Jump to Navigation
Home

Main menu

  • Home
  • Latest Stories
  • Markets Map
  • Trends and Sentiments
  • Leading Topics
  • News Search
  • Comments and Analysis

Secondary menu

  • Latest News
  • Top Rated
  • Most Popular
  • Archive
  • About Us
  • How Should Investors React To FedEx Corporation’s (NYSE:...
  • Currencies: Dollar rises to 3-month high as 10-year yield...
  • Metals Stocks: Gold heads for 3rd straight loss as dollar...
  • Nomura’s Hodges: Fixed income managers have to be flexible
  • One of Sudan's Lost Boys Finds a Way to Help Other...
  • How To Change The World, One Dress At A Time
  • For Trusts And Estates Lawyers Relationship Management Is...
  • Scientists Can Now Bend And Stretch Diamond Like Rubber
  • The Duchess of Cambridge, formerly Kate Middleton, is in...
  • 4 reasons why students might consider apprenticeships...

    Bank Of America Adds Nearly $1 Billion To Its Bottom Line

    Wed, 06/13/2012 - 10:53 EDT - Seeking Alpha
    • BAC
    • Kraken

    By Kraken:Bank of America (BAC) recently announced that it will be reducing its debt by $40 billion. This is part of BofA's strategy to reduce risk and leverage as CEO Brian Moynihan tries to engineer a proper turnaround for the company.Since BofA will be reducing its debt, the interest payments will fall as well. BofA expects that the interest savings will be around $230 million a quarter, which comes out to be $920 million a year. It will plan to reduce debt by buying back Trust Preferred Securities and various forms of subordinated debt.This is a good move by BofA as it will help the company shore up capital as they handle the high level of toxic assets that continue to drag down earnings.Currently, a consensus of analysts believe BofA will earn $1.01 next year. An additional $920 million a year to the bottom line would increase theComplete Story »

    • Original article
    • Login to post comments
     

    Related

    • Bank Of America: The Past And The Future

      By Balanced Investing:The Bank of America Corporation's (BAC) share price has jumped by more than 40% in one year. Credit could be given to CEO Brian Moynihan who has launched a cost-cutting program known as Project New BAC. The initiative will allow BAC to save $8 billion per annum by mid-2015.

    • Bank of America misses on the top line, beats on the bottom (BAC)

      REUTERS/Ruben Sprich

    • Bank of America Corp: Consequences of TruPS Buybacks

      Despite a tightening in monetary policy, life doesn’t seem to get any easier for US banks. The central bank in US recently gave its verdict: asking large-cap banks to raise their capital, which caused Bank of America Corp. (NYSE:BAC) to get into a tussle with the regulator.

    • Why Bank of America Corp (BAC) Looks Forward To December Rate Hike

      As markets turn bullish on the speculation around interest rate hike, banks in the country have gained much attraction. Following the dip in stock prices after the sell-off in markets around the end of August, optimism among investors saw a sharp decline. However, with the recent development around the matter and the strong economic data that supports Federal Reserve’s targets, markets now look forward to a hike in the upcoming meeting in December.

    • Bank of America beats on earnings (BAC)

      Bank of America just reported first quarter earnings that beat on the bottom line and missed on the top line. Adjusted earnings per share were $0.36 on revenue of $21.4 billion. Analysts were expecting earnings per share of $0.29 on revenue of $21.6 billion, according to Bloomberg.

    • BofA expects to save $230 million per quarter on debt

      (Reuters) - Bank of America Corp expects to reduce its long-term debt by about $40 billion in the second quarter, eliminating interest expense of $230 million per quarter going forward, Chief Financial Officer Bruce Thompson said. The bank has previously said it has $34 billion in debt maturing in the quarter. It also has taken steps to redeem subordinated debt, trust preferred securities and other securities. "We will look to drive that debt footprint down," Thompson said Tuesday at an investor conference in New York. Reducing interest payments is one way the second-largest U.S. ...

    • Bank of America's day of reckoning is here (BAC, BLK, JPM, USB, WFC, FNF)

      Bank of America is trying to consolidate its executive leadership — and on Tuesday, shareholders will finally have a say in the matter. Last October, the bank handed chief executive Brian Moynihan the additional title of chairman of the board, undoing a 2009 shareholder vote to split the roles.

    • Bank of America's CEO Discusses Q2 2013 Results - Earnings Call Transcript

      Bank of America (BAC) Q2 2013 Earnings Call July 17, 2013 8:30 a.m. ET Executives Lee McEntire - Investor Relations Brian Moynihan - President and CEO Bruce Thompson - Chief Financial Officer Analysts Betsy Graseck - Morgan Stanley Matt O’Connor - Deutsche Bank John McDonald - Sanford Bernstein Brennan Hawken - UBS Paul Miller - FBR Capital Markets

    • Bank of America's CEO Presents at Sanford C. Bernstein 29th Annual Strategic Decisions Conference (Transcript)

      Bank of America (BAC) Sanford C. Bernstein 29th Annual Strategic Decisions Conference Call May 30, 2013 14:00 pm ET Executives Brian T. Moynihan – Chief Executive Officer Analysts John E. McDonald – Sanford C. Bernstein & Co., LLC Presentation John E. McDonald – Sanford C. Bernstein & Co., LLC

    • Bank of America's CEO Discusses Q1 2013 Results - Earnings Call Transcript

      Bank of America (BAC) Q1 2013 Results Earnings Call April 17, 2013 8:30 a.m. ET Executives Kevin Stitt - Investor Relations Brian Moynihan - President and CEO Bruce Thompson - Chief Financial Officer Analysts Glenn Schorr - Nomura Matt O’Connor - Deutsche Bank Meredith Whitney - Meredith Whitney Advisory Group John McDonald - Sanford Bernstein

    Latest

    One of Sudan's Lost Boys Finds a Way to Help Other Refugees
    One of Sudan's Lost Boys Finds a Way to Help...
    The Duchess of Cambridge, formerly Kate Middleton, is in labour with third child
    The Duchess of Cambridge, formerly Kate Middleton...

    Markets Map

    Markets Map

    Follow Us

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS
    S&P 500: 2579.37 0.16% FTSE: 7487.96 -0.07% Nikk.: 22420.08 1.82% DAX: 13465.51 1.75% HSI: 28594.06 1.22% FX: EUR/GBP: 1.1401 USD/EUR: 1.1618 JPY/USD: 114.1510 Commodities: Gold: 1276.1000

    Bullfax.com - Market News & Analysis 2008-2011
    Contact Us | About Us | Terms & Conditions

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS .

    Secondary menu

    • Latest News
    • Top Rated
    • Most Popular
    • Archive
    • About Us