All Posts Tagged With: "Bank of America"

Several big name financial institutions, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) are looking for ways to increase fee income in order to offset expected revenue declines from the financial reform bill. The latest version of the financial reform bill passed on Thursday is expected to pressure revenue in several [...]

Bank of America (NYSE: BAC) announced Wednesday that it has started implementing the principal forgiveness portion of its National Homeownership Retention Program (NHRP).  The initiative offers reduction to a borrowers’ principal if they are considerably underwater on their loan. The plan was officially announced in March, at which time Bank of America said principal reduction [...]

Bank of America (NYSE: BAC) announced yesterday the status of its 10-year $1.5 trillion community development lending program.  The program recently passed the 1- year mark and has thus far provided $168.2 billion in community development lending. The lending initiative is the largest community development goal ever established by a U.S.-based financial institution and aims [...]

Bank of America’s (NYSE: BAC) global wealth unit president Sallie Krawcheck said she has no plans to leave the company and that the pay structure for the bank’s Merrill Lynch financial advisors is not set to changes, according to recent reports. The comments were made in an email by Krawcheck, that was obtained by Bloomberg. [...]

Rochdale Securities analyst Dick Bove has been giving bank stocks a lot of love lately, and among the largest banks, he sees Citigroup (NYSE:C) and Bank of America (NYSE:BAC) exploding by six times what they are today by 2015. In a Tuesday report, Bove said he sees Citigroup increasing in share price of $24.75 by [...]

Goldman Sachs (NYSE:GS) upgraded Citigroup (NYSEC) from “neutral” to “buy,” while maintaining buy ratings on J.P. Morgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC). In light of the current economic conditions, which are deteriorating in Europe and China, it does generate the question of whether the assessment of Goldman is far too optimistic. Much of [...]

The EU sovereign debt issue will remain on the table for some time with major financial institutions like Citigroup (NYSE:C),  Goldman Sachs (NYSE:GS),  Morgan Stanley (NYSE:MS) and Bank of America (NYSE:BAC),  are getting hit hard today, as a number of factors have come together to shake investor confidence in the economy and the banking sector in [...]

Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) are the recipients of Build America Bonds offered by the state of Pennsylvania, generating $1 billion for the commonwealth. The Bank of America part of the bonds are what is called ‘true interest cost,’ which was valued at $548.9 million. JPMorgan Chase received the tax-exempt part of [...]

Brazilian bank Itau Unibanco Holding SA (NYSE:ITUB) had its share price hit hard after Bank of America (NYSE:BAC) announced their selling their entire stake in the financial institution. Bank of America held a 5.36 percent stake in Itau, and the divesting of shares is valued at approximately $4.5 billion. At one point Itau Unibanco had [...]

Billionaire hedge fund manager John Paulson added to his Bank of America (NYSE: BAC) stake in the first quarter, according to a regulatory filing.  His fund, Paulson & Co, added about 16.7 million shares for a total stake of 167.8 million shares. The addition marks about a 10 percent increase in the funds stake of [...]