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Bank of America - BAC Stock Forecast, Price & News

$36.24
-0.06 (-0.17%)
(As of 08/15/2022 03:28 PM ET)
Add
Compare
Today's Range
$35.68
$36.29
50-Day Range
$30.13
$36.35
52-Week Range
$29.67
$50.11
Volume
769,783 shs
Average Volume
50.73 million shs
Market Capitalization
$291.20 billion
P/E Ratio
11.33
Dividend Yield
2.31%
Price Target
$46.66

Bank of America MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.72 Rating Score
Upside/​Downside
28.7% 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
0.12mentions of Bank of America in the last 14 days
Based on 13 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.

3.27 out of 5 stars

Finance Sector

26th out of 927 stocks

National Commercial Banks Industry

4th out of 88 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on BAC. Citigroup dropped their target price on Bank of America from $47.00 to $40.00 in a report on Tuesday, July 12th. Wells Fargo & Company decreased their price target on Bank of America from $66.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, July 1st. Oppenheimer decreased their price target on Bank of America from $52.00 to $50.00 in a research note on Tuesday, May 3rd. Jefferies Financial Group decreased their target price on Bank of America from $43.00 to $33.00 in a research report on Monday, July 11th. Finally, Societe Generale raised Bank of America from a "hold" rating to a "buy" rating and set a $37.50 target price for the company in a research report on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.66.

Bank of America Stock Down 1.1 %

Shares of NYSE:BAC traded down $0.40 during mid-day trading on Monday, hitting $35.90. The company had a trading volume of 124,047 shares, compared to its average volume of 50,731,707. Bank of America has a 1-year low of $29.67 and a 1-year high of $50.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $288.47 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.62 and a beta of 1.39. The business's 50-day simple moving average is $32.91 and its 200 day simple moving average is $38.02.

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

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders 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 yield of 2.45%. The ex-dividend date is Thursday, September 1st. This is a positive change from Bank of America's previous quarterly dividend of $0.21. Bank of America's payout ratio is currently 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
Biden Executive Order 14017 Potentially Sending Lithium Stocks Skyrocketing
The White House is scared of our country's lithium supply running out. That's why Biden issued executive order 14017 to figure out how to expand our lithium production. And this is GREAT news for one company who's gobbling up land in the lithium-rich Nevada desert.
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
Want To Catch The Next Hot Investing Trend (Look Inside?)
While millennials are trying to get rich in crypto Ponzi schemes- there's something happening that Wall Street is TOTALLY ignoring. And it's about to affect every American Citizen over 55...
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
8/15/2022
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
+28.7%
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
$4.84 per share
Book Value
$29.98 per share

Miscellaneous

Outstanding Shares
8,035,239,000
Free Float
8,014,347,000
Market Cap
$291.20 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 analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last year. There are currently 5 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street 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 target prices for Bank of America's stock. Their BAC share price forecasts range from $33.00 to $64.00. On average, they predict the company's stock price to reach $46.66 in the next year. This suggests a possible upside of 28.9% 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 2022?

Bank of America's stock was trading at $44.49 on January 1st, 2022. Since then, BAC stock has decreased by 18.6% and is now trading at $36.21.
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) issued its earnings results on Monday, July, 18th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by $0.02. The financial services provider earned $22.69 billion during the quarter, compared to the consensus estimate 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 company's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $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. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.22 per share on Friday, September 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, September 1st. This is an increase 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 share repurchase plan on Thursday, April 15th 2021, which authorizes the company to buyback $25,000,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is 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 number of institutional and retail investors. Top institutional investors 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 $36.21.

How much money does Bank of America make?

Bank of America (NYSE:BAC) has a market capitalization of $290.96 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 8/15/2022 by MarketBeat.com Staff

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