Tag: Bank of America

Capital and Risk, Credit

Bank of America sees booming rescue loan demand, with applications for nearly 10% of program

April 6, 2020


Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank confirmed that it has received applications from 177,000 small […]

Activity, Investment Banking, Trading

Bank of America Has Been Crushed – Here Is the Stock’s Must-Hold Long-Term Support

March 24, 2020

Via: TheStreet

With the federal-funds rate going to near zero, energy stocks collapsing alongside the price of oil, and stock market volatility roaring, the bank stocks have been crushed. Two months ago Citigroup (C) – Get Report, Morgan Stanley (MS) – Get […]


Bank CEOs convene in Washington for meeting with President Trump on coronavirus response

March 11, 2020


The leaders of the biggest U.S. banks are scheduled to meet with President Donald Trump on Wednesday afternoon as the U.S. government grapples with the spread of the coronavirus. CEOs expected to attend the 3 p.m. ET event include Brian […]

Activity, Trading

Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by 4%

March 3, 2020


Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check. Shares of JPMorgan […]

Activity, Investment Banking

Citi, Bank of America, Wells Fargo Down as Bond Yields Tumble

February 24, 2020

Via: TheStreet

Financial stocks were slumping Monday as investors reacted to the spread of the coronavirus, which now has been found in more than two dozen countries. The Financial Sector SPDR Fund (XLF) – Get Report was down 2.6% to $29.97. Treasury […]

Business Banking, Products

BofA integrates digital SMB tool with third-party platforms 

February 14, 2020

Via: Bank Innovation

Bank of America is enhancing the capabilities of its digital cash management tool for small businesses, Business Advantage 360, by integrating with third-party platforms, including QuickBooks, Run Powered by ADP, G Suite by Google Cloud and Google Analytics. “Businesses go […]

Activity, Corporate Banking

BofA Upsizes Griffon Revolver to $400MM

January 31, 2020

Via: ABF Journal

Griffon amended its revolving credit facility, increasing the size from $350 million to $400 million and extending the maturity from March 22, 2021 to March 22, 2025. Bank of America acts as administrative agent under the new credit facility, which […]

Products, Retail Banking

Citigroup unveils free robo-advisor for customers with at least $50,000 at the bank

January 30, 2020


Citigroup is making a push for investors’ dollars with a new digital robo-advisor that’s free for customers with at least $50,000 in deposits or investments at the bank. That’s the threshold needed to qualify for the bank’s Citi Priority bundle […]

Activity, Investment Banking

Bank of America admits ‘rude awakening’ for its bearish Tesla call, but still predicts plunge

January 29, 2020


Tesla bear Bank of America was forced to hike its forecast on the electric carmaker’s stock, after its massive rally has left the bank’s old target in the dust. Analysts at the bank reiterated their underperform rating on Tesla, while […]

Activity, Investment Banking

Bank of America Tops Q4 Earnings Forecast With Solid Loan Growth

January 15, 2020

Via: TheStreet

Bank of America (BAC) – Get Report posted better-than-expected fourth-quarter earnings Wednesday as loan growth offset narrowing interest rate margins at the consumer-focused lender. Shares in the group opened weaker, however, after it cautioned that net interest income would likely […]