Ally has reported solid earnings and revenue growth this year, but negative consumer sentiment and deteriorating credit conditions could dampen vehicle sales, a key source of loan growth. Read more…
The credit card giant has some exposure to a weakening economy. Read more…
The big bank has done well, but will new pressures send its stock lower? Read more…
|Bank||Ticker||Total assets ($ billions)||Consensus EPS estimate (Q319)||EPS (Q318)||Expected EPS change
from year earlier
|J.P. Morgan Chase & Co.||JPM||$2,727||$2.45||$2.34||5%|
|Bank of America Corp.||BAC||$2,396||$0.57||$0.66||-13%|
|Wells Fargo & Co.||WFC||$1,923||$1.21||$1.13||7%|
Bank of America’s virtual assistant, Erica, has reached 7 million users since its nationwide rollout last June. Read more…
Phone numbers are on the verge of extinction as almost half (46 percent) of Americans ages 18-22 ask for a social media handle instead of a phone number when meeting new people, according to a survey of mobile customers by Bank of America.
Other key findings:
Most Americans (58 percent) anticipate the country will become entirely cashless in their lifetime. About one quarter (23 percent) of Americans say they can avoid using cash for a month at a time, while 19 percent said they can forego using physical currency for a full year.
The most popular apps are navigation (used by 68 percent of consumers), entertainment (58 percent), retail (55 percent) and music (51 percent). Americans prefer an app that is easy to use (35 percent) and efficient (23 percent), compared with one that is entertaining (12 percent) or social (5 percent).
Person-to-person payments have become more popular, rising eight percentage points in the past year to 44 percent of consumers. PSP gift is considered appropriate for birthdays (58 percent of respondents), graduations (48 percent), holidays (48 percent), allowances (42 percent) and weddings (38 percent).
Mobile communications are the most common way to stay in touch with siblings (74 percent), friends (68 percent) and parents (53 percent), while in-person communication is more common with significant others (84 percent), children (67 percent) and colleagues (61 percent).
Mobile bank apps have grown their user base from 48 percent of people surveyed in 2015 to 70 percent this year. The biggest adopters of mobile banking are Generation Z (78 percent), millennials (77 percent), Generation X (67 percent) and baby boomers (59 percent).
Many Americans are comfortable using biometrics on their smartphones such as fingerprint/touch ID (69 percent), voice recognition (65 percent), facial recognition (50 percent) and retina scan (44 percent).
Researcher Convergys surveyed 1,001 adults 18 and older with a current bank account at Bank of America and who own a smartphone.