big banks

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and their impact on bank valuations. Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks...

Earlier this month, the Federal Reserve slashed interest rates by 50 basis points at its September Federal Open Market Committee meeting, lowering the federal funds rate in the range of 4.75%-5%. The Fed also hinted at the potential for additional cuts in the coming months, with the updated dot...

Kevin Merritt, the research director at Wedbush Securities, joined Benzinga's PreMarket Prep Wednesday and highlighted the firm's top bank picks, opportunities in beaten-down names and more. Merritt also spoke about the adoption of AI, and which companies will benefit from the technology in the...

The Federal Reserve's decision to reduce interest rates by 50 basis points on Wednesday has set the stage for a notable shift, particularly in the banking sector among mid- and small-cap banks. With rates expected to drop further over the next two years, JPMorgan analyst Steven Alexopoulos believes...

Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) has been steadily trimming its stake in Bank of America Corp (NYSE:BAC), selling off $7.2 billion worth of shares since mid-July. Warren Buffet Has Been Trimming Stake In BAC Following the sale of 5.8 million shares for $228.7 million at...

Deutsche Bank analyst Matt O-Connor revised ratings on JP Morgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC). JP Morgan: The analyst downgraded the rating to Hold from Buy while retaining the price target at $235. The analyst writes...

JPMorgan Chase & Co. (NYSE:JPM) shares are trading higher today. The bank has reportedly started deploying its generative AI tool, informing employees that its proprietary version of OpenAI’s ChatGPT can perform the tasks of a research analyst. The U.S. bank has provided its asset...

Bank of America Corporation (NYSE:BAC) shares are trading higher today after the company authorized share buybacks. The Board authorized a $25 billion stock repurchase program starting August 1, 2024, replacing the existing program set to expire on that date. As of June 30, 2024, the current...

The financial sector looks favorable after a recent earnings report from JPMorgan Chase (NYSE:JPM) and other factors, a market strategist told Benzinga. What Happened: An earnings report from JPMorgan was strong and could lead the financial sector going forward, Freedom Capital Markets Chief Global...

Charles Schwab Corp (NYSE:SCHW) is under pressure Wednesday after the investing giant warned it will need to become smaller in an effort to protect profitability. Analysts are cutting estimates as a result. What To Know: Before the market open on Tuesday, Schwab reported second-quarter revenue of $...

Tuesday, Morgan Stanley (NYSE:MS) reported second-quarter EPS of $1.82, up from $1.24 a year ago and beating the consensus of $1.65. The U.S. bank reported second-quarter sales of $15.02 billion, up 11.6% year over year, beating the consensus of $14.30 billion. The sales were balanced across Wealth...

Bank of America Corp (NYSE:BAC) reported a second-quarter fiscal 2024 net income of $6.9 billion and EPS of $0.83, beating the analyst consensus estimate of $0.80. Revenue, net of interest expense, increased 0.8% year-over-year to $25.54 billion, beating the analyst consensus estimate of...

Bank of America Corp (NYSE:BAC) will be reporting its second-quarter earnings on Tuesday. Wall Street expects 80 cents in EPS and $25.2 billion in revenues as the company reports before market hours. The stock is up 43.07% over the past year, 24.74% YTD. Let’s look at what the charts indicate...

Shares of JPMorgan Chase & Co (NYSE:JPM) recovered in early trading on Monday, after tanking on Friday, following the second-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Oppenheimer analyst Chris Kotowski maintained...

Shares of Wells Fargo & Co (NYSE:WFC) recovered slightly in early trading on Monday, after tanking on Friday, following the second-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Goldman Sachs analyst Richard Ramsden...