Bank of Americaの空売り状況は、投資家がBank of Americaの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

Bank of America (NYSE:BAC) 株価情報, 空売り情報

Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.

Bank of America Corp

BERENSON ACQUISITION CORP I CL A

Berenson Acquisition Corp I Warrants (01/08/2026)

Berenson Acquisition Corp I

BANK OF CHINA LTD ORD by Bank of China, Ltd.

Bank Of China Ltd

BANK OF CHINA UNSP/ADR by Bank of China, Ltd.

IMAC Holdings Inc

Bleichroeder Acquisition Corp. I

Bleichroeder Acquisition Corp I

BANK OF AMERICA 7.00B PFD by Bank of America Corp.

BANK OF AMERICA ORD

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG

Bank of America Corporation Depositary Sh repstg 1/1000th Perp Pfd Ser E

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non- Cumulative Preferred Stock, Series HH

Bank of America Corporation Non Cumulative Perpetual Conv Pfd Ser L

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS

Deep-pocketed investors have adopted a bearish approach towards Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BAC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Bank of America. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 9% leaning bullish and 63% bearish. Among these notable options, 3 are puts, totaling $174,800, and 8 are calls, amounting to $420,064.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $28.0 to $42.0 for Bank of America during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bank of America's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale activity within a strike price range from $28.0 to $42.0 in the last 30 days. 
<h3>Bank of America 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728073895_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$0.45</td>
<td>$0.42</td>
<td>$0.44</td>
<td>$28.00</td>
<td>$110.0K</td>
<td>19.9K</td>
<td>2.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$9.45</td>
<td>$9.35</td>
<td>$9.4</td>
<td>$32.00</td>
<td>$94.0K</td>
<td>15.0K</td>
<td>200</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$9.65</td>
<td>$8.7</td>
<td>$8.95</td>
<td>$32.00</td>
<td>$89.4K</td>
<td>15.0K</td>
<td>0</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$0.4</td>
<td>$0.39</td>
<td>$0.39</td>
<td>$39.50</td>
<td>$55.2K</td>
<td>7.6K</td>
<td>8.3K</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$2.78</td>
<td>$2.63</td>
<td>$2.7</td>
<td>$42.00</td>
<td>$54.0K</td>
<td>17.8K</td>
<td>0</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Having examined the options trading patterns of Bank of America, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Bank of America</h3>
<ul>
<li>Trading volume stands at 33,691,554, with BAC's price up by 2.01%, positioned at $40.04.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 11 days.</li>
</ul>
<h3>What The Experts Say On Bank of America</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $48.0.
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&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Bank of America with a target price of $47. 
&#x2A; Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $49. 
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Options

