This Took Some Bank Investors by Surprise
Coming into earnings season, most analysts and commentators expected banks to benefit from the recent interest-rate increases, as the Federal Reserve has boosted short-term rates three times over the past 12 months. Yet, at least at some of the nation's biggest banks, that wasn't necessarily the case.
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You can see this in the results of JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC). Both banks had solid quarters, but both banks also reported sequential declines in their net interest margins, which measures the yield on their assets after backing out the costs of deposits and other types of debt.
Source: Fool.com
Bank of America Corp. Stock
€38.27
0.220%
Currently there is a rather positive sentiment for Bank of America Corp. with 28 Buy predictions and 5 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 9.76% for Bank of America Corp. compared to the current price of 38.27 €.
