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Shares of Bank of America Corp(NYSE:BAC) ended Wednesday session in green amid volatile trading. The shares closed up +0.15 points or 0.90% at $16.87 with 58.73 million shares getting traded. Post opening the session at $16.64, the shares hit an intraday low of $16.62 and an intraday high of $16.87 and the price vacillated in this range throughout the day. The company has a market cap of $171.64 billion and the numbers of outstanding shares have been calculated to be 10.12 billion shares.

Bank of America Corp (BAC) announced the doubling of its annual commitment to its Affordable Loan Solution™ mortgage program from $500 million to $1 billion, ensuring continued support for an innovative mortgage program that has provided more than 90 percent of its recipients first-time homeownership financing.

“Since our introduction in February, the Affordable Loan Solution program has been meeting the needs of LMI borrowers who desire a responsible mortgage product at an affordable entry point,” said D. Steve Boland, Consumer Lending executive, Bank of America. “We’re especially proud of how the Affordable Loan Solution program has become a popular choice for creditworthy first-time homebuyers, many of whom live in underserved communities.”

Shares of Franklin Resources, Inc. (NYSE:BEN) ended Wednesday session in green amid volatile trading. The shares closed up +0.28 points or 0.80% at $35.10 with 6.17 million shares getting traded. Post opening the session at $34.69, the shares hit an intraday low of $33.79 and an intraday high of $35.49 and the price vacillated in this range throughout the day. The company has a market cap of $20.27 billion and the numbers of outstanding shares have been calculated to be 576.12 million shares.

Franklin Resources, Inc. (BEN) announced preliminary net income of $472.1 million or $0.82 per diluted share for the quarter ended September 30, 2016, as compared to $446.4 million or $0.77 per diluted share for the previous quarter and $358.2 million or $0.59 per diluted share for the quarter ended September 30, 2015. Preliminary net income for the year ended September 30, 2016 was $1,726.7 million or $2.94 per diluted share, as compared to $2,035.3 million or $3.29 per diluted share for the previous year.

“While this was a challenging fiscal year in many respects, I’m pleased to see that investment performance broadly improved over the course of the year,” said Greg Johnson, Chairman and CEO of Franklin Resources, Inc. “We continued to successfully manage our expense structure and also make strategic investments in the business, including the launch of a new suite of active ETFs at the beginning of October.”

 

 

 

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