Markets

Unpacking the Latest Options Trading Trends in Bank of America

JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) is scheduled to kick-start third-quarter 2024 earnings on Oct. 11. The largest American bank&#39;s earnings draw a lot of attention because of its presence in almost all the finance sector businesses. This, thus, offers insight into how the quarterly performance of other banks is likely to be.
JPMorgan&#39;s close peers &ndash; Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) and Citigroup (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) are slated to announce their quarterly numbers on Oct. 15.
JPM&#39;s second-quarter performance was impressive despite industry-wide operating challenges. This time, we believe the company&#39;s performance will likely remain robust. The Zacks Consensus Estimate for third-quarter revenues of $41.01 billion suggests 2.9% year-over-year growth.
On the other hand, rising provisions for credit losses and higher operating expenses are likely to have hampered JPMorgan&#39;s bottom-line growth. In the past seven days, the consensus estimate for earnings for the to-be-reported quarter has been revised marginally lower to $4.04, indicating a 6.7% decline from the prior-year quarter.
Estimate Revision Trend
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/80367.jpg?v=1023181585" />
Image Source: Zacks Investment Research
JPMorgan has an impressive earnings surprise history. The company&#39;s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat being 8.38%.
Earnings Surprise History
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ad/80371.jpg?v=1452486335" />
Image Source: Zacks Investment Research
<h2>Major Factors to Impact JPMorgan&#39;s Q3 Performance</h2>
Net Interest Income: On Sept. 18, the Federal Reserve cut the interest rates by 50 basis points to 4.75-5% for the first time since March 2020. Nonetheless, the development is not expected to have much impact on JPMorgan&#39;s net interest income (NII) during the third quarter.
Further, relatively higher rates might have hurt NII growth prospects because of elevated funding/deposit costs and an inverted yield curve during the major part of the quarter.
Yet, clarity on the Fed&#39;s rate cut path and the stabilizing macroeconomic backdrop are likely to have provided support to the lending scenario. Per the Fed&#39;s latest data, the demand for commercial and industrial, real estate and consumer loans was modest in the first two months of the quarter.
The Zacks Consensus Estimate for NII (reported) of $22.57 billion suggests a slight decline on a year-over-year basis. Our estimate for NII implies a fall of almost 1% to $22.55 billion.
Investment Banking (IB) Fees: Global mergers and acquisitions (M&amp;As) in the third quarter of 2024 showed marked improvement after subdued 2023 and 2022. This is expected to have supported JPMorgan&#39;s IB fees.
Both deal value and volume were decent during the quarter, driven by solid financial performance, higher chances of a soft landing of the U.S. economy, buoyant markets and interest rate cuts. Yet, tough scrutiny by antitrust regulators and lingering geopolitical issues were headwinds. JPMorgan&#39;s leadership in the space is likely to have offered some support to advisory fees.
On the other hand, the IPO market saw signs of cautious optimism, given the market volatility, geopolitical challenges and global monetary easing. The impressive equity market performance drove some solid activity in follow-up equity issuances. Further, bond issuance volume improved on favorable economic conditions and corporate spreads at near historical lows. Thus, growth in JPM&#39;s underwriting fees (accounting for almost 60% of total IB fees) is expected to have been solid during the to-be-reported quarter.
We project IB revenues (in the Corporate &amp; Investment Banking segment) to be $2.39 billion.
Management expects IB revenues to increase 15% on a year-over-year basis driven by robust debt and equity capital markets, while M&amp;A volumes are expected to be &quot;flattish.&quot;
Markets Revenues: Client activity and market volatility were decent in the third quarter. The likelihood of a soft landing of the U.S. economy, cooling inflation and easing monetary policy drove the client activity. So, JPMorgan is likely to have recorded decent growth in markets revenues (comprising nearly 20% of the company&#39;s total revenues) this time.
Our estimates for equity markets revenues and fixed-income markets revenues stand at $2.26 billion and $5.03 billion, respectively.
Management expects markets revenues to be flat or rise almost 2% given the &quot;very, very strong performance in equities across the franchise&quot; partially offset by &quot;a bit weaker&quot; fixed income performance.
Mortgage Banking Fees: As the central bank lowered the rates, mortgage rates started to come down. The rates declined to almost 6.2% by the end of the third quarter. This resulted in a significant surge in refinancing activities while origination volumes remained subdued. Thus, mortgage banking fees are likely to have witnessed some improvement at JPMorgan, while a record last year&#39;s performance is expected to make comparison challenging.
The consensus estimate for mortgage fees and related income of $322.7 million implies a 22% decrease from the prior-year quarter. Our estimate for the metric stands at $337.6 million.
Expenses: JPMorgan&#39;s plan of entering new markets by opening branches, which is already on track, along with inorganic expansion efforts, is likely to have resulted in an increase in operating expenses in the third quarter. Also, investments in technology to strengthen digital offerings might have led to higher costs.
Our estimate for non-interest expenses stands at $22.83 billion, implying an increase of 4.9% on a year-over-year basis.
Asset Quality: JPMorgan is likely to have set aside a huge amount of money for potential delinquent loans (mainly commercial loan defaults), given the expectations of an economic slowdown. Our estimate for provision for credit losses is pegged at $2.44 billion.
The Zacks Consensus Estimate for non-performing loans (NPLs) of $7.96 billion implies a 5.9% increase year over year. The consensus estimate for non-performing assets (NPAs) of $8.69 billion suggests a 6.8% rise. Our estimates for NPAs and NPLs are pegged at $8.29 billion and $7.66 billion, respectively.
<h2>What Our Model Unveils for JPMorgan</h2>
Per our proven model, the chances of JPMorgan beating estimates this time are low. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you can see below.
JPMorgan has an Earnings ESP of -0.25%.
JPM carries a Zacks Rank #3 at present.
<h2>JPM&#39;s Price Performance &amp; Premium Valuation</h2>
JPMorgan was among the top five performing banks on the S&amp;P 500 Index in the first nine months of 2024. The stock outperformed the industry and the S&amp;P 500 Index. Additionally, shares of JPM are trading well above its close peers &ndash; BAC and C.
Price Performance
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f2/80366.jpg?v=5622644" />
Image Source: Zacks Investment Research
JPM stock is not so cheap, as the Value Score of F suggests a stretched valuation at this moment. 
In terms of the forward 12-month Price/Earnings, JPM is trading at 12.25X, higher than the industry&#39;s 11.28X.
Price-to-Earnings (forward 12 Months)
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/55/80369.jpg?v=138088704" />
Image Source: Zacks Investment Research
<h2>How to Play JPM Stock Now?</h2>
JPMorgan is well-poised to benefit from its scale and size, and leverage its leading position in several businesses. The acquisition of First Republic Bank last year continues to support its financials.
JPMorgan is expanding its footprint in new regions and plans to capitalize on cross-selling opportunities. While such expansion plans will lead to higher investment-related expenses, they bode well for the company&#39;s long-term prospects and will provide it an edge over its peers.
During the third quarter, JPM increased its quarterly dividend for the second time this year as it cleared the 2024 stress test. The company also authorized a new share repurchase program.
Yet, the volatile nature of the capital markets business will likely keep JPM&#39;s fee income growth challenging. The stock&#39;s high valuation and bearish analyst stance as the company warned of lower NII next year because of rate cuts weigh on it.
Investors must check out management comments regarding next year&#39;s NII prospects on the third-quarter 2024 conference call before making any investment decision. So, they should consider these factors carefully and evaluate their risk tolerance before buying JPM stock. Those who already own the stock can hold on to it because it is less likely to disappoint over the long term.
<a href="https://www.zacks.com/stock/news/2346143/should-jpmorgan-stock-be-part-of-your-portfolio-ahead-of-q3-earnings?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2346143">To read this article on Zacks.com click here.</a>

Earnings

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News

Dividends

Management

IPOs

Federal Reserve

Analyst Ratings

Trading Ideas

Should JPMorgan Stock be Part of Your Portfolio Ahead of Q3 Earnings?

