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Bank of America - BAC Stock Forecast, Price & News

$36.82
+0.57 (+1.57%)
(As of 08/16/2022 12:39 PM ET)
Add
Compare
Today's Range
$36.10
$36.85
50-Day Range
$30.13
$36.35
52-Week Range
$29.67
$50.11
Volume
938,535 shs
Average Volume
37.94 million shs
Market Capitalization
$295.86 billion
P/E Ratio
11.51
Dividend Yield
2.31%
Price Target
$46.66

Bank of America MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.72 Rating Score
Upside/​Downside
27.0% Upside
$46.66 Price Target
Short Interest
Healthy
0.89% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.25mentions of Bank of America in the last 14 days
Based on 14 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
18.38%
From $3.21 to $3.80 Per Share

Overall MarketRank

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

3.28 out of 5 stars

Finance Sector

22nd out of 924 stocks

National Commercial Banks Industry

4th out of 89 stocks

BAC stock logo

About Bank of America (NYSE:BAC) Stock

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets lowered their price target on Bank of America from $48.00 to $46.00 and set a "market perform" rating for the company in a report on Tuesday, April 19th. Wells Fargo & Company lowered their price target on Bank of America from $66.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, July 1st. Credit Suisse Group reduced their target price on Bank of America from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 19th. Royal Bank of Canada reduced their target price on shares of Bank of America from $45.00 to $40.00 in a report on Tuesday, July 19th. Finally, Citigroup lowered their price target on Bank of America from $47.00 to $40.00 in a report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.66.

Bank of America Price Performance

NYSE:BAC opened at $36.25 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.15. The business's 50-day moving average is $32.92 and its 200 day moving average is $37.95. The company has a market capitalization of $291.28 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.62 and a beta of 1.39. Bank of America has a 12 month low of $29.67 and a 12 month high of $50.11.

Bank of America (NYSE:BAC - Get Rating) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). The firm had revenue of $22.69 billion during the quarter, compared to analysts' expectations of $22.79 billion. Bank of America had a net margin of 28.89% and a return on equity of 11.51%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, equities research analysts forecast that Bank of America will post 3.21 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from Bank of America's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, September 1st. Bank of America's payout ratio is 26.25%.

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BAC Stock News Headlines

Should you buy Bank of America Stock After Its Q2 Earnings Report?
Bank of America recently reported its Q2'22 earnings that missed key estimates. However, the bank also scored some wins and its attractive valuation is pushing bulls towards buying.
Wall Street rally fades as corporate profit reports ramp up
Stock indexes on Wall Street shed early gains and turned lower in afternoon trading Monday, a choppy start to another busy week for profit reports from U.S. companies
How This Rare Metal Is Going To Solve A $173 TRILLION World Problem… And Could Benefit Investors
According to Bloomberg NEF, changing the world to "All Green Energy" could cost about $173 trillion. And without this rare metal, going green would be IMPOSSIBLE. That's why there's a literal "gold rush" to find it. (HINT: It's not electric vehicles, nuclear power, or wind energy).
Stocks rise on Wall Street after profit reports from banks
Stocks are rising on Wall Street on Monday ahead of another busy week for profit reports from U.S. companies
Stocks open higher at start of another busy week of earnings
Stocks are opening higher on Wall Street ahead of another busy week of earnings from U.S. companies
Hedge fund managers become slightly less bearish: BofA
1 Stock With Growth Potential
This could be one of the best stocks to consider during this bear market run.
Is Now the Time to Place a Bet on Casino Stocks?
Bank of America: Prepare For The Worst
See More Headlines
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BAC Company Calendar

Ex-Dividend for 6/24 Dividend
6/02/2022
Dividend Payable
6/24/2022
Last Earnings
7/18/2022
Today
8/16/2022
Ex-Dividend for 9/30 Dividend
9/01/2022
Dividend Payable
9/30/2022
Next Earnings (Estimated)
10/13/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
National commercial banks
Sub-Industry
N/A
Sector
Finance
Employees
208,000
Year Founded
1998

Price Target and Rating

Average Stock Price Forecast
$46.66
High Stock Price Forecast
$64.00
Low Stock Price Forecast
$33.00
Forecasted Upside/Downside
+26.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.72
Research Coverage
18 Analysts

Profitability

Net Income
$31.98 billion
Pretax Margin
32.52%

Debt

Sales & Book Value

Annual Sales
$93.85 billion
Cash Flow
$4.92 per share
Book Value
$29.98 per share

