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4-Traders Homepage  >  Equities  >  Nyse  >  Bank of America Corp    BAC

Delayed Quote. Delayed  - 08/30 08:34:36 pm
16.1 USD   +1.64%
08/29 MARKETS RIGHT N : Banks lead US stocks higher on rate hopes
08/29 BANK OF AMERICA : branch to close in Brigantine
08/29 LARGE CAP MONEY : Bank of America Corporation
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Markets Right Now: Banks lead US stocks higher on rate hopes

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08/29/2016 | 06:08pm CEST

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:05 p.m.

Stocks are closing up on Wall Street Monday, tacking higher after a three-day drop as the financial sector benefited from hopes of higher interest rates.

Wells Fargo, the nation's largest mortgage lender, rose 2.2 percent Monday while JPMorgan Chase rose 1 percent and Bank of America gained 0.3 percent.

Federal Reserve Chair Janet Yellen said in a speech last week that the case for raising rates above their historic lows was strengthening.

Fertilizer company CF Industries gained 4.2 percent after Barron's said it could move higher.

The Dow Jones industrial average rose 107 points, or 0.6 percent, to 18,503.

The Standard & Poor's 500 index climbed 11 points, or 0.5 percent, to 2,180. The Nasdaq composite gained 13 points, or 0.3 percent, to 5,232.

11:45 a.m.

Banks are leading stocks higher at midday as investors hope for higher interest rates.

Wells Fargo, the nation's largest mortgage lender, rose 2 percent Monday while JPMorgan Chase and Bank of America each gained 1 percent.

Investors are hoping banks will be able to raise interest rates on loans before too long. Federal Reserve Chair Janet Yellen said in a speech last week that the case for raising rates above their historic lows was strengthening.

Herbalife rose 2 percent after investor Carl Icahn said he has increased his stake in the company.

The Dow Jones industrial average rose 120 points, or 0.7 percent, to 18,515.

The Standard & Poor's 500 index climbed 12 points, or 0.6 percent, to 2,181. The Nasdaq composite gained 20 points, or 0.4 percent, to 5,239.

9:35 a.m.

Stocks are opening moderately higher on Wall Street as the market comes off three days of losses.

Utilities and materials companies rose the most in early trading Monday.

Herbalife rose 3 percent after the activist investor Carl Icahn, the company's largest shareholder, said late Friday that he has increased his stake.

Energy companies were the one weak spot as the price of oil turned lower.

The Dow Jones industrial average rose 76 points, or 0.4 percent, to 18,472.

The Standard & Poor's 500 index climbed 8 points, or 0.4 percent, to 2,177. The Nasdaq edged up 12 points, or 0.2 percent, to 5,231.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.60 percent.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News

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Financials ($)
Sales 2016 81 707 M
EBIT 2016 26 216 M
Net income 2016 13 741 M
Debt 2016 -
Yield 2016 1,58%
P/E ratio 2016 12,62
P/E ratio 2017 10,31
Capi. / Sales 2016 1,98x
Capi. / Sales 2017 1,89x
Capitalization 161 644 M
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 17,4 $
Spread / Average Target 9,6%
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NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Thomas Kell Montag Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
Frank P. Bramble Independent Director
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