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S&P 500   5,088.80
DOW   39,131.53
QQQ   436.78
How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
66,000% upside on tiny biotech? (Ad)
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AI Stock Caught Trading Under Secret Name (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
S&P 500   5,088.80
DOW   39,131.53
QQQ   436.78
How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
66,000% upside on tiny biotech? (Ad)
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
MILAN FASHION PHOTOS: Feben, Rave Review promote looks for women of all shapes, ages and sizes
AI Stock Caught Trading Under Secret Name (Ad)
Caribbean leaders meet with Haiti's prime minister. Foreign force deployment is on the agenda
What recession? Professional forecasters raise expectations for US economy in 2024
AI Stock Caught Trading Under Secret Name (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
S&P 500   5,088.80
DOW   39,131.53
QQQ   436.78
How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
66,000% upside on tiny biotech? (Ad)
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
MILAN FASHION PHOTOS: Feben, Rave Review promote looks for women of all shapes, ages and sizes
AI Stock Caught Trading Under Secret Name (Ad)
Caribbean leaders meet with Haiti's prime minister. Foreign force deployment is on the agenda
What recession? Professional forecasters raise expectations for US economy in 2024
AI Stock Caught Trading Under Secret Name (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
NYSE:BAC

Bank of America (BAC) Stock Price, News & Analysis

$33.92
+0.31 (+0.92%)
(As of 02/23/2024 08:52 PM ET)
Today's Range
$33.49
$34.05
50-Day Range
$31.73
$34.80
52-Week Range
$24.96
$35.10
Volume
30.59 million shs
Average Volume
41.28 million shs
Market Capitalization
$267.04 billion
P/E Ratio
11.05
Dividend Yield
2.83%
Price Target
$35.53

Bank of America MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.60 Rating Score
Upside/​Downside
4.7% Upside
$35.53 Price Target
Short Interest
Healthy
0.79% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.43mentions of Bank of America in the last 14 days
Based on 28 Articles This Week
Insider Trading
Acquiring Shares
$65,625 Bought Last Quarter
Proj. Earnings Growth
7.64%
From $3.14 to $3.38 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.79 out of 5 stars

Finance Sector

75th out of 842 stocks

National Commercial Banks Industry

13th out of 84 stocks


BAC stock logo

About Bank of America Stock (NYSE:BAC)

Bank of America has a rich history dating back to 1800 and even earlier. It was begun by immigrants as a group of separate and unrelated banks that, over the years, merged and grew together. One such is the Bank of Italy which was founded in 1904 by Amadeo Giannini to serve Italian immigrants that were facing discrimination. He later buys out the Banca de America e de Italia (Bank of America and Italy) which was also located in San Francisco. Over the years additional mergers and changes in Federal banking legislation, as well as the boom brought on by WWI and then WWII, helped boost the bank to national prominence.

Things turned sour, however, in 1998 with a major bond default that led to yet another merger, this time with Charlotte, NC-based Nations Bank to officially become the Bank of America that exists today. At the time, the merger was the largest bank merger in history and the company has only grown in the time since.

Other additions to the new Bank of America include MBNA (a major credit card operator), Fleet Boston (then the US 7th largest and one of its oldest banks), and Merril Lynch, now Merril, which was added to the group in 2008 to provide an investment banking branch. Together the company dominates as one of the Big Four Banks in America. Bank of America lays claim to nearly 11% of all US deposits which ranks in line with its peer group and Bank of America Securities is listed as the world’s 3rd largest investment bank.

Today, Bank of America Corporation provides banking and financial services for individuals, small businesses, institutions, corporations, and governments worldwide. The bank operates in three segments Consumer Banking, Global Wealth & Investment Management, and Global Banking bringing in a combined revenue greater than $90 billion in 2022.

As of 2022, Bank of America serves approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers. The bank also operates more than 16,000 ATMs and digital banking platforms with approximately 41 million active users.

Its Consumer Banking segment offers traditional banking and investment products for retail clients. These range from deposit accounts to savings, credit cards, consumer loans, and IRAs. The Global Wealth & Investment Management segment offers investment and wealth management solutions including, brokerage, banking, and trust and retirement products. The Global Banking segment provides lending products and services, including commercial loans and leases for businesses of all varieties. The Global Markets segment offers market-making, clearing, settlement, and custody services, as well as risk management, derivatives, and FX exchange services.

BAC Stock Price History

BAC Stock News Headlines

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Company Calendar

Ex-Dividend for 12/29 Dividend
11/30/2023
Dividend Payable
12/29/2023
Last Earnings
1/12/2024
Today
2/25/2024
Ex-Dividend for 3/29 Dividend
2/29/2024
Dividend Payable
3/29/2024
Next Earnings (Estimated)
4/16/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
National commercial banks
Sub-Industry
N/A
Employees
217,000
Year Founded
1998

Price Target and Rating

Average Stock Price Target
$35.53
High Stock Price Target
$50.00
Low Stock Price Target
$27.50
Potential Upside/Downside
+4.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.60
Research Coverage
15 Analysts

Profitability

Net Income
$26.52 billion
Pretax Margin
16.49%

Debt

Sales & Book Value

Annual Sales
$171.91 billion
Cash Flow
$3.91 per share
Book Value
$33.44 per share

Miscellaneous

Outstanding Shares
7,872,660,000
Free Float
7,851,401,000
Market Cap
$267.04 billion
Optionable
Optionable
Beta
1.39

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Should I Buy Bank of America Stock? BAC Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Bank of America was last updated on Wednesday, February 21, 2024 at 12:14 AM.