A hotter-than-expected jobs report spurred a premarket rally on Wall Street Friday, showcasing the U.S. economy&#8217;s resilience and easing concerns <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f">over an economic slowdown. </a>
The strong labor data also led traders to rethink the Federal Reserve&#8217;s aggressive rate cuts, resulting in a jump in the dollar and Treasury yields.
What Happened: The U.S. economy added 254,000 jobs in September, far exceeding the expected 140,000. This marks an acceleration from August&#8217;s 159,000 figure and well above the 12-month average of 230,000. Payrolls for both July and August were upwardly revised by 55,000 and 17,000, respectively.
Private sector payrolls accounted for 223,000 jobs, while the government added 31,000. The unemployment rate fell unexpectedly by 0.1% to 4.1%, beating the forecasted 4.2%.
Wages grew by 0.4% in September, surpassing the expected 0.3%. 
Why It Matters: The stronger-than-expected pace of job addition, coupled with a surprisingly lower unemployment rate and higher wage growth, signals a strong consumer spending outlook, which could lift corporate earnings, particularly as we head into the fourth quarter.
Yet the labor market&#8217;s strength also complicates the Federal Reserve&#8217;s efforts to curb inflation. Higher wages could stoke consumer demand, putting upward pressure on prices, potentially slowing disinflation efforts. This may lead the Fed to delay or scale back anticipated interest rate cuts.
Before the jobs report, the market had priced in a 30% chance of a 50-basis-point rate cut in November, according to the CME FedWatch Tool. Following the data release, those odds plummeted to 11%. 
<h3 class="wp-block-heading">Market Reactions:</h3>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) jumped 0.9% in premarket trading, edging closer to its recent record highs.</li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks major tech stocks, rallied 1.4%, driven by strong gains in the semiconductor sector. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) surged 2.1%.</li>
<li>Blue chips rose as well, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) up by 0.7%.</li>
<li>Small caps outperformed large caps. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.7%. </li>
<li>Yields on the 10-year Treasury bond soared by 11 basis points to 3.96%. Yields on the policy-sensitive two-year note spiked by 15 basis points to 3.87%.</li>
<li>The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) tumbled 1.2%. </li>
<li>The U.S. Dollar Index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Top Gainers Post-Jobs Report:</h3>
Using the Movers function on <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">Benzinga Pro</a>, here are the top performers among U.S. mega-cap stocks in the 30 minutes following the release of the September jobs data.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company Name</th>
<th>Price</th>
<th>Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</td>
<td>$799.25</td>
<td>+3.18%</td>
</tr>
<tr>
<td>Mitsubishi UFJ Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>)</td>
<td>$10.18</td>
<td>+3.18%</td>
</tr>
<tr>
<td>Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)</td>
<td>$205.53</td>
<td>+2.10%</td>
</tr>
<tr>
<td>Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</td>
<td>$83.60</td>
<td>+2.08%</td>
</tr>
<tr>
<td>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</td>
<td>$166.90</td>
<td>+1.92%</td>
</tr>
<tr>
<td>ARM Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</td>
<td>$142.44</td>
<td>+1.91%</td>
</tr>
<tr>
<td>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>)</td>
<td>$80.02</td>
<td>+1.67%</td>
</tr>
<tr>
<td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td>
<td>$175.66</td>
<td>+1.66%</td>
</tr>
<tr>
<td>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)</td>
<td>$510.58</td>
<td>+1.59%</td>
</tr>
<tr>
<td>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>$39.96</td>
<td>+1.56%</td>
</tr>
<tr>
<td>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</td>
<td>$204.82</td>
<td>+1.56%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41182466/spirit-airlines-drops-over-40-amid-bankruptcy-discussions">Spirit Airlines Drops Over 40% Amid Bankruptcy Discussions</a></li>
</ul>
Photo via Shutterstock.

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Economics

Movers

ETFs

ADBE

AMAT

AVGO

SPDR Dow Jones Industrial Average ETF Trust

KLAC

LRCX

MUFG

SHOP

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares Trust Barclays 20+ Year Treasury Bond Fund

PowerShares DB US Dollar Index Bullish Fund

S&P 500 Nears Record Highs On Hot Jobs Data: Dollar, Treasury Yields Surge As Aggressive Interest Rate Cut Hopes Fade

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TIGR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$17.00</td>
<td>$27.5K</td>
<td>0</td>
<td>7.5K</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$150.00</td>
<td>$156.0K</td>
<td>1.3K</td>
<td>5.2K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$22.00</td>
<td>$26.0K</td>
<td>1.9K</td>
<td>1.7K</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$140.00</td>
<td>$270.0K</td>
<td>1.2K</td>
<td>1.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$40.00</td>
<td>$47.2K</td>
<td>5.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>HIG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$120.00</td>
<td>$28.7K</td>
<td>1.0K</td>
<td>391</td>
</tr>
<tr>
<td>MMC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$195.00</td>
<td>$242.1K</td>
<td>87</td>
<td>130</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$15.00</td>
<td>$36.4K</td>
<td>251</td>
<td>50</td>
</tr>
<tr>
<td>NU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.00</td>
<td>$26.5K</td>
<td>4.2K</td>
<td>49</td>
</tr>
<tr>
<td>MA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/04/24</td>
<td>$482.50</td>
<td>$26.6K</td>
<td>10</td>
<td>22</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TIGR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>), we observe a call option sweep with bullish sentiment. It expires in 15 day(s) on October 18, 2024. Parties traded 1100 contract(s) at a $17.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $27.5K, with a price of $25.0 per contract. There were 0 open contracts at this strike prior to today, and today 7509 contract(s) were bought and sold. 
• Regarding FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we observe a call option sweep with bullish sentiment. It expires in 15 day(s) on October 18, 2024. Parties traded 306 contract(s) at a $150.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $156.0K, with a price of $510.0 per contract. There were 1339 open contracts at this strike prior to today, and today 5207 contract(s) were bought and sold. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option sweep that happens to be bullish, expiring in 1 day(s) on October 4, 2024. This event was a transfer of 466 contract(s) at a $22.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $56.0 per contract. There were 1942 open contracts at this strike prior to today, and today 1708 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a put option trade that happens to be bullish, expiring in 43 day(s) on November 15, 2024. This event was a transfer of 900 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $270.0K, with a price of $300.0 per contract. There were 1222 open contracts at this strike prior to today, and today 1500 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option trade that happens to be bullish, expiring in 43 day(s) on November 15, 2024. This event was a transfer of 236 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $47.2K, with a price of $200.0 per contract. There were 5276 open contracts at this strike prior to today, and today 1123 contract(s) were bought and sold. 
• For HIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>), we notice a call option sweep that happens to be neutral, expiring in 15 day(s) on October 18, 2024. This event was a transfer of 379 contract(s) at a $120.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $28.7K, with a price of $77.0 per contract. There were 1094 open contracts at this strike prior to today, and today 391 contract(s) were bought and sold. 
• For MMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), we notice a call option trade that happens to be bullish, expiring in 15 day(s) on October 18, 2024. This event was a transfer of 90 contract(s) at a $195.00 strike. The total cost received by the writing party (or parties) was $242.1K, with a price of $2690.0 per contract. There were 87 open contracts at this strike prior to today, and today 130 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a call option sweep with bullish sentiment. It expires in 834 day(s) on January 15, 2027. Parties traded 50 contract(s) at a $15.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $36.4K, with a price of $730.0 per contract. There were 251 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold. 
• Regarding NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we observe a call option sweep with bullish sentiment. It expires in 470 day(s) on January 16, 2026. Parties traded 39 contract(s) at a $7.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $680.0 per contract. There were 4232 open contracts at this strike prior to today, and today 49 contract(s) were bought and sold. 
• Regarding MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we observe a call option trade with neutral sentiment. It expires in 1 day(s) on October 4, 2024. Parties traded 22 contract(s) at a $482.50 strike. The total cost received by the writing party (or parties) was $26.6K, with a price of $1213.0 per contract. There were 10 open contracts at this strike prior to today, and today 22 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FUTU

