Things looked even worse than they did yesterday when a certain billionaire purchased large stakes in Bank of America and Wells Fargo.
Bank of America investors shouldn't panic, but this number may be unsettling.
Here are the three main ways Brexit will impact bank stocks.
After struggling to pass the stress test in 2014 and 2015, Bank of America emerged from this year's test with capital to spare.
Shares of the nation’s second biggest bank by assets are up in the hours before two catalysts are scheduled to strike.
These catalysts could push Bank of America higher by more than 100% in the coming five years.
Given the abundance of capital on Bank of America’s balance sheet, combined with the fact that it’s coming off its best annual financial performance in nearly a decade, I can’t help but think that Bank of America will get things right this year.
Lower interest rates mean stagnant profits for banks like JPMorgan Chase, Bank of America, and Wells Fargo.
If Bank of America passes this year's stress test, one analyst thinks that its annual dividend payout could increase by 95%.
If the United Kingdom leaves the European Union, Bank of America’s earnings would likely fall over the next two years.