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NYSE:BAC

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

$39.18
-0.57 (-1.43%)
(As of 05/23/2024 ET)
Today's Range
$38.94
$39.84
50-Day Range
$34.68
$39.76
52-Week Range
$24.96
$39.84
Volume
39.01 million shs
Average Volume
30.96 million shs
Market Capitalization
$306.44 billion
P/E Ratio
13.56
Dividend Yield
2.45%
Price Target
$38.70

Bank of America MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
1.2% Downside
$38.70 Price Target
Short Interest
Healthy
0.92% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.94mentions of Bank of America in the last 14 days
Based on 24 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
8.98%
From $3.23 to $3.52 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.

4.61 out of 5 stars

Finance Sector

119th out of 837 stocks

National Commercial Banks Industry

18th out of 76 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

Stock market today: Asian stocks advance after Wall Street closes out another winning week
Asian stocks have advanced after U.S. stock indexes drifted near their records on Friday with the Dow Jones Industrial Average finishing above 40,000 for the first time
Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets
Visa has announced major changes to how its credit and debit cards will operate in the U.S. Features in the works will lead to Americans to carry fewer physical cards in their wallets and make the 16-digit credit or debit card number printed on every physical card increasingly irrelevant
Banks Were Right in Boosting Shake Shack Stock Before Earnings (BAC)
Shares of Shake Shack rose by 3.8% after the company's first-quarter earnings, beating an inflation-choked economy during the year.
Japan's currency falls to its weakest since 1990 against the dollar as the yen keeps yelping
The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1
Stagflation Is Real, Mastercard Stock Now a Sudden Must Have (BAC)
Mastercard remains the top credit card issuer in terms of growth and potential upside for its shareholders, today's economy makes it a must-have stock
3 Companies Buying Back Cheap Stock Lately (BAC)
Three companies are now considered cheap enough for insiders to start buying; high profit margins and price discounts make for potential wealth compounders
3 Stocks Leading the U.S. Agriculture Comeback
Three agricultural stocks could come into play as the industry shows signs of a potential breakout soon. From high upside to low betas and high dividend.
3 Bargain Stocks Near 52-week Lows
Markets were scared to wake up to the Federal Reserve (the Fed) pulling the rug. After pricing in the proposed interest rate cuts for 2024, which were set to be implemented by March, then May, and now September, according to the CME's FedWatch tool, markets retraced on the thought of no more cuts coming this year.
3 Bargain Stocks Near 52-week Lows (BAC)
Three undeniable bargains came into play after the market's disappointment sell off, investors still have double-digit upside ahead of them in these names
Crane Stock's Quarter On-Track For a Bullish Year?
Crane stock's first quarter earnings showed investors why this stock earned Wall Street's love; it's valued over competitors with bullish price action
3 Warren Buffett Stocks to Buy Now: May 2024
Bank of America (NYSE:BAC) Downgraded by StockNews.com to Sell
Bank of America (NYSE:BAC) Hits New 52-Week High at $39.46
See More Headlines
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Company Calendar

Ex-Dividend for 3/29 Dividend
2/29/2024
Dividend Payable
3/29/2024
Last Earnings
4/16/2024
Today
5/23/2024
Ex-Dividend for 6/28 Dividend
6/07/2024
Dividend Payable
6/28/2024
Next Earnings (Estimated)
7/16/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
National commercial banks
Sub-Industry
N/A
Employees
213,000
Year Founded
1998

Price Target and Rating

Average Stock Price Target
$38.70
High Stock Price Target
$46.00
Low Stock Price Target
$27.50
Potential Upside/Downside
-1.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
18 Analysts

Profitability

Net Income
$26.52 billion
Pretax Margin
14.77%

Debt

Sales & Book Value

Annual Sales
$98.14 billion
Cash Flow
$3.86 per share
Book Value
$33.91 per share

Miscellaneous

Outstanding Shares
7,820,371,000
Free Float
7,797,692,000
Market Cap
$306.44 billion
Optionable
Optionable
Beta
1.37

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BAC Stock Analysis - Frequently Asked Questions

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

18 Wall Street equities 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 10 buy ratings for the stock. The consensus among Wall Street equities research 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?

18 equities research analysts have issued 1-year target prices for Bank of America's shares. Their BAC share price targets range from $27.50 to $46.00. On average, they expect the company's share price to reach $38.70 in the next twelve months. This suggests that the stock has a possible downside of 1.2%.
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 on January 1st, 2024. Since then, BAC stock has increased by 16.4% and is now trading at $39.1850.
View the best growth stocks for 2024 here
.

Are investors shorting Bank of America?

Bank of America saw a increase in short interest in April. As of April 30th, there was short interest totaling 72,030,000 shares, an increase of 11.2% from the April 15th total of 64,800,000 shares. Based on an average daily volume of 38,920,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the company's stock 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, July 16th 2024.
View our BAC earnings forecast
.

How were Bank of America's earnings last quarter?

Bank of America Co. (NYSE:BAC) issued its quarterly earnings results on Tuesday, April, 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The financial services provider had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a trailing twelve-month return on equity of 10.88% and a net margin of 13.94%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS.
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 Thursday, April 25th. Investors of record on Friday, June 7th will be given a dividend of $0.24 per share on Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 7th.
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 2.47%. The company has been increasing its dividend for 10 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 33.22%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 27.27% 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 many different retail and institutional investors. Top institutional investors include Vanguard Group Inc. (8.24%), Price T Rowe Associates Inc. MD (1.20%), Bank of New York Mellon Corp (0.67%), Capital World Investors (0.52%), Pzena Investment Management LLC (0.27%) and Sumitomo Mitsui Trust Holdings Inc. (0.22%). 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.
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This page (NYSE:BAC) was last updated on 5/24/2024 by MarketBeat.com Staff

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