Bank of America Corp (NYSE:BAC) – Bank stocks have climbed
Bank of America Corp (NYSE:BAC) traded 93,172,179 shares on last trading session with closing price of $23.89.
BAC was trading -7.40% below its 52-week high and 100.53% above its 52-week low. Its last 5-Year EPS growth stands at 182.40%; with earnings growth of 42.50% yoy. The stock stands -0.42% below the average-price of 50 days and 3.09% compared with the SMA 20.
Bloomberg – For regional banks across the U.S., the “Trump bump” hasn’t yet translated into business.
Bank stocks have climbed since Donald Trump was elected president as investors bet his pro-growth agenda and rising interest rates would help lenders generate huge profits. But this month, executives at some of the country’s largest regional banks said customers, especially corporations and small businesses, are instead waiting for details on the new administration’s proposals and results before seeking financing for expansion.
Total loans at the 15 largest U.S. regional banks declined by about $10 billion to $1.73 trillion in the first quarter, compared with the previous three-month period, the first such drop in four years, according to data compiled by Bloomberg. All but two of those banks missed analysts’ estimates for total loans, as a slump in commercial and industrial lending sapped growth.
“The optimism and the willingness is there, but it has not yet translated into actions or behaviors,” Beth Mooney, chief executive officer of KeyCorp, said of the Cleveland-based bank’s small and middle-market business clients. “We did not see ‘flip the switch’ sort of behavior that led to loan demand or making different capital decisions or investment decisions.” Source: Bloomberg
The stock has a 1-year performance up 60.67% and a positive weekly performance at 5.06%. Moreover, the stock is up 3.73% in one month through last close, to $23.89, showing a 2.54% return during the past three months. The company is set at a mean analysts’ recommendation of 2.10.
BAC has been paying dividends since 1903 and has raised their dividend for 3 consecutive years. It has a dividend yield of 1.30% and a 5 year dividend growth rate of 72.50%. Their payout ratio is 22.00%.