis in a way that safeguards our business, our workforce, our customers and our dealers during this vital period," said Chief Executive Jim Hackett. Kudos to Benchmark analyst Michael Ward, who wrote in a note to distributed to clients earlier that he expected Ford to suspend its dividend. Ford's stock has tumbled 52.2% over the past three months through Wednesday, while the S&P 500 has declined 25.2%.

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

(END) Dow Jones Newswires

March 19, 2020 09:16 ET (13:16 GMT)

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