HOOD

TIGR

10 Financials Stocks Whale Activity In Today's Session

Legendary investor Warren Buffett-led Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has further reduced its stake in Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), <a href="https://www.benzinga.com/markets/equities/24/09/41017420/warren-buffett-moves-berkshire-hathaway-reduces-bank-of-america-holdings-by-863m">selling shares worth $338 million</a>, as per a recent U.S. Securities and Exchange Commission filing.
What Happened: This marks the 13th round of sales since mid-July, with shares sold at an average price of $39.40, one of the lowest prices received since the selling began. 
Despite these sales, Berkshire Hathaway remains the largest shareholder, holding 10.2% of the bank&#8217;s stock, valued at over $31 billion.
The pace of Berkshire&#8217;s sales has slowed, with recent transactions averaging $338 million, compared to previous rounds of about $750 million. The reasons for the sales remain undisclosed.
See Also: <a href="https://www.benzinga.com/news/24/09/40972893/trumps-mars-landing-promise-gets-slammed-by-peter-schiff-even-as-elon-musk-says-spacex-plans-5-launc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches To Red Planet In 2 Years</a>
Why It Matters: Bank of America CEO Brian Moynihan has praised Buffett as an investor but admitted <a href="https://www.benzinga.com/news/24/09/40805571/bank-of-america-ceo-on-buffetts-share-retreat-i-dont-know-what-exactly-he-is-doing-we-cant-ask">uncertainty about the reasons behind the share reduction</a>, stating, &#8220;I don't know what exactly he is doing because frankly we can't ask.&#8221; 
Buffett&#8217;s recent actions have raised eyebrows, given his reputation for a long-term, <a href="https://www.benzinga.com/startups/24/09/40922382/oracle-of-omaha-sends-a-warning-buffetts-aggressive-bank-of-america-stock-sales-raise-eyebrows">patient investment approach</a>. His decision to sell a significant portion of one of his favorite stocks, Bank of America, has sparked speculation about potential strategic shifts or market concerns.
Price Action: Bank of America Corp&#8217;s stock closed at $39.23 on Wednesday, up 0.025% for the day. Year to date, the stock has surged 15.72%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41084992/nvidia-stock-could-touch-800-by-2030-bgg-executive-predicts-550-upside-driven-by-ai-revolution-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Could Touch $800 By 2030, BGG Executive Predicts 550% Upside Driven By AI Revolution And Web3 Transition</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Warren Buffett-Led Berkshire Hathaway Pares Bank Of America Stake By $338M, Marking 13th Round Of Sales Amid Growing Speculation On Strategic Shifts

Customers of Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) faced a significant disruption on Wednesday as they struggled to access their accounts, with many seeing zero balances. The bank has since addressed the issue, stating it has been largely resolved.
What Happened: The outage began around 12:45 p.m. ET, as reported by Downdetector, a service that monitors online disruptions. Numerous customers expressed their frustration over being unable to view their account balances, with some accounts appearing to have no funds, CNN<a href="https://edition.cnn.com/2024/10/02/business/bank-of-america-outage/index.html"> reported</a> on Wednesday.
Bank of America acknowledged the issue, stating, "some clients are experiencing an issue accessing their accounts and balance information today." The bank assured that efforts are underway to resolve the problems and apologized for any inconvenience caused.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41108682/michael-dell-sells-1-2-billion-worth-of-dell-stock-reducing-stake-amid-companys-recent-s-p-500-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Dell Sells $1.2B Worth Of Dell Stock, Reducing Stake Amid Company&#8217;s Recent S&amp;P 500 Inclusion And  AI Expansion</a>
Despite these assurances, the cause of the outage remains unknown, and it is unclear when all systems will be fully operational. Several CNN employees with accounts at the bank confirmed their inability to access online services during the afternoon.
One customer on Downdetector reported, "Five accounts show zero balance, over 20K." Another mentioned being unable to log in while their spouse could, though her accounts displayed no balance.
Why It Matters: The outage comes at a time when Bank of America is aggressively expanding its <a href="https://www.benzinga.com/markets/equities/24/09/40983831/bank-of-america-ramps-up-expansion-over-165-new-financial-centers-set-to-open-across-63-us-marke">retail banking presence.</a> The bank recently announced plans to open over 165 new financial centers across 63 U.S. markets by 2026, including nearly 40 centers this year. This expansion follows the opening of more than 100 centers in the last two years. 
Such outages are not uncommon in the banking sector. Earlier this year, thousands of HSBC Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>) <a href="https://www.benzinga.com/markets/equities/24/06/39546960/thousands-of-hsbc-britain-customers-left-stranded-by-online-banking-outage-report">customers in Britain</a> faced similar issues. Additionally, a widespread <a href="https://in.benzinga.com/content/39857887/microsoft-service-outage-brings-airlines-banks-to-standstill-in-india">Microsoft service outage</a> in July affected several sectors globally, including banks.
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Fintech news covering the emerging Financial Technology services sector

Fintech

Tech

General

HSBC

Bank Of America Glitch Leaves Customers Seeing $0 In Accounts — What Happened?

