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published in Blogs
Oct 15, 2018

Bank of America (BAC, $28.46) Lags Rivals in Loan Growth, But Registers Solid Profit Increase

Bank of America’s loan growth fell short of some of its competitors, while its advisory fees income declined in the third quarter. However, the bank's Q3 profits soared year-over-year on the back of rapid cost reductions.

Bank of America's total loan book grew 0.3 % in Q3 2018, compared to the year-ago period. This was lower than that of  JPMorgan Chase & Co.'s  6% and Citigroup Inc.’s 4%.

Bank of America's fees earned from advisory services on mergers declined 26% in the quarter. Revenues from sales and trading fell 5 percent. According to a Reuters report, Chief Financial Officer Paul Donofrio said in a conference call with reporters that Bank of America is working to improve its M&A business after losing market share. 

In spite of its headwinds, the bank managed to generate solidly positive year-over-year growth in profits -  thanks to its cost cutting strategies. By reducing employee headcount, closing unprofitable branches and obliterating old technology systems, the bank has saved billions of dollars in annual costs. The bank’s Q3 profit surged +34% to $6.7 billion from $5 billion a year earlier.

 

 

 

Related Ticker: BAC

BAC in +2.58% Uptrend, advancing for three consecutive days on March 27, 2024

Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where BAC advanced for three days, in of 320 cases, the price rose further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Aroon Indicator entered an Uptrend today. In of 260 cases where BAC Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BAC declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BAC broke above its upper Bollinger Band on March 20, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. BAC’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 60, placing this stock slightly better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.133) is normal, around the industry mean (0.965). P/E Ratio (12.276) is within average values for comparable stocks, (8.991). BAC's Projected Growth (PEG Ratio) (8.977) is slightly higher than the industry average of (2.510). BAC has a moderately low Dividend Yield (0.025) as compared to the industry average of (0.053). P/S Ratio (3.099) is also within normal values, averaging (2.514).

Notable companies

The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).

Industry description

Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.

Market Cap

The average market capitalization across the Major Banks Industry is 89.01B. The market cap for tickers in the group ranges from 191.41M to 574.69B. JPM holds the highest valuation in this group at 574.69B. The lowest valued company is MSL at 191.41M.

High and low price notable news

The average weekly price growth across all stocks in the Major Banks Industry was 1%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 22%. SCBFF experienced the highest price growth at 9%, while FANDY experienced the biggest fall at -12%.

Volume

The average weekly volume growth across all stocks in the Major Banks Industry was -13%. For the same stocks of the Industry, the average monthly volume growth was 7% and the average quarterly volume growth was -3%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 60
Price Growth Rating: 45
SMR Rating: 10
Profit Risk Rating: 59
Seasonality Score: -16 (-100 ... +100)
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published General Information

General Information

a major bank

Industry MajorBanks

Profile
Fundamentals
Details
Industry
Major Banks
Address
100 North Tryon Street
Phone
+1 704 386-5681
Employees
213000
Web
https://www.bankofamerica.com
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