Miscellaneous

Outstanding Shares
8,035,240,000
Free Float
8,014,347,000
Market Cap
$295.86 billion
Optionable
Optionable
Beta
1.39

Social Links


Key Executives

  • Mr. Brian Thomas Moynihan (Age 63)
    Chairman & CEO
    Comp: $1.77M
  • Mr. Alastair M. Borthwick (Age 53)
    Chief Financial Officer
    Comp: $8.17M
  • Mr. Matthew M. Koder (Age 50)
    Exec. Officer & Pres of Global Corp. and Investment Banking
    Comp: $9.19M
  • Mr. Paul M. Donofrio (Age 62)
    Vice Chairman
    Comp: $6.84M
  • Mr. James P. DeMare (Age 52)
    Exec. Officer & Pres of Global Markets
    Comp: $8.59M
  • Mr. Thomas M. Scrivener (Age 50)
    Chief Operations Exec.
  • Mr. Christopher M. Hyzy
    Chief Investment Officer
  • Mr. Rudolf A. Bless
    Chief Accounting Officer
  • Mr. Aditya Bhasin (Age 48)
    Chief Technology & Information Officer
  • Mr. Darrin Steve Boland (Age 53)
    Chief Admin. Officer













BAC Stock - Frequently Asked Questions

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

18 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last twelve months. There are currently 5 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BAC shares.
View BAC analyst ratings
or view top-rated stocks.

What is Bank of America's stock price forecast for 2022?

18 analysts have issued 1-year price objectives for Bank of America's shares. Their BAC share price forecasts range from $33.00 to $64.00. On average, they predict the company's share price to reach $46.66 in the next year. This suggests a possible upside of 28.7% 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 2022?

Bank of America's stock was trading at $44.49 at the beginning of 2022. Since then, BAC shares have decreased by 18.5% and is now trading at $36.25.
View the best growth stocks for 2022 here
.

When is Bank of America's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 13th 2022.
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 Monday, July, 18th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.02. The financial services provider had revenue of $22.69 billion for the quarter, compared to analyst estimates of $22.79 billion. Bank of America had a net margin of 28.89% and a trailing twelve-month return on equity of 11.51%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 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, July 20th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.22 per share on Friday, September 30th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, September 1st. This is a boost from the stock's previous quarterly dividend of $0.21.
Read our dividend analysis for BAC
.

Is Bank of America a good dividend stock?

Bank of America (NYSE:BAC) pays an annual dividend of $0.84 per share and currently has a dividend yield of 2.31%. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 26.25%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 22.11% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BAC.

How will Bank of America's stock buyback program work?

Bank of America declared that its Board of Directors has approved a stock buyback program on Thursday, April 15th 2021, which allows the company to repurchase $25,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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).

What is Bank of America's stock symbol?

Bank of America trades on the New York Stock Exchange (NYSE) under the ticker symbol "BAC."

Who are Bank of America's major shareholders?

Bank of America's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Northern Trust Corp (0.90%), Dodge & Cox (0.55%), UBS Asset Management Americas Inc. (0.39%), Clearbridge Investments LLC (0.37%), Primecap Management Co. CA (0.32%) and Sumitomo Mitsui Trust Holdings Inc. (0.27%). Insiders that own company stock include Andrew M Sieg, Berkshire Hathaway Inc, Dean C Athanasia, Frank P Bramble, Kathleen A Knox, 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.

What is Bank of America's stock price today?

One share of BAC stock can currently be purchased for approximately $36.25.

How much money does Bank of America make?

Bank of America (NYSE:BAC) has a market capitalization of $291.28 billion and generates $93.85 billion in revenue each year. The financial services provider earns $31.98 billion in net income (profit) each year or $3.20 on an earnings per share basis.

How many employees does Bank of America have?

The company employs 208,000 workers across the globe.

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
When was Bank of America founded?

Bank of America was founded in 1998.

How can I contact Bank of America?

Bank of America's mailing address is 100 N. TRYON STREET, CHARLOTTE NC, 28255. The official website for the company is www.bankofamerica.com. The financial services provider can be reached via phone at (704) 386-5681, via email at i_r@bankofamerica.com, or via fax at 704-386-8009.

This page (NYSE:BAC) was last updated on 8/16/2022 by MarketBeat.com Staff

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