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NYSE:BAC

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

Bank of America logo
$46.54 +0.48 (+1.04%)
(As of 11/21/2024 ET)

About Bank of America Stock (NYSE:BAC)

Key Stats

Today's Range
$46.30
$47.05
50-Day Range
$38.65
$46.75
52-Week Range
$29.32
$47.05
Volume
33.93 million shs
Average Volume
38.63 million shs
Market Capitalization
$357.13 billion
P/E Ratio
16.93
Dividend Yield
2.23%
Price Target
$44.26
Consensus Rating
Moderate Buy

Company Overview

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.

Bank of America Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
96th Percentile Overall Score

BAC MarketRank™: 

Bank of America scored higher than 96% of companies evaluated by MarketBeat, and ranked 39th out of 916 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Bank of America has received a consensus rating of Moderate Buy. The company's average rating score is 2.65, and is based on 14 buy ratings, 7 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Bank of America has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Bank of America's stock forecast and price target.
  • Earnings Growth

    Earnings for Bank of America are expected to grow by 11.62% in the coming year, from $3.27 to $3.65 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Bank of America is 16.93, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.84.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Bank of America is 16.93, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 38.38.

  • Price to Earnings Growth Ratio

    Bank of America has a PEG Ratio of 1.57. PEG Ratios above 1 indicate that a company could be overvalued.

  • Price to Book Value per Share Ratio

    Bank of America has a P/B Ratio of 1.31. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about Bank of America's valuation and earnings.
  • Percentage of Shares Shorted

    0.83% of the float of Bank of America has been sold short.
  • Short Interest Ratio / Days to Cover

    Bank of America has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Bank of America has recently increased by 5.84%, indicating that investor sentiment is decreasing significantly.
  • Dividend Yield

    Bank of America pays a meaningful dividend of 2.24%, higher than the bottom 25% of all stocks that pay dividends.

  • Dividend Growth

    Bank of America has been increasing its dividend for 11 years.

  • Dividend Coverage

    The dividend payout ratio of Bank of America is 37.82%. This payout ratio is at a healthy, sustainable level, below 75%.

  • Dividend Sustainability

    Based on earnings estimates, Bank of America will have a dividend payout ratio of 28.49% next year. This indicates that Bank of America will be able to sustain or increase its dividend.

  • Read more about Bank of America's dividend.
  • Percentage of Shares Shorted

    0.83% of the float of Bank of America has been sold short.
  • Short Interest Ratio / Days to Cover

    Bank of America has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Bank of America has recently increased by 5.84%, indicating that investor sentiment is decreasing significantly.
  • News Sentiment

    Bank of America has a news sentiment score of 1.14. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.78 average news sentiment score of Finance companies.
  • News Coverage This Week

    MarketBeat has tracked 80 news articles for Bank of America this week, compared to 32 articles on an average week.
  • Search Interest

    Only 122 people have searched for BAC on MarketBeat in the last 30 days. This is a decrease of -4% compared to the previous 30 days.
  • MarketBeat Follows

    53 people have added Bank of America to their MarketBeat watchlist in the last 30 days. This is an increase of 4% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Bank of America insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $4,145,103,288.00 in company stock.

  • Percentage Held by Insiders

    Only 0.29% of the stock of Bank of America is held by insiders.

  • Percentage Held by Institutions

    70.71% of the stock of Bank of America is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Bank of America's insider trading history.
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BAC Stock News Headlines

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BAC Stock Analysis - Frequently Asked Questions

Bank of America's stock was trading at $33.67 at the start of the year. Since then, BAC shares have increased by 38.2% and is now trading at $46.5450.
View the best growth stocks for 2024 here
.

Bank of America Co. (NYSE:BAC) issued its quarterly earnings data on Tuesday, October, 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.03. The business's quarterly revenue was up .4% on a year-over-year basis.
Read the conference call transcript
.

Bank of America's board initiated a share buyback plan on Wednesday, July 24th 2024, which allows the company to repurchase $25,000,000,000 in outstanding shares, according to EventVestor. This means that the company could reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

The following companies are subsidiaries of Bank of America: Merrill Lynch, Countrywide Financial Corporation, Catahoula-LaSalle Bank, U.S. Trust Company of Delaware, HealthLogic Systems, MBNA, National Processing, and more.

Top institutional investors of Bank of America include Berkshire Hathaway Inc (10.40%), Geode Capital Management LLC (1.83%), Fisher Asset Management LLC (0.59%) and Charles Schwab Investment Management Inc. (0.56%). Insiders that own company stock include Berkshire Hathaway Inc, Dean C Athanasia, Matthew M Koder, James P Demare, Bernard A Mensah, Lindsay D Hans, Of America Corp /De/ Bank and Andrew M Sieg.
View institutional ownership trends
.

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.

Based on aggregate information from My MarketBeat watchlists, some other companies that Bank of America investors own include Salesforce (CRM), Chevron (CVX), Home Depot (HD), Bristol-Myers Squibb (BMY), Johnson & Johnson (JNJ), Coca-Cola (KO) and Citigroup (C).

Company Calendar

Ex-Dividend for 9/27 Dividend
9/06/2024
Dividend Payable
9/27/2024
Last Earnings
10/15/2024
Today
11/22/2024
Ex-Dividend for 12/27 Dividend
12/06/2024
Dividend Payable
12/27/2024
Fiscal Year End
12/31/2024
Next Earnings (Estimated)
1/10/2025

Industry, Sector and Symbol

Sector
Finance
Industry
National commercial banks
Sub-Industry
Banking
Employees
213,000
Year Founded
1998

Price Target and Rating

Average Stock Price Target
$44.26
High Stock Price Target
$56.00
Low Stock Price Target
$33.00
Potential Upside/Downside
-4.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.65
Research Coverage
23 Analysts

Profitability

Net Income
$26.52 billion
Pretax Margin
13.36%

Debt

Sales & Book Value

Annual Sales
$98.50 billion
Cash Flow
$3.92 per share
Book Value
$35.44 per share

Miscellaneous

Outstanding Shares
7,672,879,000
Free Float
7,650,628,000
Market Cap
$357.13 billion
Optionable
Optionable
Beta
1.32

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This page (NYSE:BAC) was last updated on 11/22/2024 by MarketBeat.com Staff
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