Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Banks - NEC
- Sub-Industry: N/A
- Symbol: NYSE:BAC
- CUSIP: N/A
- Web: www.bankofamerica.com
- Market Cap: $235.0992 billion
- Outstanding Shares: 10,516,450,000
- 50 Day Moving Avg: $23.71
- 200 Day Moving Avg: $23.61
- 52 Week Range: $14.09 - $25.80
Sales & Book Value:
- Trailing P/E Ratio: 15.87
- Foreward P/E Ratio: 11.12
- P/E Growth: 1.12
- Annual Revenue: $81.72 billion
- Price / Sales: 3.06
- Book Value: $24.36 per share
- Price / Book: 0.98
- Annual Dividend: $0.30
- Dividend Yield: 1.3%
- Net Margins: 20.28%
- Return on Equity: 8.11%
- Return on Assets: 0.89%
- Debt-to-Equity Ratio: 0.91%
- Current Ratio: 0.91%
- Quick Ratio: 0.91%
- Average Volume: 79.13 million shs.
- Beta: 1.27
- Short Ratio: 1.38
Frequently Asked Questions for Bank of America Corporation (NYSE:BAC)
What is Bank of America Corporation's stock symbol?
Bank of America Corporation trades on the New York Stock Exchange (NYSE) under the ticker symbol "BAC."
How often does Bank of America Corporation pay dividends? What is the dividend yield for Bank of America Corporation?
Bank of America Corporation declared a quarterly dividend on Tuesday, May 2nd. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.075 per share on Friday, June 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, May 31st. View Bank of America Corporation's Dividend History.
How will Bank of America Corporation's stock buyback program work?
Bank of America Corporation announced that its board has authorized a stock repurchase program on Thursday, June 29th 2017, which permits the company to repurchase $12,000,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its shares are undervalued.
How were Bank of America Corporation's earnings last quarter?
Bank of America Corporation (NYSE:BAC) announced its quarterly earnings results on Tuesday, July, 18th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.43 by $0.03. The business had revenue of $22.80 billion for the quarter, compared to analyst estimates of $21.84 billion. Bank of America Corporation had a net margin of 20.28% and a return on equity of 8.11%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. View Bank of America Corporation's Earnings History.
When will Bank of America Corporation make its next earnings announcement?
Where is Bank of America Corporation's stock going? Where will Bank of America Corporation's stock price be in 2017?
33 brokers have issued 12-month price targets for Bank of America Corporation's stock. Their forecasts range from $16.00 to $30.00. On average, they anticipate Bank of America Corporation's stock price to reach $23.70 in the next twelve months. View Analyst Ratings for Bank of America Corporation.
What are analysts saying about Bank of America Corporation stock?
Here are some recent quotes from research analysts about Bank of America Corporation stock:
- 1. Credit Suisse Group analysts commented, "We assume our revenue forecast is more optimistic than management’s base case—if our top line is actually more in sync with management, all else being equal, the net benefit of the differential on the expense line would be ~$0.10 per share, after tax." (6/4/2017)
- 2. According to Zacks Investment Research, "Bank of America’s shares significantly outperformed the Zacks categorized Major Regional Banks industry, over the last six months. The company’s first-quarter 2017 earnings easily surpassed the Zacks Consensus Estimate, driven by impressive revenue growth and stable expenses. Improving interest rate scenario, rise in deposit balances and gradual increase in loan demand are expected to continue supporting its top-line growth, going forward. Further, efforts to streamline and simplify operations continue to enhance efficiency and strengthen its balance sheet. However, fall in mortgage banking income over the last few quarters owing to lower volumes and decline in refinancing remain one of the key near-term concerns for the company. Apart from this, uncertainty related to potential policy changes under Donald Trump's administration make us apprehensive." (4/24/2017)
Are investors shorting Bank of America Corporation?
Bank of America Corporation saw a decrease in short interest in June. As of June 30th, there was short interest totalling 113,189,964 shares, a decrease of 14.0% from the June 15th total of 131,636,140 shares. Based on an average daily volume of 81,976,741 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.1% of the shares of the stock are sold short.
Who are some of Bank of America Corporation's key competitors?
