Bank of America Stock Price, News & Analysis

Bank of America released the 2020 Small Business Owner Report, revealing that U.S. small business owners have shown resilience during the pandemic. The survey, featuring over 1,000 business owners, indicates optimism for recovery with 79% expecting stronger consumer spending. However, confidence in the economy has dropped significantly; only 39% foresee local economic improvement in the next year. Access to capital remains critical, with 42% having applied for loans during the crisis. The bank continues to support small businesses through relief programs and reports $51.3 billion in outstanding small business loans.

Bank of America has launched a new multimillion-dollar initiative in Texas aimed at assisting students of color in completing their education and training. This program, part of a nationwide $25 million effort, includes $1 million each for Dallas College-El Centro Campus and Prairie View A&M University. The initiative seeks to address low graduation rates among Black and Hispanic-Latino students, which stand at 28.8% and 37.1%, respectively. Bank of America has also committed $1 billion over four years to advance racial equality and economic opportunity.

Bank of America has granted $1 million to the 1921 Tulsa Race Massacre Centennial Commission for the "Greenwood Rising" project, a history center dedicated to the famed "Black Wall Street" and the 1921 race massacre. This funding is part of the bank's $1 billion initiative to promote racial equality and economic opportunity in minority communities. The center aims to foster education, entrepreneurial mentorship, and community healing, while also serving as an economic anchor in Tulsa's Historic Greenwood District.

On June 2, Bank of America announced a commitment of $1 billion over four years to promote racial equality and economic opportunity. This initiative includes $50 million earmarked for minority depository institutions (MDIs) and community development financial institutions (CDFIs). The bank has completed 10 equity investments in MDIs, acquiring approximately 4.9% equity in each, enhancing their ability to support community growth through lending and revitalization efforts. Additionally, Bank of America holds a $1.6 billion CDFI portfolio to aid underserved communities.

Bank of America announced a quarterly cash dividend of $0.18 per share on common stock, payable on December 24, 2020, to shareholders of record as of December 4, 2020. A dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B, will be paid on January 25, 2021, to shareholders of record as of January 11, 2021. Bank of America continues to serve approximately 66 million clients, offering a comprehensive range of financial services across the United States and globally.

Bank of America has released its 2020 Human Capital Management Report, showcasing efforts to enhance workplace diversity and employee wellness during the pandemic. The report highlights metrics on diverse representation, with notable increases among women and people of color in various roles. Additionally, it outlines expanded benefits to support employees' health, including mental health resources and childcare assistance, alongside a commitment of $1 billion to advance racial equality over four years.

Bank of America reported its third-quarter 2020 financial results. The release included details on its extensive range of services, highlighting its global presence and client reach. The CEO and CFO will discuss results in a conference call at 8:30 a.m. ET today. Investors may access this call via a given connection or through the company's Investor Relations website. Additionally, replays will be available from October 14 to October 23. Bank of America continues to serve approximately 66 million clients with a robust network of financial centers and digital banking services.

Bank of America Corporation has announced regular cash dividends for its preferred stock series, including Floating Rate Non-Cumulative Series E at $0.25556 per share, payable on November 16, with a record date of October 30. Other series include Series F and G with dividends of $1,011.11111, Series U at $26.00, and several others with varying amounts. These dividends reflect the company's ongoing commitment to returning value to shareholders. Overall, the dividends are scheduled for payment between November 30 and December 28, enhancing liquidity for investors.

Bank of America will announce its third-quarter 2020 financial results on October 14, 2020. Results will be shared around 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET. The news release and investor presentation materials will be available through the Bank of America newsroom and Investor Relations website. Investors can also participate in an investor conference call by dialing in 10 minutes prior to the presentation.