Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of America Corporation    BAC

BANK OF AMERICA CORPORATION

(BAC)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Bank of America : ends joint venture with Fiserv's First Data

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/29/2019 | 06:31pm EDT
A Bank of America logo is pictured in the Manhattan borough of New York City

(Reuters) - Bank of America Co said on Monday it would end its electronic payment services joint venture with First Data Corp next June, hours after Fiserv Inc completed its acquisition of the payment processor.

The bank said it expects to incur a non-cash, pretax impairment charge of about $1.7 billion to $2.1 billion in the third quarter of 2019 due to the termination of the partnership started in 2009 .

The charge is expected to reduce the second-largest U.S. lender's common equity tier 1 ratio, a key measure of capital against risk-weighted assets, by 9 to 11 basis points.

U.S. financial technology provider Fiserv announced the acquisition of First Data earlier this year, in a $22 billion all-stock deal.

Bank of America said http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-newsArticle&ID=2405030#fbid=tRUHJC6WQK3 on Monday it and First Data had agreed to provide uninterrupted services to clients of Banc of America Merchant Services through at least June 2023.

Fiserv's shares were down 1.5% at $103.10 in extended trading, while that of Bank of America's were broadly unchanged.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 0.19% 28.965 Delayed Quote.17.33%
FISERV INC. 0.53% 106.29 Delayed Quote.43.80%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANK OF AMERICA CORPORATIO
08:27aMARKET SNAPSHOT: 'Something Has To Give:' How Long Can The American Consumer ..
DJ
10/11Tech Up On Trade-Deal Progress -- Tech Roundup
DJ
10/11BANK OF AMERICA : A statement of beneficial ownership of common stock by certain..
PU
10/11BANK OF AMERICA : An amendment to the SC 13G filing
PU
10/11Citigroup names global co-heads for its equity capital markets business
RE
10/11Stocks: Bed Bath & Beyond Shares Rally on CEO Change -- WSJ
DJ
10/10Federal Reserve Gives Large Banks a Break on Postcrisis Rules-- 2nd Update
DJ
10/10Global Exchange Deals Prove Hard to Achieve -- WSJ
DJ
10/09BANK OF AMERICA : Form of prospectus filed in connection with primary offering o..
PU
10/09BANK OF AMERICA : to Report Third-Quarter 2019 Financial Results on October 16
BU
More news
Financials (USD)
Sales 2019 91 586 M
EBIT 2019 36 840 M
Net income 2019 25 105 M
Debt 2019 -
Yield 2019 2,30%
P/E ratio 2019 10,9x
P/E ratio 2020 9,66x
Capi. / Sales2019 2,94x
Capi. / Sales2020 2,95x
Capitalization 269 B
Chart BANK OF AMERICA CORPORATION
Duration : Period :
Bank of America Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF AMERICA CORPORATIO
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 32,65  $
Last Close Price 28,91  $
Spread / Highest target 52,2%
Spread / Average Target 12,9%
Spread / Lowest Target -3,15%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF AMERICA CORPORATION17.33%269 103
JPMORGAN CHASE & CO.16.99%371 301
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-3.59%273 950
WELLS FARGO & COMPANY6.79%216 825
CHINA CONSTRUCTION BANK CORPORATION-4.81%197 642
CITIGROUP INC.34.65%158 360