Friday 20 June 2014

Will 2014 Be the Another Profitable Year for BAC?



Bank of America Corp. (BAC) is based in Charlotte, NC, and was founded in 1904. The company has more than 100 years of business history and since its foundation it has been providing banking as well as non-banking financial products and services through a lot of subsidiaries around the world. Most of the clients of BAC are from United States. The company is currently through 5 segments, which are consumer and business banking, global banking, global wealth and investment management, consumer real estate services, and global marketing.
Bank of America had a profitable year in 2013, as the net income for the company almost tripled last year. Quite recently, the analysts have predicted that the 2014-year will not be the same for the company. BAC stock news coming from different sources is also not giving good estimates about its earnings and dividends per share. The fraudulent activities related to banking happening in Mexico have put BAC business on the back seat. Due to this, the Federal Reserve has denied BAC to rise its dividends form $0.01 to $0.05. This has also made the investors cautious. The BAC stock quote for today also testifies these estimates, as the current stock price lies at $17.15, which has reduced by -0.50%.

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