Tomahawk, WI 07/16/2014 (Basicsmedia) – Bank of America Corp (NYSE:BAC) has stepped into the most important phase off late! The bank is deemed to release its holistic Q214 earnings on July 16, Wednesday at 07:00 Hours EST. Analysis from a myriad of quarters reflect that BAC might touch upon the revenue generation of a whopping $21.69 billion.
The second largest bank in the US (in terms of net asset size) is deemed to come up with a positive financial release; investments have shot up by substantial volumes, as the investor fraternities showed keenness towards the glorifying prospects of the BAC.
Analysts at FactSet revealed that BAC is expected to touch upon net quarterly earnings statistics of $3.16 billion—calculated at $0.27/share, reducing YoY from a $3.57 or $0.32 per share. FactSet anticipated that the revenue estimates might reduce from $22.73 billion in Q213 to around $21.65-$21.69 billion in Q214.
Bank of America Corp (NYSE:BAC) has announced a substantial $4 billion capital error pertaining to unprecedented accounting issues. Hence, it was urged to put a hold to its plans of returning sumptuous funds o its shareholders.
South Broadway Branch Closure
BAC has already started its processes of mapping out customer notifications, that sums about the organization’s plans to close down its 100S. Broadway branch located in downtown Wichita – the retail banking outlet of Bank of America Corp (NYSE:BAC) at Broadway and Douglas. BAC spokeswoman, Diane Wagner commented that the banking operations being performed in the Broadway outlet shall be shifted or consolidated to the BAC’s Mid Towne 411 S. Topeka St. branch!
Wagner further added that the South Topeka site must have scope to get duly renovated so as to accommodate additional personnel deployed; however, the plans have not been warranted or finalized. Wagner asserted that this rejig wouldn’t affect any job loss in future!
Bank of America Corp (NYSE:BAC) further conjectured that the branch located inside the BAC building shall also close down owing to space reduction. However, the bank has plans to keep to its Wichita headquarters, monitor and cater to services at the S. Broadway location.