Some companies that are related to Bank of America Corporation include J P Morgan Chase & Co (JPM), Wells Fargo & Company (WFC), Citigroup (C), Royal Bank Of Canada (RY), Banco Santander, S.A. (SAN), Toronto Dominion Bank (The) (TD), U.S. Bancorp (USB), Westpac Banking Corporation (WBK), Mitsubishi UFJ Financial Group (MTU), HDFC Bank Limited (HDB), Itau Unibanco Banco Holding SA (ITUB), Bank of Nova Scotia (The) (BNS), ING Group, N.V. (ING), Lloyds Banking Group PLC (LYG), Banco Bradesco SA (BBD), PNC Financial Services Group, Inc. (The) (PNC), Banco Bilbao Vizcaya Argentaria SA (BBVA) and Lloyds Banking Group PLC (LLOY).
Who are Bank of America Corporation's key executives?
Bank of America Corporation's management team includes the folowing people:
- Brian T. Moynihan, Chairman of the Board, President, Chief Executive Officer
- Paul M. Donofrio, Chief Financial Officer
- Dean C. Athanasia, President - Preferred & Small Business Banking and Co-Head - Consumer Banking
- Terrence P. Laughlin, Vice Chairman - Global Wealth & Investment Management
- Thong M. Nguyen, President of Retail Banking, and Co-Head – Consumer Banking
- Thomas K. Montag, Chief Operating Officer
- Catherine P. Bessant, Chief Operations and Technology Officer
- Andrea B. Smith, Chief Administrative Officer
- Geoffrey S. Greener, Chief Risk Officer
- David G. Leitch, Global General Counsel
Who owns Bank of America Corporation stock?
Bank of America Corporation's stock is owned by a variety of of institutional and retail investors. Top institutional investors include APG Asset Management N.V. (0.29%), WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST (0.19%), Fisher Asset Management LLC (0.15%), National Pension Service (0.07%), Gateway Investment Advisers LLC (0.06%) and Swedbank (0.05%). Company insiders that own Bank of America Corporation stock include Frank P Bramble, Michael D White, Thomas D Woods, Thong M Nguyen and Ynoface Holdings Inc. View Institutional Ownership Trends for Bank of America Corporation.
Who sold Bank of America Corporation stock? Who is selling Bank of America Corporation stock?
Bank of America Corporation's stock was sold by a variety of institutional investors in the last quarter, including Fisher Asset Management LLC, Barometer Capital Management Inc., DnB Asset Management AS, Hermes Investment Management Ltd., KAMES CAPITAL plc, Swarthmore Group Inc., Exxonmobil Investment Management Inc. TX and Gateway Investment Advisers LLC. View Insider Buying and Selling for Bank of America Corporation.
Who bought Bank of America Corporation stock? Who is buying Bank of America Corporation stock?
Bank of America Corporation's stock was bought by a variety of institutional investors in the last quarter, including APG Asset Management N.V., Hexavest Inc., Oregon Public Employees Retirement Fund, Mn Services Vermogensbeheer B.V., National Pension Service, Exane Asset Management, Gillespie Robinson & Grimm Inc. and Aperio Group LLC. Company insiders that have bought Bank of America Corporation stock in the last two years include Frank P Bramble, Michael D White, Thomas D Woods, Thong M Nguyen and Ynoface Holdings Inc. View Insider Buying and Selling for Bank of America Corporation.
How do I buy Bank of America Corporation stock?
Shares of Bank of America Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Bank of America Corporation's stock price today?
MarketBeat Community Rating for Bank of America Corporation (NYSE BAC)MarketBeat's community ratings are surveys of what our community members think about Bank of America Corporation and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Bank of America Corporation stock can currently be purchased for approximately $23.80.
