Bank of America Corp News and Headlines -

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In the time since Covid-19 hit the economy and stock market, there have been 3 phases

In the time since Covid-19 hit the economy and stock market, there have been three phases. First, the question was "when" will the economy return to pre-Covid normal? Next came "sooner or later"? Recently, we have moved to "will the economy ever come back?" For long-duration investors like us, what are the investment implications in where we are now in a U.S. stock market with many securities priced for "never"?

When Covid-19 hit in February, centered in the media capital of the universe (New York City), all hell broke loose. The S&P 500 Index fell 36%, the fastest in history,

32 Views    Smead Capital Management    2020-08-04 18:17
The timeless advice by Warren Buffett is often misunderstood by investors

It’s one thing to plan for a market crash but something else to live through a severe market decline and come out stronger than ever.

More often than not, investors lose hope during a bear market to the extent that they may even abandon equity market investments for a long period before getting back to markets exactly at the wrong time. Even though this phenomenon has happened throughout the last century, it seems as if investors are not learning from their mistakes and are hesitant to do the right thing when markets crash.

During these trying times, the best way

375 Views    Dilantha De Silva    2020-07-31 16:24
Largest insider trades of the week

The GuruFocus All-in-One Screener can be used to find insider trades from a specific period of time or for a certain range of values. For these stock picks, I went under the Insiders tab and changed the settings for All Insider Buying to “$2,000,000+,” the duration to “July 2020” and All Insider Sales to “$2,000,000+.”

According to these filters, the following are this past week's most significant trades from company insiders.

Tetraphase Pharmaceuticals

La Jolla Pharmaceutical Co., 10% owner bought 3.73 million shares of Tetraphase Pharmaceuticals Inc. (TTPH) for an average price of $2 per share on July

64 Views    Tiziano Frateschi    2020-07-31 14:09
Warren Buffett boosted his stake, but growth investors need to remain cautious

Warren Buffett (Trades, Portfolio) loves banks. Even during the financial crisis, the guru continued to bet on the success of big banks, as these institutions form the backbone of the American economy.

A decade down the line, Buffett continues to believe in the prospects of the financial services industry as investments, even though interest rates are at a record low of close to zero.

On July 24, Berkshire Hathaway Inc. (BRK.A)(BRK.B) revealed an investment of around $810 million to purchase 33.9 million shares of Bank of America Corp.(BAC), resulting in a boost to the

387 Views    Dilantha De Silva    2020-07-29 15:11
Guru adds an additional 16.42 million shares for a total increase of 7.79% since the first quarter

Warren Buffett (Trades, Portfolio) has revealed an additional 1.67% boost to his holding of Bank of America Corp. (BAC) according to GuruFocus’ Real-Time Picks, a Premium feature.

Buffett follows a value investing strategy that is an adaptation of Benjamin Graham's approach. His investment strategy of discipline, patience and value consistently outperforms the market and his moves are followed by thousands of investors worldwide. He seeks to acquire great companies trading at a discount to their intrinsic value, and to hold them for a long time. He will only invest in businesses that he understands, and

536 Views    Graham Griffin    2020-07-28 19:46
Update from portfolio managers Christopher Davis, Peter J. Sackmann, CFA and Creston A. King III, CFA

Market Perspectives
Opportunities are available at very attractive prices, but selectivity is key.

In the first half of 2020, the S&P 500 Index returned −3.08%. Stocks have been volatile, which is understandable, given the near-term disruption and uncertainties introduced by COVID-19. It remains to be seen how the pandemic might ultimately impact individual businesses, different industries and whole economies. Our view is that opportunities are available at very attractive prices, but it is essential to be selective and, ideally, to apply the margin-of-safety principle in terms of valuation discipline.

We are neither optimists nor are we pessimists. Rather, it

52 Views    Sydnee Gatewood    2020-07-27 20:09
Largest insider trades of the week

The GuruFocus All-in-One Screener can be used to find insider trades from a specific period of time or for a certain range of values. For these stock picks, I went under the Insiders tab and changed the settings for All Insider Buying to “$2,000,000+,” the duration to “July 2020” and All Insider Sales to “$2,000,000+.”

