S&P 500   3,852.36
DOW   32,920.46
QQQ   306.18
MarketBeat Week in Review – 1/30 - 2/3
Cash Holders STILL Aren't Taking Steps to Prepare (Ad)
State of the Union: Biden sees economic glow, GOP sees gloom
Why a new Alzheimer's drug is having a slow US debut
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Sri Lanka marks independence anniversary amid economic woes
Tesla hikes price of Model Y after US alters tax credit rule
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Disney World unions vote down offer covering 45,000 workers
This 11% Dividend Stock Has 11%+ Upside, Too
S&P 500   3,852.36
DOW   32,920.46
QQQ   306.18
MarketBeat Week in Review – 1/30 - 2/3
Cash Holders STILL Aren't Taking Steps to Prepare (Ad)
State of the Union: Biden sees economic glow, GOP sees gloom
Why a new Alzheimer's drug is having a slow US debut
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Sri Lanka marks independence anniversary amid economic woes
Tesla hikes price of Model Y after US alters tax credit rule
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Disney World unions vote down offer covering 45,000 workers
This 11% Dividend Stock Has 11%+ Upside, Too
S&P 500   3,852.36
DOW   32,920.46
QQQ   306.18
MarketBeat Week in Review – 1/30 - 2/3
Cash Holders STILL Aren't Taking Steps to Prepare (Ad)
State of the Union: Biden sees economic glow, GOP sees gloom
Why a new Alzheimer's drug is having a slow US debut
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Sri Lanka marks independence anniversary amid economic woes
Tesla hikes price of Model Y after US alters tax credit rule
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Disney World unions vote down offer covering 45,000 workers
This 11% Dividend Stock Has 11%+ Upside, Too
S&P 500   3,852.36
DOW   32,920.46
QQQ   306.18
MarketBeat Week in Review – 1/30 - 2/3
Cash Holders STILL Aren't Taking Steps to Prepare (Ad)
State of the Union: Biden sees economic glow, GOP sees gloom
Why a new Alzheimer's drug is having a slow US debut
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Sri Lanka marks independence anniversary amid economic woes
Tesla hikes price of Model Y after US alters tax credit rule
“Future Fuel” will unleash $11 trillion wave of wealth (Ad)
Disney World unions vote down offer covering 45,000 workers
This 11% Dividend Stock Has 11%+ Upside, Too

Bank of America - BAC Stock Forecast, Price & News

$36.43
+0.30 (+0.83%)
(As of 02/3/2023 12:00 AM ET)
Add
Compare
Today's Range
$35.90
$36.76
50-Day Range
$31.70
$37.85
52-Week Range
$29.31
$50.11
Volume
37.41 million shs
Average Volume
38.80 million shs
Market Capitalization
$292.26 billion
P/E Ratio
11.42
Dividend Yield
2.44%
Price Target
$40.88

Bank of America MarketRank™ Forecast

Analyst Rating
Hold
2.43 Rating Score
Upside/​Downside
12.2% Upside
$40.88 Price Target
Short Interest
Healthy
0.57% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
-0.05mentions of Bank of America in the last 14 days
Based on 31 Articles This Week
Insider Trading
Selling Shares
$95,000 Sold Last Quarter
Proj. Earnings Growth
5.48%
From $3.47 to $3.66 Per Share

Overall MarketRank

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

2.89 out of 5 stars

Finance Sector

49th out of 858 stocks

National Commercial Banks Industry

5th out of 83 stocks

BAC stock logo

About Bank of America (NYSE:BAC) Stock

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.

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BAC Stock News Headlines

Lucid Group's Buyout Rumors Continue (BAC)
Lucid Group's stock price shot up over takeover rumors and what looked like a short squeeze. Now shorts have come back for revenge.
Capital One Stock: Will Subprime Borrowers Spoil the Rally? (BAC)
Financial services holding company Capital One Financial Co. (NYSE: COF) stock has been hit due to its exposure to subprime borrowers. As the economy contracts
“Future Fuel” will unleash $11 trillion wave of wealth
The next major energy revolution is unfolding right now. And it could hand early investors as much as 46,700% gains…
AMD Is Still One Of The Best Semiconductor Stocks Out There (BAC)
AMD is a semiconductor stock that’s gotten off to a great start, and there are several signs that this will continue into the rest of the quarter.
Federal Reserve and the markets in standoff on rate hikes
Sooner or later, either Wall Street or the Federal Reserve has to blink
Should You Add These Warren Buffett Stocks to Your Portfolio? (BAC)
Buffett's stock picks have earned him a billions of dollars and legendary reputation — here are three you can't afford to miss.
JPMorgan Chase Falls As Banks Brace For Recession  (BAC)
JPMorgan Chase (NYSE: JPM) stock and the banks are moving lower after strong results and weak outlook cut into the expectation for 2023 earnings.
“Future Fuel” will unleash $11 trillion wave of wealth
The next major energy revolution is unfolding right now. And it could hand early investors as much as 46,700% gains…
Bank of America Cut CEO Brian Moynihan’s Pay 6% in 2022
Atlantic Securities Lowers Bank of America (NYSE:BAC) to Neutral
Bank of America: Likely to Emerge Bullish Tone
See More Headlines
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BAC Company Calendar

