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NYSE:BAC

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

$37.79
-0.02 (-0.05%)
(As of 01:28 PM ET)
Today's Range
$37.42
$37.90
50-Day Range
$31.73
$37.51
52-Week Range
$24.96
$37.90
Volume
20.11 million shs
Average Volume
40.76 million shs
Market Capitalization
$298.19 billion
P/E Ratio
12.31
Dividend Yield
2.54%
Price Target
$35.65

Bank of America MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.60 Rating Score
Upside/​Downside
4.5% Downside
$36.15 Price Target
Short Interest
Healthy
0.86% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.50
Upright™ Environmental Score
News Sentiment
0.63mentions of Bank of America in the last 14 days
Based on 43 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
9.00%
From $3.11 to $3.39 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.

4.53 out of 5 stars

Finance Sector

85th out of 858 stocks

National Commercial Banks Industry

13th 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

3 Value Stocks Too Small For Buffett's Portfolio
When investment giants like Warren Buffett spot the rare opportunity to buy a value stock, they more than often pass on the chance. Because they manage such large amounts of capital, investing less than a few billion in companies isn't big enough to bring them returns.
3 Value Stocks Too Small For Buffett’s Portfolio (BAC)
Three stocks stand out as value plays that are just too small for Warren Buffett to buy, that is where the retail investor has an advantage to be taken today
SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
Low VIX? 3 High Beta Stocks To Boost Your Returns (BAC)
A low VIX typically makes high beta stocks more attractive for investors looking at beating the indexes. Three stocks stand out tied to macro tailwinds
Tencent Is Looking to Fill Nvidia’s Gap in China’s Chip Market
Tencent is looking to fill a potential $7 billion gap left by Nvidia's banishment from China's A.I. market, Wall Street sees triple-digit upside now
MarketBeat Week in Review – 3/18 – 3/22 (BAC)
Investors took a breather after the Fed-induced rally and before a shortened trading week that will include plenty of economic reports that could move markets
Growing Twice as Fast as Tesla, XPeng is a Buy (BAC)
Can XPeng stock lead the way this time? Wall Street analysts and institutions believe it will, right on time for a potential earnings beat this week.
FedEx Stock Has Analysts Upgrading in Bulk, a Sudden Discount (BAC)
FedEx stock is now a Wall Street favorite with double-digit upside despite its size. All leading indicators point to a new rally in the stock coming soon.
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SoFi Presents Another Entry Opportunity for Investors (BAC)
Fintech provider SoFi Technologies Inc. (NASDAQ: SOFI) is a one-stop shop for financial services conveniently accessible around the clock through
Sentinel One Stock Is the Growth Story Goldman Sachs Is Buying (BAC)
Goldman Sachs has SentinelOne as a top pick for the coming months, and one last-minute buyer placed a multi-million dollar bet just before earnings are out
30 Tallest Buildings in the US in 2024
3 Cheap Bank Stocks You'll Regret Not Buying in 2024
See More Headlines
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Company Calendar

Ex-Dividend for 12/29 Dividend
11/30/2023
Dividend Payable
12/29/2023
Last Earnings
1/12/2024
Ex-Dividend for 3/29 Dividend
2/29/2024
Today
3/28/2024
Dividend Payable
3/29/2024
Next Earnings (Confirmed)
4/16/2024
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
$35.65
High Stock Price Target
$46.00
Low Stock Price Target
$27.50
Potential Upside/Downside
-5.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.60
Research Coverage
15 Analysts

Profitability

Net Income
$26.52 billion
Pretax Margin
16.49%

Debt

Sales & Book Value

Annual Sales
$171.91 billion
Cash Flow
$4.02 per share
Book Value
$33.26 per share

Miscellaneous

Outstanding Shares
7,890,640,000
Free Float
7,867,756,000
Market Cap
$298.50 billion
Optionable
Optionable
Beta
1.38

Social Links

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

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Bank of America was last updated on Tuesday, March 26, 2024 at 12:14 AM.

Pros

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

  • Bank of America has shown consistent growth in institutional investments, indicating confidence from large investors.
  • Recent analyst ratings upgrades and price target increases suggest positive sentiment towards the company's performance.
  • The company's quarterly earnings report exceeded analyst expectations, showcasing strong financial performance.
  • Bank of America offers a dividend with a competitive yield, providing potential income for investors.
  • The stock price has been trading at a relatively stable level, indicating a favorable market perception.

Cons

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

  • Some analysts have issued sell ratings on the stock, indicating potential concerns about future performance.
  • Market analysts have lowered price targets for Bank of America, suggesting a cautious outlook on the stock.
  • The company's revenue in the latest quarter was below analyst estimates, raising questions about growth prospects.
  • Bank of America's revenue declined compared to the previous year, signaling potential challenges in the business environment.
  • The company's debt-to-equity ratio is relatively high, which may pose risks in times of economic uncertainty.

BAC Stock Analysis - Frequently Asked Questions

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

15 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, 5 hold ratings and 9 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?

15 Wall Street research analysts have issued 1-year price targets for Bank of America's stock. Their BAC share price targets range from $27.50 to $46.00. On average, they anticipate the company's stock price to reach $36.15 in the next year. This suggests that the stock has a possible downside of 4.5%.
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 12.4% and is now trading at $37.86.
View the best growth stocks for 2024 here
.

Are investors shorting Bank of America?

Bank of America saw a increase in short interest in the month of March. As of March 15th, there was short interest totaling 67,790,000 shares, an increase of 7.6% from the February 29th total of 63,000,000 shares. Based on an average daily volume of 39,990,000 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the company's shares are sold short.
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, April 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, April 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 data on Friday, January, 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The financial services provider had revenue of $22 billion for the quarter, compared to analyst estimates of $23.70 billion. Bank of America had a net margin of 15.42% and a trailing twelve-month return on equity of 11.38%. Bank of America's quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 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 Wednesday, January 31st. Shareholders of record on Friday, March 1st will be paid a dividend of $0.24 per share on Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, February 29th.
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 2.59%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 31.27%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 28.32% 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 shareholders include Vanguard Group Inc. (7.73%), Vanguard Group Inc. (7.69%), Norges Bank (1.40%), Price T Rowe Associates Inc. MD (1.31%), Dodge & Cox (0.84%) and Legal & General Group Plc (0.72%). 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.
Read More
This page (NYSE:BAC) was last updated on 3/28/2024 by MarketBeat.com Staff

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