Pros

Here are some ways that investors could benefit from investing in Bank of America:

  • Bank of America has been proactive in diversifying its revenue streams, expanding beyond traditional banking services into wealth management and investment banking. This diversification can provide multiple sources of income and help mitigate risks associated with interest rate fluctuations.
  • Bank of America has embraced cutting-edge technologies like artificial intelligence (AI) and machine learning algorithms to enhance operational efficiency and offer personalized experiences to customers. This technological focus can improve customer interactions and drive growth.
  • Bank of America's strong focus on innovation and expansion plans positions it as a growth-oriented bank. Continued investment in digital banking services, such as mobile app enhancements and peer-to-peer funds transfer services like Zelle, can attract more customers and drive profitability.
  • Regulatory changes post-2008 financial crisis have increased oversight on large banks like Bank of America, ensuring higher capital requirements and stress tests. This regulatory environment can provide stability and confidence to investors, considering Bank of America's status as one of the largest banks in the U.S.
  • Bank of America's acquisition of Merrill Lynch in 2008 has elevated its wealth management, research, and investment banking services. This acquisition has enhanced the bank's offerings and positioned it as a reputable and secure money center bank for individuals and companies.

Cons

Investors should be bearish about investing in Bank of America for these reasons:

  • A recession could negatively impact Bank of America's stock performance, as economic downturns tend to affect banking stocks. Uncertain market conditions during a recession may lead to a decline in profitability and stock value.
  • Bank of America faces competition in the banking industry, with evolving consumer preferences and increasing digital banking options. Intense competition can put pressure on the bank's market share and profitability, affecting investor returns.
  • Rising interest rates may influence investor decisions, as higher rates can make risk-free money market accounts more attractive compared to bank stocks like Bank of America. This interest rate dynamic could divert investment preferences away from bank stocks.
  • Market sentiment and external factors like inflation and contagion fears can impact Bank of America's stock performance. Negative sentiment stemming from economic uncertainties or credit crises can lead to stock price volatility and investor concerns.
  • Valuation metrics and industry comparisons can influence investor perceptions of Bank of America's stock. Overvaluation or undervaluation relative to historical levels and industry peers may prompt selling or short-selling activities, affecting stock price movements.














BAC Stock Analysis - Frequently Asked Questions

Should I buy or sell Bank of America stock right now?

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" BAC shares.
View BAC analyst ratings
or view top-rated stocks.

What is Bank of America's stock price target for 2024?

15 Wall Street research analysts have issued 12 month target prices for Bank of America's stock. Their BAC share price targets range from $27.50 to $50.00. On average, they predict the company's share price to reach $35.53 in the next year. This suggests a possible upside of 4.7% from the stock's current price.
View analysts price targets for BAC
or view top-rated stocks among Wall Street analysts.

How have BAC shares performed in 2024?

Bank of America's stock was trading at $33.67 at the beginning of 2024. Since then, BAC shares have increased by 0.7% and is now trading at $33.92.
View the best growth stocks for 2024 here
.

Are investors shorting Bank of America?

Bank of America saw a drop in short interest in the month of January. As of January 31st, there was short interest totaling 62,530,000 shares, a drop of 10.4% from the January 15th total of 69,790,000 shares. Based on an average trading volume of 42,230,000 shares, the short-interest ratio is currently 1.5 days. Currently, 0.8% of the shares of the company are short sold.
View Bank of America's Short Interest
.

When is Bank of America's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 16th 2024.
View our BAC earnings forecast
.

How were Bank of America's earnings last quarter?

Bank of America Co. (NYSE:BAC) posted its quarterly earnings data on Friday, January, 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The financial services provider had revenue of $22 billion for the quarter, compared to analysts' expectations of $23.70 billion. Bank of America had a net margin of 15.42% and a trailing twelve-month return on equity of 11.38%. The business's revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share.
Read the conference call transcript
.

How often does Bank of America pay dividends? What is the dividend yield for Bank of America?

Bank of America announced a quarterly dividend on Wednesday, January 31st. Stockholders of record on Friday, March 1st will be given a dividend of $0.24 per share on Friday, March 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, February 29th.
Read our dividend analysis for BAC
.

Is Bank of America a good dividend stock?

Bank of America (NYSE:BAC) pays an annual dividend of $0.96 per share and currently has a dividend yield of 2.83%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 31.27%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 28.40% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BAC.

What is Brian T. Moynihan's approval rating as Bank of America's CEO?