Consensus Ratings for Bank of America Corporation (NYSE:BAC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 8 Hold Ratings, 22 Buy Ratings, 2 Strong Buy Ratings|
|Consensus Rating:||Buy (Score: 2.76)|
|Consensus Price Target: ||$23.70 (0.40% downside)|
Analysts' Ratings History for Bank of America Corporation (NYSE:BAC)
(Data available from 7/24/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|7/21/2017||Oppenheimer Holdings, Inc.||Reiterated Rating||Outperform||$29.00 -> $30.00||N/A|
|7/20/2017||Royal Bank Of Canada||Reiterated Rating||Buy||$26.00||Low|
|7/13/2017||Keefe, Bruyette & Woods||Reiterated Rating||Overweight||Low|
|7/10/2017||Buckingham Research||Reiterated Rating||Buy||$27.00 -> $30.00||Medium|
|7/7/2017||Jefferies Group LLC||Reiterated Rating||Buy||Low|
|7/3/2017||Deutsche Bank AG||Reiterated Rating||Hold||Low|
|6/4/2017||Credit Suisse Group||Reiterated Rating||Buy||Low|
|4/24/2017||Berenberg Bank||Downgrade||Buy -> Hold||$15.00 -> $22.00||High|
|4/22/2017||Barclays PLC||Reiterated Rating||Equal Weight||$26.00 -> $28.00||High|
|4/11/2017||BMO Capital Markets||Reiterated Rating||Hold||$21.00||Low|
|4/4/2017||Citigroup Inc.||Downgrade||Buy -> Neutral||$22.00 -> $25.00||Low|
|3/16/2017||Compass Point||Downgrade||Neutral -> Sell||$20.00||N/A|
|2/16/2017||Macquarie||Upgrade||Neutral -> Outperform||$28.00||N/A|
|2/7/2017||Daiwa Capital Markets||Upgrade||Hold -> Outperform||N/A|
|1/17/2017||Goldman Sachs Group, Inc. (The)||Reiterated Rating||Conviction-Buy||$27.00||N/A|
|1/17/2017||FBR & Co||Reiterated Rating||Outperform||$27.00||N/A|
|1/11/2017||Renaissance Capital||Reiterated Rating||Buy||$26.00||N/A|
|1/11/2017||Raymond James Financial, Inc.||Reiterated Rating||Buy||N/A|
|1/11/2017||Standpoint Research||Reiterated Rating||Hold||N/A|
|1/11/2017||Societe Generale||Upgrade||Hold -> Buy||$17.00||N/A|
|1/11/2017||Robert W. Baird||Reiterated Rating||Hold||$16.00||N/A|
|1/11/2017||Rafferty Capital Markets||Reiterated Rating||Buy||$19.00||N/A|
|1/11/2017||Morgan Stanley||Reiterated Rating||Buy||$17.00||N/A|
|1/11/2017||Sanford C. Bernstein||Reiterated Rating||Buy||$17.00||N/A|
|1/11/2017||Atlantic Securities||Reiterated Rating||Buy||N/A|
|1/5/2017||Erste Group||Upgrade||Sell -> Buy||N/A|
|8/31/2016||S&P Equity Research||Reiterated Rating||Buy||$18.00||N/A|
|7/9/2016||Wells Fargo & Company||Reiterated Rating||Buy||N/A|
|4/9/2016||J P Morgan Chase & Co||Reiterated Rating||Buy||N/A|
|1/21/2016||Independent Research GmbH||Lower Price Target||$18.00 -> $15.00||N/A|
|1/20/2016||Sandler O'Neill||Upgrade||Hold -> Buy||N/A|
Earnings History for Bank of America Corporation (NYSE:BAC)Earnings History by Quarter for Bank of America Corporation (NYSE BAC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/18/2017||Q2 2017||$0.43||$0.46||$21.84 billion||$22.80 billion||View||N/A|
|1/13/2017||Q416||$0.38||$0.40||$20.62 billion||$19.99 billion||View||Listen|
|10/17/2016||Q316||$0.33||$0.41||$21.04 billion||$21.64 billion||View||Listen|
|7/18/2016||Q216||$0.33||$0.36||$20.41 billion||$20.60 million||View||Listen|
|4/14/2016||Q116||$0.21||$0.21||$20.30 billion||$20.90 billion||View||Listen|
|1/19/2016||Q415||$0.26||$0.28||$19.86 billion||$3.34 billion||View||Listen|
|10/14/2015||Q315||$0.33||$0.37||$20.77 billion||$20.91 billion||View||Listen|
|7/15/2015||Q215||$0.36||$0.45||$21.32 billion||$22.30 billion||View||Listen|
|4/15/2015||Q115||$0.29||$0.27||$21.47 billion||$21.20 billion||View||Listen|
