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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Surprise: BofA is Top Pick Among Financials
Last week, shares of Bank of America Corporation rose almost 3% to an eight-year high. The shares currently sell for around $23 – reflecting a gain of more than 40% since the 11/8/16 presidential election.
Yet, despite that meteoric rise in share value, analysts at Wells Fargo Securities just named Bank of America its top pick in the financial services industry for 2017. They think BofA shares still have more room to run. Wells Fargo also boosted the large-cap U.S. bank sector to ‘Overweight’. [What a difference a President-Elect can make!]
Fueling the optimism is …… the potential for corporate tax reform and deregulation to boost earnings for financial firms.
For Q4 of 2016, Bank of America is expected to report EPS of 38 cents on revenue of $21 billion - year-over-year growth of 40% and 7%, respectively.
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