Tuesday, January 11, 2022 14:18:28 UTC
The Federal Reserve's newest bank loan data supports Bank of America Securities' "NII [net interest income] to the sky" slogan for U.S. banks, says Mike Mayo.
Total loan increase in Q4 was 2%, excluding PPP loans, due to consumer, real estate, and better-than-expected core commercial loans, he added.
Banks such as Bank of America (NYSE:BAC), PNC Financial (NYSE:PNC), Truist Financial (NYSE:TFC), and U.S. Bancorp (NYSE:USB), as well as regional banks and others, could benefit from this, the stock analyst noted.
"Conclusion: When profits are published later this week and next week, we expect improved loan growth expectations," Mayo says.(More)
Wednesday, December 29, 2021 13:14:54 UTC
Apple is curtailing services at its New York City stores as the region continues to face a surge in Covid cases. Following the announcement, the stock remained largely unchanged.
Apple said on Monday that all in-person purchases would be discontinued, but the move sparked outrage on social media.(More)
Wednesday, December 29, 2021 13:14:54 UTC
Apple is curtailing services at its New York City stores as the region continues to face a surge in Covid cases. Following the announcement, the stock remained largely unchanged.
Apple said on Monday that all in-person purchases would be discontinued, but the move sparked outrage on social media.
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