Asset Sales

LEVI

Levi Strauss Begins Strategic Review For Dockers Brand, Exploring Potential Sale Or Other Strategic Transactions; Bank Of America Retained As Financial Advisor; No Set Deadline Or Guarantee Of Any Outcome

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DFS</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$130.00</td>
<td>$202.0K</td>
<td>48</td>
<td>3.2K</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$120.00</td>
<td>$51.0K</td>
<td>366</td>
<td>1.9K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$40.00</td>
<td>$35.8K</td>
<td>4.3K</td>
<td>569</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$400.00</td>
<td>$38.5K</td>
<td>1.6K</td>
<td>483</td>
</tr>
<tr>
<td>BEN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$17.50</td>
<td>$29.9K</td>
<td>604</td>
<td>342</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$157.50</td>
<td>$46.9K</td>
<td>203</td>
<td>266</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/17/26</td>
<td>$75.00</td>
<td>$27.9K</td>
<td>5.4K</td>
<td>154</td>
</tr>
<tr>
<td>PYPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$75.00</td>
<td>$49.0K</td>
<td>10.0K</td>
<td>136</td>
</tr>
<tr>
<td>PGR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$230.00</td>
<td>$34.2K</td>
<td>249</td>
<td>112</td>
</tr>
<tr>
<td>SQ</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$67.00</td>
<td>$29.1K</td>
<td>691</td>
<td>81</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding DFS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), we observe a put option trade with neutral sentiment. It expires in 9 day(s) on October 11, 2024. Parties traded 1010 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $202.0K, with a price of $200.0 per contract. There were 48 open contracts at this strike prior to today, and today 3261 contract(s) were bought and sold. 
• Regarding FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we observe a call option sweep with bearish sentiment. It expires in 9 day(s) on October 11, 2024. Parties traded 102 contract(s) at a $120.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $51.0K, with a price of $505.0 per contract. There were 366 open contracts at this strike prior to today, and today 1973 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option sweep that happens to be bearish, expiring in 79 day(s) on December 20, 2024. This event was a transfer of 150 contract(s) at a $40.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $35.8K, with a price of $239.0 per contract. There were 4310 open contracts at this strike prior to today, and today 569 contract(s) were bought and sold. 
• Regarding GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we observe a call option sweep with bullish sentiment. It expires in 79 day(s) on December 20, 2024. Parties traded 4 contract(s) at a $400.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $38.5K, with a price of $9652.0 per contract. There were 1688 open contracts at this strike prior to today, and today 483 contract(s) were bought and sold. 
• For BEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>), we notice a call option sweep that happens to be bearish, expiring in 197 day(s) on April 17, 2025. This event was a transfer of 90 contract(s) at a $17.50 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.9K, with a price of $331.0 per contract. There were 604 open contracts at this strike prior to today, and today 342 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a put option sweep with neutral sentiment. It expires in 9 day(s) on October 11, 2024. Parties traded 127 contract(s) at a $157.50 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $46.9K, with a price of $369.0 per contract. There were 203 open contracts at this strike prior to today, and today 266 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a call option trade with bullish sentiment. It expires in 653 day(s) on July 17, 2026. Parties traded 65 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $27.9K, with a price of $430.0 per contract. There were 5400 open contracts at this strike prior to today, and today 154 contract(s) were bought and sold. 
• For PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we notice a put option sweep that happens to be bullish, expiring in 107 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $75.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $49.0K, with a price of $490.0 per contract. There were 10058 open contracts at this strike prior to today, and today 136 contract(s) were bought and sold. 
• For PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we notice a put option trade that happens to be bullish, expiring in 471 day(s) on January 16, 2026. This event was a transfer of 20 contract(s) at a $230.00 strike. The total cost received by the writing party (or parties) was $34.2K, with a price of $1710.0 per contract. There were 249 open contracts at this strike prior to today, and today 112 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a put option trade with bearish sentiment. It expires in 2 day(s) on October 4, 2024. Parties traded 103 contract(s) at a $67.00 strike. The total cost received by the writing party (or parties) was $29.1K, with a price of $283.0 per contract. There were 691 open contracts at this strike prior to today, and today 81 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COIN

PYPL

Oppenheimer analyst Chris Kotowski maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Outperform and raises the price target from $48 to $49.

Price Target

Oppenheimer Maintains Outperform on Bank of America, Raises Price Target to $49

Earlier this month, the Federal Reserve slashed interest rates by 50 basis points at its September Federal Open Market Committee meeting, lowering the federal funds rate in the range of <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" rel="noreferrer noopener">4.75%-5%</a>.
The Fed also hinted at the potential for additional cuts in the coming months, with the updated dot plot revealing a more aggressive rate-cutting trajectory than <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h" rel="noreferrer noopener">forecasted in June</a>.
Morgan Stanley economists anticipate an additional 150 basis points of rate reductions by mid-2025, with the U.S. economy steering clear of a recession.
Morgan Stanley highlights the banks expected to see the greatest net interest margin (NIM) expansion or compression through the end of 2025, based on the projection that short-term rates will decrease by 200 basis points.
Midcap banks are in a stronger position as they experienced greater pressure on deposit costs (higher deposit betas) when interest rates increased. They anticipate this pressure to ease at a similar pace as rates fall.
Also, midcap banks hold more fixed-rate assets that were issued when rates were much lower in 2021 and 2022, allowing for higher repricing even as rates decrease coupled with lower liquidity requirements.
For midcap banks, the analyst identifies Prosperity Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>), rated Overweight, as offering the best risk-reward profile. The firm is expected to experience one of the largest net interest margin (NIM) expansions through the fourth quarter of 2025, driven by the upward repricing of fixed-rate loans and securities.
Similarly, Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>), newly rated Overweight, is projected to benefit from a significant rise in NIM as deposit costs decline. It has minimal exposure to floating-rate loans and net cash, which tend to weigh on earnings when interest rates drop.
While M&amp;T Bank Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), the analyst&#8217;s top pick, ranks in the middle of the group, Morgan Stanley writes that future rate cuts will slightly boost NIM—a view that contrasts with the broader market consensus, which sees rate cuts as a long-term negative for margins.
Rate cuts are advantageous for the seven major large-cap banks sensitive to liabilities. These money center banks also have significant revenue exposure to capital markets, likely boosting fee income growth in a low-rate, soft-landing scenario.
Morgan Stanley expects this environment to strongly support M&amp;A and Equity Capital Markets (ECM) activity. Additionally, lower rates are generally a credit positive for the banking sector.
For large-cap banks, Morgan Stanley holds an Overweight rating on Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), citing expectations for a rebound in capital markets revenues amid a lower-rate environment and a sharp increase in buybacks following the Basel Endgame reproposal.
Regions Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) and U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) are favored due to their liability sensitivity and commercial and industrial loan growth potential to accelerate post-rate cuts.
Meanwhile, Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is highlighted for its strong excess capital levels and the possibility of progress on lifting its asset cap, which could favorably tilt the risk-reward outlook.
Image via Shutterstock
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</ul>