10,089 employees have rated Bank of America Chief Executive Officer Brian T. Moynihan on Glassdoor.com. Brian T. Moynihan has an approval rating of 92% among the company's employees. This puts Brian T. Moynihan in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Bank of America own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Bank of America investors own include JPMorgan Chase & Co. (JPM), AT&T (T), Micron Technology (MU), General Electric (GE), Intel (INTC), Citigroup (C), Alibaba Group (BABA), NVIDIA (NVDA), Walt Disney (DIS) and Wells Fargo & Company (WFC).

Who are Bank of America's major shareholders?

Bank of America's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (7.69%), Norges Bank (1.40%), Price T Rowe Associates Inc. MD (1.31%), Dodge & Cox (0.84%), Legal & General Group Plc (0.72%) and Charles Schwab Investment Management Inc. (0.53%). Insiders that own company stock include Andrew M Sieg, Dean C Athanasia, Frank P Bramble, James P Demare, Matthew M Koder, Of America Corp /De/ Bank and Thong M Nguyen.
View institutional ownership trends
.

How do I buy shares of Bank of America?

Shares of BAC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Bank of America have any subsidiaries?
The following companies are subsidiares of Bank of America: BA Continuum Costa Rica, BA Continuum India Private Limited, BA Continuum Singapore International Holdings Private Limited, BA Credit Card Funding, BA Electronic Data Processing (Guangzhou) Ltd., BAC Canada Finance Company, BAC North America Holding Company, BAL Investment & Advisory, BAMS Solutions, BANA Canada Funding Company Ltd., BANA Holding Corporation, Banc of America FSC Holdings, Banc of America Leasing & Capital, Banc of America Preferred Funding Corporation, Banc of America Public Capital Corp, Banc of America Securities Asia Limited, Bank of America California, Bank of America Custodial Services (Ireland) Limited, Bank of America Malaysia Berhad, Bank of America Merrill Lynch Banco Multiplo S.A., Bank of America Merrill Lynch International Designated Activity Company, Bank of America Merrill Lynch International Limited, Bank of America Mexico, Bank of America Singapore Limited, BankAmerica International Financial Corporation, Blue Ridge Investments, BofA Canada Bank, BofA Finance LLC, BofA Securities, BofAML EMEA Funding Limited, BofAML Jersey Holdings Limited, Boston Overseas Financial Corporation, CM Investment Solutions Limited, Catahoula-LaSalle Bank, Cherry Park LLC, Countrywide Financial Corporation, Countrywide Home Loans, DSP Merrill Lynch Limited, FIA Holdings S.a.r.l., Financial Data Services, First Franklin Financial Corporation, HealthLogic Systems, MBNA, ML Equity Solutions Jersey Limited, ML UK Capital Holdings Limited, Managed Account Advisors LLC, Merrill Lynch, Merrill Lynch (Asia Pacific) Limited, Merrill Lynch (Australia) Futures Limited, Merrill Lynch (Singapore) Pte. Ltd., Merrill Lynch Argentina S.A., Merrill Lynch B.V., Merrill Lynch Bank and Trust Company (Cayman) Limited, Merrill Lynch Canada Inc., Merrill Lynch Capital Markets Espana, Merrill Lynch Capital Services, Merrill Lynch Commodities, Merrill Lynch Commodities Canada, Merrill Lynch Corredores de Bolsa SpA, Merrill Lynch Credit Reinsurance Limited, Merrill Lynch Derivative Products AG, Merrill Lynch Equities (Australia) Limited, Merrill Lynch Equity S.a.r.l., Merrill Lynch Far East Limited, Merrill Lynch Financial Markets, Merrill Lynch Global Services Pte. Ltd., Merrill Lynch International, Merrill Lynch International & Co. C.V., Merrill Lynch Israel Ltd., Merrill Lynch Japan Finance GK, Merrill Lynch Japan Securities Co., Merrill Lynch Luxembourg Finance S.A., Merrill Lynch Malaysian Advisory Sdn. Bhd., Merrill Lynch Markets (Australia) Pty. Limited, Merrill Lynch Markets Singapore Pte. Ltd., Merrill Lynch Mexico, Merrill Lynch Professional Clearing Corp., Merrill Lynch Reinsurance Solutions LTD, Merrill Lynch S.A. Corretora de Titulos e Valores Mobiliarios, Merrill Lynch Securities (Taiwan) Ltd., Merrill Lynch Securities (Thailand) Limited, Merrill Lynch South Africa Proprietary Limited, Merrill Lynch Yatirim Bank A.S., Mortgages 1 Limited, Mortgages plc, NB Holdings Corporation, National Processing, OOO Merrill Lynch Securities, One Bryant Park LLC, PT Merrill Lynch Indonesia, PT Merrill Lynch Sekuritas Indonesia, Plano Partners, ReconTrust Company, U.S. Trust Company of Delaware, and Wave Lending Limited.
Read More
This page (NYSE:BAC) was last updated on 2/26/2024 by MarketBeat.com Staff