Low interest rates plague Bank of America, Wells Fargo earnings

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Both JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) reported earnings just the day before Bank of America. expected tax rate for the first quarter, which ultimately helped boost.

Net interest income – a main driver of bank profits – came in shy of estimates at $12.1. Wells fargo earnings: .30 per share, vs $1.15 EPS expected. thanks to higher deposit costs and a "lower interest rate environment.. On expenses, " our most recent forecast puts us at the higher end of our range.

Following years of headaches related to its acquisition of much-maligned Countrywide and scaling back mortgage lending, Bank of America leads the way. housing market improvement and low interest.

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Wells Fargo. Bank of America is probably the best positioned in 2019 of all of the major banks. That’s because it had further ground to regain compared to the others. The bank now is leaner and.

He was hoping for interest rates to fall, but, following the bank ‘ s own forecast, they rose in late 1979 and early 1980. The Federal Reserve made the bank ‘ s Eurodollar situation worse by tightening up regulations. Thus, First Chicago found itself funding its Eurodollar placements with higher-cost deposits.

Wells Fargo & Co. and Bank of America Corp. reported earnings Friday that benefited from low unemployment and gradually rising interest rates. But their performance diverged from there, marking the.

According to this article in the New York Times Dealbook, the sustained low interest rate environment is hurting the bottom line at Bank of America and Wells Fargo. Both banks, which recently failed.

As for Wells Fargo. to a multiyear low of $26.35, as a clear sign of global economic weakness and indicates that central bank money printing and negative interest rates are doomed to fail as.

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"We prefer buy-rated Bank of America. on Wells Fargo is $59, 21.9% above the stock’s current level. Here’s the kicker: While valuations are historically low, there’s a strong argument for a.