While the EPS came in higher-than-expected, revenue missed expectations
For the quarter ended in December 2020, Bank of America posted
mixed figures.
The bank reported revenues that came in lower than the $20.7
billion forecasted at $20.2 billion. On the other hand, the EPS published was
59 cents, ahead of the 55 cents/ share touted.
At the same time, equities revenue was $1.32 billion,
topping the $1.22 billion estimate.
According to Brian Moynihan, the bank’s CEO, “In the fourth
quarter, we continued to see signs of a recovery, led by increased consumer
spending, stabilizing loan demand by our commercial customers, and strong
markets and investing activity.”
For the future, Bank of America will maintain its quarterly
dividend of 18 cents and will start repurchasing $2.9 billion in shares in Q1
2021.
After the news hit the wires, the bank’s stock price traded
1.2% lower in premarket trading.
Sources: investing.com
This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.
Previous Article
The German ruling party picked its ruler – Armin Laschet
Next Article
Mixed earnings for Netflix