According to these filters, the following were this past week's most significant trades from company insiders.

Bank of America

Berkshire Hathaway Inc., 10% owner of Bank Of America Corp. (BAC), bought 33.9 million shares for an average price of $23.99 per share on

149 Views    Tiziano Frateschi    2020-07-24 15:13
A look at Buffett's latest investment

According to regulatory filings, Warren Buffett (Trades, Portfolio) increased Berkshire Hathaway's (BRK.A)(BRK.B) investment in Bank of America (BAC) earlier this week by $800 million, or approximately 34 million shares.

After this increase, Buffett now owns 11.3% of the bank with a holding worth $24.1 billion.

This is one of the most substantial moves Buffett has made from the start of the Covid-19 crisis (that we know of). It seems to suggest that Buffett has become more open to deploying some of Berkshire's massive cash pile now that we have more information on the pandemic and how

571 Views    Rupert Hargreaves    2020-07-24 13:57
The Oracle of Omaha adds 6.12% to the holding

Warren Buffett (Trades, Portfolio) has revealed a 6.12% addition to his holding of Bank of America (BAC) since the end of the first quarter, according to GuruFocus’ Real-Time Picks, a Premium feature.

Buffett follows a value investing strategy that is an adaptation of Benjamin Graham's approach. His investment strategy of discipline, patience and value has consistently outperformed the market, and his moves are followed by thousands of investors worldwide as a result. He seeks to acquire great companies trading at a discount to their intrinsic value, and to hold them for a long time.

1893 Views    Graham Griffin    2020-07-23 20:07
Their technical prowess is resulting in sizeable moats

Charlie Munger is famous for stressing the role of moats in successful investing. He argues that only strong moats allow a business to earn returns in excess of the cost of capital for substantial periods of time.

The big problem is maintaining a moat. Potential competitors, eyeing those excess returns, will want to enter. What is worse, they will target those aspects of an incumbent’s business that are the most profitable and offer the best opportunities for growth.

Technology serves to exacerbate the difficulty of maintaining a moat. It often allows an entrant

120 Views    Jacob Wolinsky    2020-07-22 14:55
A look at Charlie Munger's investment vehicle

Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway (BRK.A) (BRK.B) gets a lot of attention in the financial press. It is easy to see why - this investment vehicle is a great way to keep an eye on the world's best investor.

The information published publicly about the business and its equity holdings is a high starting point for investors who want to replicate the Oracle of Omaha's investment style. On the other hand, for investors who don't want to replicate his style but want to profit alongside the billionaire, buying the stock is a great way to have

126 Views    Rupert Hargreaves    2020-07-21 19:19
Goldman Sachs and Morgan Stanley posted the best results for the second quarter of 2020

The biggest six U.S. banks, Citigroup (C), JPMorgan (JPM), Wells Fargo (WFC), Goldman Sachs (GS), Bank of America (BAC) and Morgan Stanley (MS), have all reported their second quarter earnings this past week.

Earlier in the week, Jim Cramer suggested the results from these big banks could be one of the biggest sink or swim catalysts for the stock market in the near-term. Across the list, Goldman Sachs and Morgan Stanley posted the best results for the quarter. Here are the highlights:

Goldman Sachs

Goldman Sachs had revenue

334 Views    Julie Young    2020-07-17 12:59
The bank major sets aside lower loan loss reserves than peers

Before the opening bell on July 16, Bank of America Corp. (BAC) reported its earnings results for the second quarter of 2020.

The major U.S. bank topped analyst expectations, but the stock dropped more than 2% after the news that it followed in the footsteps of peers JPMorgan (JPM) and Wells Fargo (WFC) by setting aside additional loan loss reserves in anticipation of a wave of bankruptcies and loan defaults from the economic downturn.

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Overview of the quarter

During the quarter, Bank of America generated net income of $3.5 billion for earnings per share

408 Views    Margaret Moran    2020-07-16 21:41
S&P 500 down -0.4%

The Dow Jones Industrial Average closed at 26,734.71 on Thursday with a loss of 135.39 points or -0.50%. The S&P 500 closed at 3,215.57 for a loss of 10.99 points or -0.34%. The Nasdaq Composite closed at 10,473.83 for a loss of 76.66 points or -0.73% . The VIX Volatility Index was lower at 27.41 for a loss of 0.35 points or -1.26%.

