On Monday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.11% to $18.12, hitting its highest level.
Bank of America Corporation, stated net income of $5.3 billion, or $0.45 per diluted share, for the second quarter of 2015, contrast to $2.3 billion, or $0.19 per share, in the year-ago period. Revenue, net of interest expense, on an FTE basis, rose $385 million, or 2 percent, from the second quarter of 2014 to $22.3 billion.
Net interest income for the most recent quarter comprised of $669 million ($0.04 per share) in positive market-related adjustments, primarily from the company’s debt securities portfolio, due to the impact of higher long-term interest rates. This compares with $175 million in negative market-related adjustments in the year-ago quarter.
Solid core loan growth, higher mortgage originations and the lowest expenses since 2008 contributed to our strongest earnings in several years, as we continued to build broader and deeper relationships with our customers and clients, said Chief Executive Officer Brian Moynihan. We also benefited from the improvement in the U.S. economy, where we are particularly well positioned.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of The Charles Schwab Corporation (NYSE:SCHW), inclined 0.57% to $34.99, during its last trading session, hitting its highest level.
As many independent registered investment advisor (RIA) firms surpass the 20 years-in-business mark, their revenue and profitability have achieved all-time highs according to results from Charles Schwab’s 2015 RIA Benchmarking Study (Study). Nearly half of firms (42%) participating in the Study have doubled their revenue since 2009, and assets under administration (AUM) have raised by 75 percent for half of firms in the Study over the same time period, representing a compound annual growth rate (CAGR) of 12.1 percent. Together with AUM growth, profitability - measured as standardized operating margin - has risen 36 percent over the last five years and now stands at 27 percent for the median1 firm in the Study. Moreover, the gap in profitability has reduced between the most profitable and least profitable firms as the industry continues to mature and more firms adopt best practices and technology-led innovations.
Now in its ninth year, the Study comprises responses from more than 1,000 firms collectively managing nearly three-quarters of a trillion dollars in assets. In addition to record revenue and profitability, the data also shows that RIA firms have achieved an effective combination of growth and improved operating margins as they are increasingly institutionalizing operations and making planned decisions around talent – not only to manage their recent growth, but also to be better positioned to succeed into the next decade and beyond. The results indicate that the sustained, rapid growth trajectory over the past five years has also assisted build considerable value in many firms. Schwab benchmarking data indicates firms are not only increasing assets under administration through both client acquisition and organic growth but are also enjoying high client and employee retention – attributes of business health and value.
The Charles Schwab Corporation, through its auxiliaries, provides wealth administration, securities brokerage, banking, money administration, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services.
Finally, Infosys Ltd. (NYSE:INFY), ended its last trade with -0.44% loss, and closed at $15.77.
Infosys Limited, has been inducted into the ‘Winner’s Circle’ in the inaugural Engineering Services Blueprint report by leading analyst firm HfS Research. Companies that demonstrate excellence in execution and innovation are placed in the ‘Winner’s Circle’ by HfS.
The report commended Infosys for exhibiting a high level of planned vision, innovation-led thinking, and strong client relationships. Infosys has been listed among the leaders in key verticals, counting automotive, aerospace and defense, telecom and hi-tech in addition to in medical devices and industrial equipment.
Infosys Limited, together with its auxiliaries, provides business consulting, technology, engineering, and outsourcing services in North America, Europe, India, and internationally.
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