|1/15/2015||Q414||$0.31||$0.32||$21.33 billion||$19.58 billion||View||Listen|
|10/15/2014||Q314||($0.09)||($0.01)||$21.33 billion||$21.40 billion||View||Listen|
|7/16/2014||Q214||$0.29||$0.31||$21.69 billion||$21.96 billion||View||N/A|
|4/16/2014||Q114||$0.05||($0.05)||$22.38 billion||$22.80 billion||View||Listen|
|1/15/2014||Q413||$0.27||$0.29||$21.28 billion||$21.70 billion||View||Listen|
|10/16/2013||Q313||$0.19||$0.20||$22.11 billion||$22.19 billion||View||Listen|
|7/17/2013||Q2 2013||$0.25||$0.32||$22.61 billion||$22.95 billion||View||Listen|
|4/17/2013||Q1 2013||$0.23||$0.20||$23.50 billion||$23.70 billion||View||Listen|
|1/17/2013||Q4 2012||$0.20||$0.03||$22.40 billion||$22.60 billion||View||Listen|
Earnings Estimates for Bank of America Corporation (NYSE:BAC)
2017 EPS Consensus Estimate: $1.74
2018 EPS Consensus Estimate: $2.07
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Bank of America Corporation (NYSE:BAC)
|Most Recent Dividend:||6/30/2017|
|Dividend Growth:||84.20% (3 Year Average)|
|Payout Ratio:||17.86% (Trailing 12 Months of Earnings) |
16.57% (Based on This Year's Estimates)
14.02% (Based on Next Year's Estimates)
|Track Record:||3 Years of Consecutive Dividend Growth|
Dividend History by Quarter for Bank of America Corporation (NYSE BAC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Bank of America Corporation (NYSE:BAC)
Insider Ownership Percentage: 0.18%Insider Trades by Quarter for Bank of America Corporation (NYSE:BAC)
Institutional Ownership Percentage: 65.75%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|4/27/2017||Thomas D Woods||Director||Buy||25,000||$23.81||$595,250.00|| |
|11/21/2016||Michael D White||Director||Buy||25,000||$20.14||$503,500.00|| |
|8/15/2016||Ynoface Holdings Inc||Insider||Buy||798,403,194||$15.03||$12,000,000,005.82|| |
|8/2/2016||Thomas D Woods||Director||Buy||25,000||$14.13||$353,250.00|| |
|2/22/2016||Thong M Nguyen||Insider||Buy||30,000||$12.43||$372,900.00|| |
|2/16/2016||Frank P Bramble||Director||Buy||75,000||$12.32||$924,000.00|| |
|7/21/2015||Thong M Nguyen||Insider||Sell||7,520||$18.06||$135,811.20|| |
|5/11/2015||Murray Ross Orr||Director||Buy||50,000||$0.04||$2,000.00|
|5/5/2015||Murray Ross Orr||Director||Buy||10,000||$0.05||$480.00|
|4/28/2015||Of America Corp /De/ Bank||Major Shareholder||Sell||2,000||$25.52||$51,040.00|| |
|4/27/2015||Of America Corp /De/ Bank||Major Shareholder||Buy||2,000||$25.51||$51,020.00|| |
|4/15/2015||Murray Ross Orr||Director||Buy||11,000||$0.04||$418.00|
|4/10/2015||Murray Ross Orr||Director||Buy||1,000||$0.02||$20.00|
|3/17/2015||Murray Ross Orr||Director||Buy||60,000||$0.02||$1,200.00|
|9/30/2014||Of America Corp /De/ Bank||Major Shareholder||Sell||1||$21.38||$21.38|| |
|9/24/2014||Of America Corp /De/ Bank||Major Shareholder||Buy||1||$21.61||$21.61|| |
|10/18/2013||Thomas J May||Director||Sell||1,632||$14.63||$23,876.16|| |
|8/5/2013||Cotty Neil||CAO||Sell||30,000||$14.70||$441,000.00|| |
|6/14/2013||Charles K Gifford||Director||Sell||580,734||$13.07||$7,590,193.38|| |
|5/10/2013||Linda P Hudson||Director||Sell||6,934||$12.94||$89,725.96|| |
|4/18/2013||R David Yost||Director||Buy||20,000||$11.51||$230,200.00|| |
|1/24/2013||R David Yost||Director||Buy||20,000||$11.53||$230,600.00|| |
|11/7/2012||R David Yost||Director||Buy||10,000||$9.48||$94,800.00|| |
Headline Trends for Bank of America Corporation (NYSE:BAC)
Latest Headlines for Bank of America Corporation (NYSE:BAC)
Bank of America Corporation (BAC) Chart for Monday, July, 24, 2017