Analyst Color

CADE

Wells Fargo, Citigroup, Goldman Sachs Poised For Gains Amid Fed Rate Cuts - Morgan Stanley

Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) underwent analysis by 13 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Bank of America, revealing an average target of $44.69, a high estimate of $49.00, and a low estimate of $39.00. Surpassing the previous average price target of $42.27, the current average has increased by 5.73%.
<img src="https://www.benzinga.com/files/images/story/2024/1727715661_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Bank of America's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$47.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Matt O'Connor</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Buy</td>
<td>$45.00</td>
<td>-</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$46.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$46.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$48.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$46.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Kenneth Leon</td>
<td>CFRA</td>
<td>Announces</td>
<td>Sell</td>
<td>$39.00</td>
<td>-</td>
</tr>
<tr>
<td>Scott Siefers</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$42.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$41.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$41.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Bank of America. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Bank of America compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of Bank of America's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BAC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Bank of America analyst ratings.</a>
<h2>Delving into Bank of America's Background</h2>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
<h3>Bank of America's Financial Performance</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Over the 3 months period, Bank of America showcased positive performance, achieving a revenue growth rate of 0.71% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Bank of America's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 25.94%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Bank of America's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.47%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Bank of America's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.2%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Bank of America's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.24.
<h2>The Significance of Analyst Ratings Explained</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Bank of America

Morgan Stanley analyst Betsy Graseck maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Overweight and lowers the price target from $49 to $47.

Morgan Stanley Maintains Overweight on Bank of America, Lowers Price Target to $47

Hurricane Helene and the aftermath of the Category 4 storm have left over 100 people dead, millions without power and destruction not seen in decades in several states since making<a href="https://www.benzinga.com/news/24/09/41073069/hurricane-helene-update-28-dead-power-outages-insurance-damages-and-more"> landfall Thursday night.</a>
What Happened: The hurricane, which shut down airports, roads and bridges, theme parks and sporting contests<a href="https://www.benzinga.com/general/sports/24/09/41053573/hurricane-helene-disrupts-flights-sports-events-disney-operations-affected-regions-stocks-to-watch"> ahead of the storm&#8217;s landfall,</a> further devastated the states in its path after making landfall.
At least 102 people are dead across the states of North Carolina, South Carolina, Georgia, Florida, Tennessee and Virginia, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-helene-florida-north-carolina-georgia-09-30-24/index.html">CNN</a>.
With more than 100 dead, Hurricane Helene now ranks as one of the deadliest hurricanes to hit the U.S. in the last 50 years. Hurricane Katrina had 1,833 fatalities and remains the worst storm in the last 50 years. Helene ranks third behind Katrina and Hurricane Ian, which caused 150 deaths.
Georgia Gov. Brian Kemp said Hurricane Helene "spared no one" when it came to the storm path.
"It looks like a tornado went off, it looks like a bomb went off," Kemp said.
Regions in North Carolina and South Carolina received four to five months worth of rain over a three-day period.
The federal government has declared a public health emergency for Florida, Georgia and North Carolina. Federal disaster declarations have been made for Florida, Georgia, Alabama, North Carolina, Tennessee and Virginia.
President Joe Biden is set to visit some of the impacted areas later this week "as soon as it will not disrupt emergency response operations," the White House said. Former President Donald Trump is set to visit areas impacted by the hurricane on Monday.
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North Carolina Hit Hard: Among the states most affected by Hurricane Helene is North Carolina, with Buncombe County, home of the city of Asheville, accounting for at least 40 of the storm fatalities. 
North Carolina Gov. Roy Cooper called Hurricane Helene "one of the worst storms in modern history."
Over 200 roads are closed in North Carolina as of Monday, with many people still unaccounted for, meaning the fatality count could rise in the coming days.
The hurricane damage in North Carolina could impact several key <a href="https://www.commerce.nc.gov/business/key-industries-north-carolina">industries</a>, with the state&#8217;s plastics/chemical workforce being one of the country&#8217;s largest, as well as North Carolina being a large employer in the automotive sector, the home of several large financial companies, the second largest turbine manufacturer and a key semiconductor manufacturer.
The state is one of the largest textile manufacturers in the country and is the home of Hanesbrands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>).
Fourteen of the Fortune 500 companies call North Carolina home, including Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>).
Lowe's and peer home improvement company Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) are among the companies that could benefit from the restoration efforts in the region and the home repairs and rebuilds needed in the coming months.
Power Outages: Over 4 million homes had no power as of Friday across Florida, Georgia and South Carolina.
As of Monday morning, 2 million homes and businesses remain without power.
Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), which is headquartered in North Carolina, offers utilities to several of the states impacted by the storm. The company <a href="https://www.prnewswire.com/news-releases/duke-energys-hurricane-helene-recovery-restores-power-to-more-than-1-1-million-in-south-and-north-carolina-downed-trees-blocked-roadways-damaged-and-destroyed-power-equipment-impeding-efforts-in-the-sc-upstate-region-and-nc-302261927.html">said </a>it has restored power to more than 1.1 million people in North Carolina and South Carolina with over 900,000 customers still without power as of Sunday night, primarily in the Carolinas. 
Helen&#8217;s aftermath could be a long process for Duke Energy, which is a publicly traded company.
"Based on what we can see on the ground, from helicopter and by drone, there are lots of areas across the South Carolina Upstate and North Carolina mountains where we're going to have to completely rebuild parts of our system, not just repair it," Duke Energy storm director for the Carolinas Jason Hollifield said.
Georgia Power, which is a unit of Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), is another utility company that <a href="https://www.prnewswire.com/news-releases/georgia-power-releases-key-estimated-damage-statistics-from-hurricane-helene-as-restoration-progress-continues-302261899.html">faced </a>heavy power outages. The company said Sunday that it had restored power for around 690,000 customers and around 425,000 are still without power.
The utility company said Hurricane Helene was the "most destructive hurricane" in company history. The company estimates it will have to replace or repair over 5,000 power poles, over 9,000 spans of wire and over 500 transformers.
Generator company Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) could see a lift in the current quarter with heavy purchases likely to have been made ahead of the storm.
Insurance Impact: After the hurricane hit an area of Florida with a lower population than other regions, a report from the Miami Herald said the losses from the storm could be modest for the state's insurance market and smaller than Hurricane Ian (2022) and Hurricane Michael (2018).
Ahead of the storm, a report from reinsurance company Gallagher Re, which is a unit of Arthur J. Gallagher &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>), said private insurers' losses could come in a range of $3 billion to $6 billion across multiple states.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the publicly traded companies that could be impacted by the insurance claims from the hurricane.
 A new report from AccuWeather, <a href="https://www.nbcnews.com/news/weather/live-blog/helene-deadly-storm-live-updates-rcna173203">shared </a>by NBC News, says the total damage from the storm and the economic loss could total a range of $145 billion to $160 billion. The previous AccuWeather estimate was a range of $95 billion to $100 billion.
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</ul>
Photo via Shutterstock.

