Bank of America Corporation (BAC)
- Previous Close
37.73 - Open
37.94 - Bid 38.22 x 1300
- Ask 38.23 x 2900
- Day's Range
37.83 - 38.30 - 52 Week Range
24.96 - 38.35 - Volume
9,719,267 - Avg. Volume
41,028,796 - Market Cap (intraday)
300.939B - Beta (5Y Monthly) 1.39
- PE Ratio (TTM)
13.19 - EPS (TTM)
2.90 - Earnings Date Jul 16, 2024
- Forward Dividend & Yield 0.96 (2.54%)
- Ex-Dividend Date Feb 29, 2024
- 1y Target Est
36.94
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. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, non-interest and interest-bearing checking accounts, and investment accounts and products; credit and debit cards; residential mortgages, and home equity loans; and direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The GWIM segment provides investment management, brokerage, banking, and trust and retirement products and services; wealth management solutions; and customized solutions, including specialty asset management services. The Global Banking segment offers 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, short-term investing options, and merchant services; working capital management solutions; debt and equity underwriting and distribution, and merger-related and other advisory services; and fixed-income and equity research, and certain market-based services. The Global Markets segment provides market-making, financing, securities clearing, settlement, and custody services; securities and derivative products; and risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1784 and is based in Charlotte, North Carolina.
www.bankofamerica.com212,335
Full Time Employees
December 31
Fiscal Year Ends
Sector
Industry
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Trailing total returns as of 4/23/2024, which may include dividends or other distributions. Benchmark is .
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Statistics: BAC
Valuation Measures
Market Cap
296.82B
Enterprise Value
--
Trailing P/E
13.01
Forward P/E
11.61
PEG Ratio (5yr expected)
3.87
Price/Sales (ttm)
3.09
Price/Book (mrq)
1.12
Enterprise Value/Revenue
--
Enterprise Value/EBITDA
--
Financial Highlights
Profitability and Income Statement
Profit Margin
26.81%
Return on Assets (ttm)
0.77%
Return on Equity (ttm)
8.72%
Revenue (ttm)
93.36B
Net Income Avi to Common (ttm)
23.35B
Diluted EPS (ttm)
2.90
Balance Sheet and Cash Flow
Total Cash (mrq)
991.76B
Total Debt/Equity (mrq)
--
Levered Free Cash Flow (ttm)
--
Research Analysis: BAC
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The cold hard message is sinking in. Higher rates are here to stay for longer than expected. Federal Reserve Chairman Jerome Powell has said multiple times that the Fed will be 'data-driven' when deciding on monetary policy. And the data has spoken. First, let's look at inflation. There has been great progress made in knocking inflation down from its peak of 9.1% in June of 2022. But achieving progress at the current lower levels, with inflation in the low-3% range, as expected, has been difficult. The Fed has been specific, saying inflation needs to be at 2% before restrictive policy will be eased. The Fed was patient after the January inflation data, and again with February data. But when March showed persistently higher prices, the Fed threw came right out and said that change can wait. Chairman Powell said the following last week. "The recent data have clearly not given us greater confidence..." and "If higher inflation does persist, we can maintain the current level of restriction for as long as needed." Now let's consider unemployment. The Fed again has been specific. Officials are looking for a 4.1% unemployment rate to gently (hopefully) slow the economy. Currently, the rate is not budging and is vacillating between 3.8% and 3.9%. Given the current macroeconomic backdrop, the following is a list of industries and companies we like that should benefit from a sustained period of higher interest rates. All are BUY-rated at Argus.
Analyst Report: Bank of America Corporation
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
RatingPrice TargetAnalyst Report: Bank of America Corporation
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
RatingPrice TargetAnalyst Report: Bank Of America Corp.
Bank of America is one of the largest financial companies in the world. The company is primarily a U.S. retail and commercial bank, with a network of more than 4,000 branches across much of the country. The 2005 acquisition of MBNA made Bank of America the nation's largest credit-card lender. As such, trends in consumer interest rates, employment, income growth and borrowing patterns represent a significant risk to the company's earnings. The 2008 acquisition of Countrywide made BofA the country's largest mortgage company as well. BofA became a top-tier securities firm and retail broker with the acquisition of Merrill Lynch.
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