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

$30.58
-0.24 (-0.78%)
(As of 04:10 PM ET)
Compare
Today's Range
$30.33
$30.79
50-Day Range
$25.17
$30.96
52-Week Range
$24.96
$37.00
Volume
45.61 million shs
Average Volume
48.65 million shs
Market Capitalization
$242.00 billion
P/E Ratio
8.57
Dividend Yield
3.14%
Price Target
$35.43

Bank of America MarketRank™ Stock Analysis

Analyst Rating
Hold
2.47 Rating Score
Upside/​Downside
15.9% Upside
$35.43 Price Target
Short Interest
Healthy
0.84% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.55mentions of Bank of America in the last 14 days
Based on 20 Articles This Week
Insider Trading
Selling Shares
$176,624 Sold Last Quarter
Proj. Earnings Growth
-5.25%
From $3.43 to $3.25 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.81 out of 5 stars

Finance Sector

67th out of 777 stocks

National Commercial Banks Industry

10th out of 74 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

Are blue chip stocks a good investment? (BAC)
Are blue chip stocks a good investment? Are there other investments you should consider in addition to or before blue chips? Learn more with MarketBeat.
Bank stocks soar with these top performers
The financial sector, particularly bank stocks, has been on a tear lightly, clawing back losses from the year and edging into positive territory.
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology
Autonomix is preparing a public listing as they develop technology to potentially detect and treat a range of nervous system disorders with much greater visibility than available today. Now, their management team sees a potentially untapped $100B market opportunity.* *Disclosure: This is a paid advertisement for Autonomix’s Regulation A+ Offering. Please read the offering circular at invest.autonomix.com
Boeing's flight to strategic brilliance (BAC)
Exploring Boeing's soaring trajectory: Analyst endorsements, strategic partnerships and innovation initiatives shaping the future of aerospace.
2 overlooked stocks that crushed earnings but traded lower (BAC)
As the third quarter 2023 earnings season ends, it's worth looking back to see which stocks may have been overlooked or mispriced on their results
GE stock surges to six-year high: What's behind the move? (BAC)
General Electric stock hit a six-year closing high of $118.94, driven by a 78.67% gain this year. The company is spinning off its Vernova unit in Q2 2024
Buffett's latest portfolio additions, trims and cuts in Q3 (BAC)
Buffett's Berkshire latest Q3 moves: Acquires Sirius XM, Atlanta Braves; trims HP, Chevron, Amazon; holds onto Apple, Bank of America.
Banking and trucking: Is the economy rolling toward troubles? (BAC)
The seizure of an Iowa bank rippled through the banking sector. Bad loans were due to the troubled trucking industry, signaling possible economic woes ahead.
Trading Experts Call It “The Perfect Tesla Trade”
Thanks to a new discovery linked to shares of Tesla, regular folks can now target gains of 100% or more in six days or less. New research shows it’s happened 23 different times this year. The next trade is scheduled for this Thursday.
BofA Global Research Calls 2024 "The Year of the Landing"
See More Headlines
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Company Calendar

Ex-Dividend for 9/29 Dividend
8/31/2023
Dividend Payable
9/29/2023
Last Earnings
10/17/2023
Ex-Dividend for 12/29 Dividend
11/30/2023
Today
12/05/2023
Dividend Payable
12/29/2023
Fiscal Year End
12/31/2023
Next Earnings (Confirmed)
1/12/2024

Industry, Sector and Symbol

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

Price Target and Rating

Average Stock Price Target
$35.43
High Stock Price Target
$51.00
Low Stock Price Target
$27.50
Potential Upside/Downside
+15.9%
Consensus Rating
Hold
Rating Score (0-4)
2.47
Research Coverage
17 Analysts

Profitability

Net Income
$27.53 billion
Pretax Margin
20.29%

Debt

Sales & Book Value

Annual Sales
$115.05 billion
Cash Flow
$3.88 per share
Book Value
$30.51 per share

Miscellaneous

Outstanding Shares
7,913,730,000
Free Float
7,892,365,000
Market Cap
$241.84 billion
Optionable
Optionable
Beta
1.40

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BAC Stock Analysis - Frequently Asked Questions

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

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last year. There are currently 1 sell rating, 7 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" BAC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BAC, but not buy additional shares or sell existing shares.
View BAC analyst ratings
or view top-rated stocks.

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

17 Wall Street analysts have issued 1 year price targets for Bank of America's shares. Their BAC share price targets range from $27.50 to $51.00. On average, they anticipate the company's share price to reach $35.43 in the next year. This suggests a possible upside of 15.9% 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 2023?

Bank of America's stock was trading at $33.12 at the beginning of the year. Since then, BAC shares have decreased by 7.7% and is now trading at $30.56.
View the best growth stocks for 2023 here
.

Are investors shorting Bank of America?

Bank of America saw a drop in short interest in the month of November. As of November 15th, there was short interest totaling 66,550,000 shares, a drop of 6.2% from the October 31st total of 70,960,000 shares. Based on an average daily trading volume, of 44,890,000 shares, the short-interest ratio is presently 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 Friday, January 12th 2024.
View our BAC earnings forecast
.

How can I listen to Bank of America's earnings call?

Bank of America will be holding an earnings conference call on Friday, January 12th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Bank of America's earnings last quarter?

Bank of America Co. (NYSE:BAC) released its earnings results on Tuesday, October, 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.07. The financial services provider had revenue of $25.20 billion for the quarter, compared to analyst estimates of $25.13 billion. Bank of America had a trailing twelve-month return on equity of 12.08% and a net margin of 18.69%. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 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 declared a quarterly dividend on Wednesday, October 18th. Investors of record on Friday, December 1st will be paid a dividend of $0.24 per share on Friday, December 29th. This represents a $0.96 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 30th.
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 3.10%. 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 26.89%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 29.54% 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 Northern Trust Corp (0.85%), Bank of New York Mellon Corp (0.66%), Legal & General Group Plc (0.58%), Barclays PLC (0.52%), Charles Schwab Investment Management Inc. (0.51%) and Parnassus Investments LLC (0.47%). 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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 12/5/2023 by MarketBeat.com Staff

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