Insurance

GNRC

Hurricane Helene: 102 Dead, 2 Million Without Power After Storm Destruction In 6 States

Palantir Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) began trading as a member of the S&amp;P 500 index on September 23, 2024. Inclusion in the index was a long-time goal of Palantir. It&#39;s also a significant milestone for retail investors who have largely driven the growth of PLTR stock since it went public via a direct listing in 2020. &nbsp;
Palantir is one of the most discussed, and polarizing, technology stocks in 2024. One reason for that is because PLTR stock is also one of the best-performing stocks in 2024. It&#39;s up 114% as of this writing. &nbsp;
This has many investors who have been on the sidelines wondering if now is a good time to start a position. And if you already have a position, is now a time to &quot;load the boat?&quot; It&#39;s not an easy question to answer, but with so much news circulating around the company, it&#39;s a good time to assess where things stand.&nbsp;
<h2>Institutions Will Buy More PLTR Stock&nbsp;</h2>
One of the most significant benefits of inclusion in the S&amp;P 500 is that institutional investors will have to start buying PLTR stock. To be fair, institutional buying has outpaced selling by an almost three-to-one margin in the last 12 months. However, any index fund manager using the S&amp;P 500 as its benchmark must ensure PLTR stock is one of its holdings. &nbsp;
The PLTR stock chart shows a significant increase in the volume of shares bought on September 23. This is likely the beginning of institutional buying activity. However, it&#39;s important to note that for every buyer, there has to be a seller, so the current buying activity may be more significant for defining a floor for PLTR shares.&nbsp;&nbsp;
<h2>Analysts Are Coming Around on PTLR Stock&nbsp;</h2>
But what about the ceiling? Dan Ives of Wedbush has been one of the most bullish analysts on PLTR over the past year. He currently has a price target of $38 on PLTR, but his bull case upside is $50. &nbsp;
That was the price target that was recently posted by Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>). The bank also placed Palantir on its US-1 list, a compilation of its best investment ideas. &nbsp;
<h2>Two New Contracts Since the S&amp;P 500 Announcement&nbsp;</h2>
One concern about Palantir is that the company&#39;s future growth is already priced in. However, since the S&amp;P 500 announced Palantir&#39;s inclusion, the company has announced two significant contracts: one on the government side and one on the commercial side.&nbsp;
The commercial contract expands its current partnership with Nebraska Medicine, a multimillion-dollar contract paid out over several years. Healthcare is one of the company&#39;s most intriguing verticals because of the possibilities Palantir&#39;s software can provide in increasing the efficiency of this industry. &nbsp;
On the government side, the U.S. Army awarded Palantir with a five-year fixed-price contract of nearly $1 billion ($99.8 million) for user licenses for the Maven Smart System AI tool. That&#39;s $40 million per year over the next five years that will go to Palantir&#39;s topline number. &nbsp;
<h2>Palantir is a Strong Long-Term Buy, But Guard Against FOMO on the Upside&nbsp;</h2>
With the prospect of 35% stock price appreciation in the next 12 months, it may seem like the time to load up on PLTR stock. But you&#39;ll want to beware of FOMO (i.e. fear of missing out). The stock is overvalued by almost every traditional fundamental metric. You may not put much weight on those metrics, but many investors do, which may keep a lid on the stock. &nbsp;
Simply put, Palantir has tremendous upside potential, but that growth may not come in a straight line. Although Palantir seems to make new positive headlines weekly, the next true catalyst will likely be its earnings report on November 7, 2024. That&#39;s two days after the U.S. presidential election, so it could be a volatile time for stocks. &nbsp;
A better strategy right now may be to use a dollar-cost averaging (DCA) strategy and wait for significant pullbacks to increase the amount of your buys. If you&#39;re unfamiliar with the concept of dollar-cost averaging, it simply means putting the same amount of money into a stock at regular intervals. Spreading out your purchases can reduce price risks. &nbsp;
Regarding a stock like Palantir, we look at it as a &quot;trust but verify&quot; strategy. If the stock will pull back, you&#39;ll benefit from that. But if $36 is the new floor, you&#39;ll buy the stock at the new &quot;best price.&quot;&nbsp;
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/palantir-stock-joins-the-s-and-p-500-is-it-time-to-buy/">Palantir Stock Joins the S&amp;P 500; Is It Time to Buy?</a>&quot; first appeared on MarketBeat.

