Low interest rates plague Bank of America, Wells Fargo earnings

This downgrading of profit forecasts comes just as Bank of America (NYSE:BAC) prepares to release its second-quarter earnings report. financial picks, Wells Fargo (NYSE:WFC) could benefit from a.

However, there are also reasons why Bank of America trades at this valuation. It has the lowest ROE of the four major U.S. banks, the banking environment remains challenging given current low interest.

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The bank has forecast that the earnings impact of the asset cap is expected to be less than US$100mm, but we still expect that the bank’s growth in net interest income will underperform its peers in.

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Bank of America’s interest rate is higher by a smidge than Wells Fargo’s, but it’s still extremely low compared to other banks, which offer rates well over 1%. Both banks offer savings programs.

Zombie foreclosures down 43% in third quarter from last year Precisely 20,050 residential properties in the foreclosure process were vacant "zombie" homes as of the end of the third quarter of 2015, down 27% from the previous quarter and down 43% from a.

Friday marks the start of the fourth-quarter earnings season for the financial sector, with Wells Fargo, Bank of America and JPMorgan Chase.

Source: Shutterstock The most obvious group of stocks to buy as interest rates rise are bank stocks. This includes names like jpmorgan chase (nyse:jpm), Bank of America (NYSE:BAC), Citigroup (NYSE:C),

Wells Fargo & Co. is already feeling the sting of falling rates.. Bank's net interest income drops to lowest in three years. Still, mortgage-banking income at the biggest U.S. home lender came in at $758 million, the worst.

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Lower taxes helped smooth over some rough spots.. Wells Fargo's tax rate for the quarter was just over 17 percent, and Bank of America's.

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So investors will be watching closely when Citigroup kicks of the banks’ earnings season on Monday, followed by JPMorgan Chase, Goldman Sachs and Wells Fargo on a hectic Tuesday morning, with Bank of.

Low interest rates continue to drag on earnings.. such as J.P. Morgan and Wells Fargo, once Bank of America works through the last stages of.

With the recent drop in interest rates, as the nation’s No.1 mortgage originator, Wells Fargo should be the. at just under 1.6 times earnings. This is about double the valuation of Citigroup.

Not to say Wells Fargo is low-quality. as interest rates continue to hopefully rise, knock on wood, there is a lot of opportunity for that interest margin to expand further. Frankel: Yeah,