Ex-Dividend for 12/30 Dividend
12/01/2022
Dividend Payable
12/30/2022
Last Earnings
1/13/2023
Today
2/05/2023
Ex-Dividend for 3/31 Dividend
3/02/2023
Dividend Payable
3/31/2023
Next Earnings (Estimated)
4/17/2023
Fiscal Year End
12/31/2023

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
$40.88
High Stock Price Forecast
$55.00
Low Stock Price Forecast
$33.00
Forecasted Upside/Downside
+12.2%
Consensus Rating
Hold
Rating Score (0-4)
2.43
Research Coverage
14 Analysts

Profitability

Net Income
$27.53 billion
Pretax Margin
26.92%

Debt

Sales & Book Value

Annual Sales
$94.95 billion
Cash Flow
$4.89 per share
Book Value
$30.51 per share

Miscellaneous

Outstanding Shares
8,022,432,000
Free Float
8,001,574,000
Market Cap
$292.26 billion
Optionable
Optionable
Beta
1.38

Social Links


Key Executives

  • Brian T. Moynihan
    Chairman, President & Chief Executive Officer
  • Frick Bob
    ice Chair of the Board & Chief Financial Officer
  • Catherine P. Bessant
    Vice Chairman-Global Strategy
  • Alastair Borthwick
    Chief Financial Officer
  • Aditya Bhasin
    Chief Technology & Information Officer













BAC Stock - Frequently Asked Questions

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

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last year. There are currently 1 sell rating, 6 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street 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 forecast for 2023?

14 analysts have issued 1-year price targets for Bank of America's shares. Their BAC share price forecasts range from $33.00 to $55.00. On average, they expect the company's share price to reach $40.88 in the next year. This suggests a possible upside of 12.2% 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 on January 1st, 2023. Since then, BAC shares have increased by 10.0% and is now trading at $36.43.
View the best growth stocks for 2023 here
.

Are investors shorting Bank of America?

Bank of America saw a decline in short interest during the month of January. As of January 15th, there was short interest totaling 45,280,000 shares, a decline of 20.2% from the December 31st total of 56,750,000 shares. Based on an average trading volume of 39,280,000 shares, the short-interest ratio is currently 1.2 days. Currently, 0.6% 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 Monday, April 17th 2023.
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 Friday, January, 13th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. The financial services provider earned $24.50 billion during the quarter, compared to analysts' expectations of $24.17 billion. Bank of America had a trailing twelve-month return on equity of 11.41% and a net margin of 23.93%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 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, February 1st. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.22 per share on Friday, March 31st. This represents a $0.88 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, March 2nd.
Read our dividend analysis for BAC
.

Is Bank of America a good dividend stock?

Bank of America (NYSE:BAC) pays an annual dividend of $0.88 per share and currently has a dividend yield of 2.44%. 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 27.59%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 24.04% 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 announced that its board has initiated a stock repurchase program on Thursday, April 15th 2021, which allows the company to buyback $25,000,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management 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 retail and institutional investors. Top institutional shareholders include Parnassus Investments LLC (0.35%), Fisher Asset Management LLC (0.28%), Sumitomo Mitsui Trust Holdings Inc. (0.26%), Assenagon Asset Management S.A. (0.00%), Pzena Investment Management LLC (0.11%) and New York State Teachers Retirement System (0.10%). Insiders that own company stock include Andrew M Sieg, Berkshire Hathaway Inc, Dean C Athanasia, Frank P Bramble, 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 $36.43.

How much money does Bank of America make?

Bank of America (NYSE:BAC) has a market capitalization of $292.26 billion and generates $94.95 billion in revenue each year. The financial services provider earns $27.53 billion in net income (profit) each year or $3.19 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
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 2/5/2023 by MarketBeat.com Staff