Contracts

PLTR

Palantir Stock Joins the S&P 500; Is It Time to Buy?

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading higher on Thursday. The company launched SafeBalance <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41044248/from-piggy-bank-to-family-banking-bofa-launches-new-solution-to-help-parents-raise-financially-sav" rel="noreferrer noopener">Banking for Family Banking</a>.
This is a new account that equips parents with tools and resources to help their children develop healthy financial habits and manage their money through a secure digital experience.
This solution allows parents to open accounts for their children under 16 and will include additional enhancements next year.
The bank launched Family Banking in Connecticut, Maine, and Rhode Island, with plans for nationwide availability by December.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40902762/bank-of-america-appoints-executives-to-lead-new-venture-report" rel="noreferrer noopener">Bank Of America Appoints Executives To Lead New Venture: Report</a>
Mary Hines Droesch, Head of Product for Consumer, Business and Wealth Management Banking and Lending at Bank of America, said, &#8220;For many parents, it can be hard to find the right financial tools and resources that can also instill positive financial habits in their children.&#8221;&nbsp;
&#8220;Family Banking offers the foundation young people need for managing money, with support for parents seeking to help their children on the path to financial health and independence.&#8221;
This week, Bank of America disclosed that it is on track to launch over 165 new centers in 63 markets by the end of 2026,&nbsp;including <a target="_blank" href="https://www.benzinga.com//node/40983831" rel="noreferrer noopener">nearly 40 centers this year</a>.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: BAC shares are up 0.46% at $39.43 at the last check Thursday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41017420/warren-buffett-moves-berkshire-hathaway-reduces-bank-of-america-holdings-by-863m" target="_blank" rel="noreferrer noopener">Warren Buffett Moves: Berkshire Hathaway Reduces Bank Of America Holdings By $863M</a></li>
</ul>

FTXO

KBWB

Bank Of America's New Banking Account Helps Parents Teach Kids Money Management: Details

Investors with a lot of money to spend have taken a bullish stance on Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $122,070, and 8 are calls, for a total amount of $463,848.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $45.0 for Bank of America during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 4249.89 with a total volume of 10,871.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bank of America's big money trades within a strike price range of $30.0 to $45.0 over the last 30 days.
<h3>Bank of America Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727297122_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$10.45</td>
<td>$10.3</td>
<td>$10.45</td>
<td>$30.00</td>
<td>$169.3K</td>
<td>448</td>
<td>162</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$0.23</td>
<td>$0.22</td>
<td>$0.23</td>
<td>$39.50</td>
<td>$69.0K</td>
<td>5.3K</td>
<td>7.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$0.53</td>
<td>$0.52</td>
<td>$0.53</td>
<td>$39.00</td>
<td>$68.2K</td>
<td>741</td>
<td>1.7K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$2.5</td>
<td>$2.49</td>
<td>$2.49</td>
<td>$40.00</td>
<td>$53.7K</td>
<td>8.7K</td>
<td>75</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$3.9</td>
<td>$3.65</td>
<td>$3.85</td>
<td>$45.00</td>
<td>$46.2K</td>
<td>107</td>
<td>120</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Bank of America</h3>
<ul>
<li>With a trading volume of 28,579,270, the price of BAC is down by -0.53%, reaching $39.24.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 20 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Bank of America</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $45.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Showing optimism, an analyst from Deutsche Bank upgrades its rating to Buy with a revised price target of $45. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Decoding Bank of America's Options Activity: What's the Big Picture?

Sallie Mae Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) stock is trading higher on Wednesday. Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) initiated coverage of the student loan provider with a Buy rating and set a <a href="https://www.benzinga.com/insights/analyst-ratings/24/09/41012042/demystifying-slm-insights-from-7-analyst-reviews">price target of $27</a>.
The Details: Sallie Mae currently holds a 58% market share in private student loans, however, the bank indicates there&#8217;s room for growth, describing the lender as &#8220;poised for market share gains.&#8221;
Bank of America points to growth in college enrollment, increase in the price of college and competitors leaving the student loan market to support its market share growth belief. Specifically, the bank stated that college enrollment is estimated to grow by about 4% by 2027 and the cost of college has increased at a 3% compound annual growth rate since 1993-94.
The bank pointed to the past as evidence of Sallie Mae&#8217;s ability to take advantage of competitors exit from the market. For instance, the lender increased its market share by 60pbs during the 2021-22 school year following Wells Fargo&#8217;s exit.
Also, the bank highlighted the lender&#8217;s focus on high credit-quality consumers. It stated that less than 8% of borrowers at the time of originations had a credit score lower than 670. Next, the note recognized the lender&#8217;s efficient business model.
&#8220;Sallie Mae began a strategy in 2020 in which it seeks to minimize balance sheet growth and accelerate share repurchases by selling student loans at high execution levels due to its strong credit profile. Through the &#8220;loan sale arbitrage&#8221; strategy, SLM has driven attractive returns, while not needing to expand capital levels to sustain its industry leading origination volumes,&#8221; said the bank.
Bank of America also recognized some risks to its thesis including, scrutiny by oversight organizations like the Consumer Financial Protection Bureau and a growing number of students choosing to consolidate or refinance with firms that offer interest rates lower than Sallie Mae&#8217;s.
Related Link: <a href="https://www.benzinga.com/news/24/09/40971831/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-last-month-now-says-elon-musk-remotely-dis?itm_source=parsely-api">Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk &#8216;Remotely Disabled&#8217; The Militarized EV</a>
SLM Price Action: At the time of writing, Sallie Mae shares are trading 1.90% higher at $21.94, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Sallie Mae Stock Wednesday?

Guidance

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UPDATE: BofA CFO Alastair Borthwick Earlier Said "When We Are Looking At The Rate Path, We Tend For Planning Purposes To Use The Forwards... The Research View At Bank Of America, Where People Are Telling Us That The End Place Will End Up Somewhere 2.75% Or 3%, I Think Is The Latest Thinking, Which Would Restore It Would Be Sort Of A More Normal Rate Structure In The U.S."

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