Thursday’s Market Movers

U.S. indexes closed lower Thursday with several headline detractors. Daily Coronavirus cases exceeded 60,000 per day for a second consecutive day. Twitter (TWTR) also reported a hack into several high-profile accounts with links requesting

33 Views    Julie Young    2020-07-16 21:03
Some thoughts on the bank and its most important shareholder.

In February 2020, during an appearance on CNBC, Warren Buffett (Trades, Portfolio) (BRK.A)(BRK.B) discussed his investment in banks, most notably Bank of America (BAC) and Wells Fargo (WFC). For some background, Buffett had increased his investment in Bank of America over the past few years (starting with the 700 million shares acquired via warrants in 2017); on the other hand, he has been paring back his stake in Wells Fargo.

When asked about his activity in Wells Fargo, Buffett said the following:

“It’s absolutely true that we’ve sold down our position. Some of

2077 Views    The Science of Hitting    2020-07-15 16:22
Their share prices are below the projected free cash flow

In order to have a higher chance to come across bargains, investors can screen the market for stocks that are likely trading at discount to their intrinsic value. In this article, I have used the projected free cash flow (FCF) valuation model.

Unlike the discounted cash flow or discounted earnings valuation model, the projected FCF model can apply to companies whose history of revenue and earnings is not consistent. The projected FCF uses normalized free cash flow and book value.

Thus, the investors may want to consider the following stocks, as they are undervalued according to the projected FCF model

159 Views    Alberto Abaterusso    2020-07-13 15:40
Bank of America says companies that score highly on ESG metrics are less risky than their peers

Like many banks and asset managers, Bank of America (BAC) has grown increasingly vocal about the importance of environmental, social and governance factors to investment and asset allocation decisions. Last year, BofA Global Research sought to demonstrate the value of ESG through quantitative analysis. According to its report published in November, ESG investing strategies can deliver superior returns. Yet, as I discussed in Part 1 of this series, the claimed performance advantages are far from certain.

Superior returns were not the only advantage of ESG strategies claimed by BofA, however. The

183 Views    John Engle    2020-07-06 18:25
Bank of America says companies that score high on ESG metrics outperform their peers

A growing number of investors are incorporating environmental, social and governance factors into their investment strategies. Investor demand for ESG has resulted in a rapid proliferation of ESG-focused investment funds and products, as the Financial Times reported in February:

“ESG-focused equity funds have taken in nearly $70bn of assets just over the past year, according to EPFR, while traditional equity funds have suffered almost $200bn of outflows over the same period.”

The latest iteration of “socially responsible” investing, ESG has captured the imaginations of investors and allocators alike, yet many analysts and

221 Views    John Engle    2020-07-05 18:44
Wells Fargo and Citibank are undervalued

Thursday’s job report delivered another surprise to forecasters and economists as figures logged another new unexpected record. Meanwhile, Treasury yields offered solace to the heavily penalized big banks.

The U.S. recorded its biggest job increase ever at 2.5 million gains in the month of May. The resilient labor market then delivered another feat this Thursday morning by adding 4.8 million more jobs in June.

Most of the gains in May were attributed to individuals who had been furloughed due to the coronavirus returning to work as well as the large number of workers who were classified as

243 Views    Mark Yu    2020-07-02 19:34
The bank comes up wanting in the June stress test and must cut its dividend

Well that didn’t last long! On June 18, I wrote about Wells Fargo & Co. (WFC) being “A Sudden Dividend Hotshot."

On June 29 came word that the company would have to cut its dividend after coming up short in the Federal Reserve Board’s most recent stress test. As you may recall, stress tests came out of the carnage in the financial sector during the 2008 financial crisis. The tests are designed to find out how well banks can withstand heightened loan losses.

In a news release dated June 25, the Board wrote, in part:

785 Views    Robert Abbott    2020-06-30 21:44

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