By Fenrigul - 12.02.2020
Bank of america 2020 outlook
A billion people are forecast to be added to the planet's population,1 the majority Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank. September 21, Forecast: Second-Quarter Earnings & Other Headwinds May Test the Markets. July 17 What's Behind the Markets' Optimistic Outlook?
Revenue was lower than expected. Net interest margin was lower than analysts' forecast.
However, both the bank's revenue and net interest margin were lower than expected. Lower interest rates pressured bank of america 2020 outlook interest margin, which was also down YOY.
Shares of the company dropped in premarket trading.
Despite that, CEO Brian Moynihan in mid-July expressed optimism about the future, noting that spending among the bank's customers was picking up. That difference tends to be compressed when interest rates are near or at zero.
Bank of america 2020 outlook Federal Reserve cut its key interest rate back down to zero earlier this year to support the U.
But mounting fears over the economic impact of the pandemic sent its stock plunging along with the rest of the market. Since bottoming out in check this bank of america 2020 outlook latter half of March, the bank has underperformed by a wide margin.
The stock has posted a total return of Source: TradingView. Bank of America's shares initially fell after reporting Q2 earnings in mid-July, despite beating analysts' expectations.
But they then began to trade sideways before experiencing a pullback in mid-September along with the rest of the market. Since then, the bank's shares have begun to rebound again.
Adjusted EPS is expected to decline Revenue is expected to fall 9. Bank of america 2020 outlook precipitous decline is expected to occur even though revenue bank of america 2020 outlook estimated to fall only 5.
That revenue drop, bank of america 2020 outlook, also would be the bank of america 2020 outlook annual decline since
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