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NYSE:BAC

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

$40.00
+0.49 (+1.24%)
(As of 06/18/2024 ET)
Today's Range
$39.47
$40.02
50-Day Range
$34.68
$40.02
52-Week Range
$24.96
$40.19
Volume
30.80 million shs
Average Volume
38.82 million shs
Market Capitalization
$312.81 billion
P/E Ratio
13.84
Dividend Yield
2.40%
Price Target
$39.79

Bank of America MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.56 Rating Score
Upside/​Downside
0.5% Downside
$39.79 Price Target
Short Interest
Healthy
0.93% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.70mentions of Bank of America in the last 14 days
Based on 26 Articles This Week
Insider Trading
Selling Shares
$17,424 Sold Last Quarter
Proj. Earnings Growth
9.97%
From $3.21 to $3.53 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.

4.45 out of 5 stars

Finance Sector

217th out of 872 stocks

National Commercial Banks Industry

35th out of 84 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

Bank of America logo on building
3 Stocks with Unusual Call Option Activity and High Buying Volume
When traders decide to bet on stock options rather than lay their capital into buying straight shares, investors must notice two main implications of trading options rather than shares. First, options have an expiration date and a strike price, meaning whoever buys an option needs to get the direction (and magnitude of a move) and the timing right in the trade.
Bank of America logo on building
3 Stocks with Unusual Call Option Activity and High Buying Volume (BAC)
Three stocks reported higher than usual call option buying activity, meaning that there are bets on short-term rises probably due to these fundamental reasons.
[Urgent] Protect your money before November
Those who listened to his warnings could have kept their money safe and even made substantial profits during each crisis. In fact, the Wall Street Journal reported that his work was more accurate … and more profitable than that of … Deutsche Bank … Merrill Lynch … JPMorgan Chase … Goldman Sachs … and every other firm reviewed.
A pair of Bank of America-Merrill Lynch specialists work at their post on the floor of the New York…
Merrill Lynch agrees to pay nearly $20 million to settle class action racial discrimination lawsuit
Merrill Lynch has agreed to pay nearly $20 million to settle a class-action lawsuit that accuses the Wall Street brokerage giant of racially discriminating against its Black financial advisers
Supreme Court is seen on Capitol Hill in Washington, Monday, October 23, 2023
Supreme Court gives homeowners another chance in escrow dispute with Bank of America
The Supreme Court has given homeowners another chance to force Bank of America and other large banks to pay interest on mortgage escrow accounts
A currency trader walks by the screen showing the foreign exchange rate between U
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
[Urgent] Protect your money before November
Those who listened to his warnings could have kept their money safe and even made substantial profits during each crisis. In fact, the Wall Street Journal reported that his work was more accurate … and more profitable than that of … Deutsche Bank … Merrill Lynch … JPMorgan Chase … Goldman Sachs … and every other firm reviewed.
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Bank of America (NYSE:BAC) Shares Down 0.7%
Bank Of America: Swap A 5.6% Yield For A 6.1% Yield
Bank of America (NYSE:BAC) Stock Price Down 0.1%
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
Ex-Dividend for 6/28 Dividend
6/07/2024
Today
6/18/2024
Dividend Payable
6/28/2024
Next Earnings (Confirmed)
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
$39.79
High Stock Price Target
$46.00
Low Stock Price Target
$33.00
Potential Upside/Downside
-0.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.56
Research Coverage
18 Analysts

Profitability

Net Income
$26.52 billion
Pretax Margin
14.77%

Debt

Sales & Book Value

Annual Sales
$171.91 billion
Cash Flow
$3.99 per share
Book Value
$33.26 per share

Miscellaneous

Outstanding Shares
7,820,370,000
Free Float
7,797,692,000
Market Cap
$312.81 billion
Optionable
Optionable
Beta
1.36

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Should I Buy Bank of America Stock? BAC Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Bank of America:

  • Bank of America has consistently increased its quarterly dividend, providing investors with a steady income stream. The current dividend yield of 2.48% is attractive compared to other investment options.
  • Analysts have given Bank of America a consensus rating of "Hold" with a consensus price target of $38.70, indicating potential for growth in the stock price.
  • Recent analyst upgrades, such as raising the price target and giving an "outperform" rating, suggest positive sentiment towards the company's future performance.
  • Bank of America reported strong quarterly earnings, beating analyst estimates and demonstrating financial stability and growth potential.
  • The company operates in diverse segments, including Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets, providing a broad exposure to different sectors of the economy.

Cons

Investors should be bearish about investing in Bank of America for these reasons:

  • Some analysts have given Bank of America a sell rating, indicating concerns about the company's performance or valuation.
  • The stock price of Bank of America may be influenced by market volatility and economic uncertainties, impacting short-term returns for investors.
  • While the company has shown growth potential, competition in the banking and financial services industry remains intense, posing challenges for sustained profitability.
  • Bank of America's revenue for the quarter was down 1.7% on a year-over-year basis, signaling a potential slowdown in growth compared to previous periods.
  • Investors should consider the overall economic conditions and interest rate environment, as these factors can affect the performance of financial institutions like Bank of America.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, June 4, 2024. Please send any questions or comments about these Bank of America pros and cons to contact@marketbeat.com.

BAC Stock Analysis - 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 1 sell rating, 6 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street 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 brokerages have issued 1 year price objectives for Bank of America's shares. Their BAC share price targets range from $33.00 to $46.00. On average, they anticipate the company's stock price to reach $39.79 in the next year. This suggests that the stock has a possible downside of 0.5%.
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 at the beginning of 2024. Since then, BAC stock has increased by 18.8% and is now trading at $40.00.
View the best growth stocks for 2024 here
.

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

Bank of America will be holding an earnings conference call on Tuesday, July 16th at 8:30 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) posted its quarterly earnings results on Tuesday, April, 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The financial services provider earned $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a trailing twelve-month return on equity of 10.88%. The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm 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 announced a quarterly dividend on Thursday, April 25th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.24 per share on Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.40%. 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 2.45%. 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 27.20% 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 institutional and retail 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 6/19/2024 by MarketBeat.com Staff

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