Welcome to our dedicated page for Bank of America Corporation news (Ticker: $BAC), a resource for investors and traders seeking the latest updates and insights on Bank of America Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Bank of America Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Bank of America Corporation's position in the market.
Rhea-AI Summary
Bank of America's Q2 2023 Participant Pulse report reveals that average 401(k) balances increased by $7,250 (9.6%) since the end of 2022. The report also shows a 36% increase in the number of participants taking hardship distributions. In addition, the percent of participants borrowing from their workplace plan in Q2 increased to 2.5% from 1.9% in Q1. Health Savings Account balances also saw an 11.9% increase since year-end 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.91%
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Rhea-AI Summary
Bank of America Corporation has announced a corrected dividend amount on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U. The regular quarterly cash dividend is $22.05700 per depositary share and will be payable on September 1, 2023, to shareholders of record as of August 15, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.91%
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Rhea-AI Summary
Bank of America's Stress Capital Buffer will be 2.5% based on the revised 2023 Comprehensive Capital Analysis and Review (CCAR) results. The minimum Common Equity Tier 1 (CET1) ratio requirement will be 9.5% effective October 1, 2023. Bank of America's CET1 ratio was 11.6% with $190 billion of CET1 capital as of June 30, 2023. The company's board of directors declared a quarterly common stock dividend of $0.24 per share, a 9% increase from the previous quarter. Bank of America had $14.1 billion remaining in a $25 billion share repurchase program authorized in October 2021.
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Rhea-AI Sentiment
End-of-Day
-0.16%
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Bank of America's inaugural Mid-Sized Business Owner Report reveals that 75% of mid-sized business owners expect their revenue to increase in the next 12 months, despite economic challenges. Additionally, 71% of business owners plan to hire during this period. The report also highlights the importance of digital strategies, with 90% of businesses investing in digital transformation to optimize their operations. Financing plans include business credit cards, traditional bank loans, personal savings, personal credit cards, and venture capital funding. The report also addresses the impact of labor shortages and the strategies employed by businesses to attract and retain talent.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.81%
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Bank of America has announced a $1M grant to support the development of the National Juneteenth Museum in Fort Worth. The museum aims to educate visitors on the past, create growth in the present, and inspire future generations. It will feature a 50,000-square-foot center with an amphitheater, food hall, and business incubator. The museum's opening date is set for June 19, 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.53%
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.53%
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Rhea-AI Summary
Bank of America: Paid Summer Internships Connects Teens to Career-Building Opportunities. The company announced 15 high school juniors and seniors as Student Leaders, an eight-week paid summer internship providing students with first-hand experience in serving their communities. The students will develop leadership and practical workforce skills while working with local nonprofits, earning $17 per hour. The program aims to address the impact of the COVID-19 pandemic on teen summer employment, providing opportunities for career skills-building and workforce experience.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.53%
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Rhea-AI Summary
Bank of America Corporation has announced an increase in its regular quarterly cash dividend on common stock and preferred stock. The dividend on common stock has been raised by $0.02 to $0.24 per share, while the dividend on preferred stock remains at $1.75 per share. The dividends will be payable in September and October 2023.
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Rhea-AI Sentiment
End-of-Day
0.51%
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Bank of America's Corporate, Global Commercial and Business Banking Services have been recognized by the J.D. Power Certified Customer Service Program for the 14th consecutive year. The certification includes meeting customer satisfaction benchmarks and a detailed evaluation of the bank's customer service operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.7%
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Bank of America reported its second-quarter 2023 financial results. The company serves approximately 68 million consumer and small business clients in the United States. Bank of America stock is listed on the NYSE.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.42%
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Bank of America Corporation
NYSE:BAC
BAC Rankings
BAC Stock Data
288.42B
7.84B
13.18%
58.92%
0.91%
Commercial Banking
Finance and Insurance
United States of America
CHARLOTTE
About BAC
The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded in San Francisco, California.