Bank of America

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#11
Bank of America tops estimates on reserve release, strong advisory and asset management results

Hugh Son
PUBLISHED THU, OCT 14 20216:24 AM EDT

Here are the numbers:

Earnings: 85 cents a share vs the 71 cents a share of analysts surveyed by Refinitiv
Revenue: $22.87 billion vs the $21.8 billion estimate

Here’s what Wall Street expected:

Earnings: 71 cents a share, 39% higher than a year earlier, according to Refinitiv.
Revenue: $21.8 billion, 6.5% higher than a year earlier.
Net Interest Income: $10.6 billion on a reported basis, according to StreetAccount
Trading Revenue: Fixed Income $1.93 billion, Equities $1.45 billion
Investment Banking Revenue: $2 billion

Has loan demand at Bank of America turned the corner?

That’s what analysts are wondering about the second-biggest U.S. lender by assets. Investors want to see loan growth improve from a weak first half of the year because that will help the bank produce more interest income.

Like other lenders, Bank of America set aside billions of dollars for credit losses last year, when the industry anticipated a wave of defaults tied to the coronavirus pandemic. Banks have been releasing some of those funds when the losses didn’t arrive, and analysts will be curious how much of a boost that dynamic will have in the second half of the year.

More details in https://www.cnbc.com/2021/10/14/bank-of-...2021-.html
Specuvestor: Asset - Business - Structure.
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#12
Warren Buffett sells stakes in two banks, raises Bank of America bet
https://finance.yahoo.com/news/warren-bu...57631.html
".... Buffett made it clear at Berkshire's annual shareholders meeting earlier this month that he is still "cautious" about holding many bank stocks. One exception he cited was Bank of America, which remains one of Berkshire’s largest holdings.

In the first quarter, according to filings, Berkshire increased its Bank of America holdings by 2%, despite the value of its total position in the stock falling $4 billion through the quarter.

"I like Bank of America and I like the management," Buffett said at the shareholder gathering in Omaha, Nebraska....."
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