The main driver of the past two weeks remains the growing dollar index, which...
One of the largest players in the US financial and banking market is Bank of America Corporation. The bank operates in all US states, is represented in 35 countries of the world, has a wide range of services and the number of branches and ATMs.
The data for the third quarter, released recently, turned out to be quite good.
Strengths of reporting:
It is worth noting that the bank has worked productively with lending volumes – they have grown – and indicators of net interest margin (+38 bps).
If you look at the sectors, consumer banking has provided great support to business. Revenue here expanded by 12.5% to $9.9 billion. This is due to the confident demand of the population for credit products, as well as the stable position of the business. Against the background of demand for leasing services and interest in lending products in general, global banking grew by 6.6% to $5.6 billion.
Weak spots of reporting:
There is a risk of the stock market falling on a broad front, which could negatively affect the business of Bank of America.
The consensus forecast for Bank of America securities in the future of 9-12 months suggests an increase to $36.
On the daily chart, the MACD indicator has started to grow in the negative zone and forms a buy signal. The Stochastic oscillator rises in the positive zone and confirms the buy signal.