Low interest rates plague Bank of America, Wells Fargo earnings

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

Wells Fargo pinched by low interest rates.. Bank of America, Squeezed by low US interest rates, Wells’ net interest margin fell 0.1 per cent to 3.56 per cent – a bigger decline than.

As third quarter earnings season gets going, the first round of major banks report on Thursday and Friday this week. JPMorgan Chase and Citigroup report earnings before market open on Thursday,

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*Net interest margin computed by dividing net interest income by average interest-earning assets at Bank of America and Wells Fargo of $1.83 trillion and $1.57 trillion, respectively.

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Special Interest Rates are available for accounts with aggregate balances up to $1 million, and require $25,000 deposited to the account from sources outside of Wells Fargo Bank, N.A., or its affiliates. To receive the Bonus APY the account must remain linked to a Portfolio by Wells Fargo relationship.

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Against a consensus per-share profitability target of $1.15, the bank produced an earnings. low-interest rate environment..

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Wells Fargo Bank is a publicly traded bank that operates as a subsidiary of Wells Fargo & Company, one of the largest financial holding companies in the world. The bank is one of the largest in the United States as measured by assets as well as deposits. With tens of millions of customers, thousands.

Wells Fargo is projected to post revenue of $22.304 billion. There are still a lot of factors on the line for Wells Fargo, as FBR Capital Markets & Co. points out.

The article How Much Will Higher Interest Rates Boost Bank of America and Wells Fargo’s Earnings? originally appeared on Fool.com. John Maxfield owns shares of Bank of America. The Motley Fool.

Bank of America’s earnings report mirrors those of its competitors that were reported late last week. Wells Fargo and JPMorgan. rise 7% to $5 billion. Net interest income increased 12%, driven by.

The railroad tumbled 10.27% after it reported quarterly earnings. Wells Fargo have recorded drops in net interest margins,