BAC - Bank of America Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
28.55
-0.08 (-0.26%)
As of 2:28PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close28.62
Open28.70
Bid28.67 x 28000
Ask28.68 x 800
Day's Range28.54 - 28.97
52 Week Range22.66 - 31.91
Volume36,864,118
Avg. Volume54,135,389
Market Cap271.412B
Beta (3Y Monthly)1.66
PE Ratio (TTM)10.61
EPS (TTM)2.69
Earnings DateJul 17, 2019
Forward Dividend & Yield0.60 (2.10%)
Ex-Dividend Date2019-06-06
1y Target Est33.50
Trade prices are not sourced from all markets
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    InvestorPlace6 hours ago

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    [Editor's note: This story was previously published in February 2019. It has since been updated and republished.]Investing to "buy and hold" is trickier than it looks. The increasing pace of technological change means even the most successful, dominant companies have to continually adapt to keep up. Industries like energy, real estate and even consumer products are facing potentially significant long-term changes going forward. In any era, amassing a collection of retirement stocks simply by buying the best companies and holding them for years can be a risky endeavor.General Motors (NYSE:GM) was a classic "widows and orphans" stock until last decade, when GM wound up going bankrupt. United States Steel (NYSE:X) once was a pillar of corporate America and a buy-and-hold stock. GM shares basically haven't moved in a quarter of a century. Polaroid and Eastman Kodak were once blue-chip stocks. Both went bankrupt as cameras changed from film to digital.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut there still are stocks to buy and hold out there that can last forever, while offering dividend income along the way. * 7 Value Stocks to Buy for the Second Half Here are ten such retirement stocks to buy and hold forever.Source: Shutterstock Bank of America (BAC)Dividend Yield: 2.1%It might seem strange to open the list with Bank of America (NYSE:BAC). After all, we're only a bit more than a decade on from the financial crisis. During that crisis, BofA acquisition Countrywide Financial blew up in spectacular fashion, after pioneering many of the risky tactics that led to the bubble and subsequent bust.But this is a different BofA.Net consumer charge-offs hit a decade-long low last year. Its performance on credit metrics is strong. Government regulations have been criticized as slowing growth -- but they've undoubtedly lowered risk as well, even if observers might argue that a better balance is needed.No less than Warren Buffett is now BofA's largest shareholder, through his Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B). And the Oracle of Omaha is fond of saying that his favorite holding period is "forever."That seems likely true for BAC stock as well.Source: Mustafa Khayat Via Flickr Diageo (DEO)Dividend Yield: 2%Change has come to the alcohol industry, with the number of breweries exploding worldwide and new distilleries popping up as well. The brands owned by Diageo (NYSE:DEO) are well-positioned to adapt to shifting tastes.Diageo owns classic brands like Johnnie Walker whisky, Tanqueray gin, Smirnoff vodka, and Harp and Guinness beer, among many others. What most have in common is a timeless quality and worldwide brand recognition. As a result, while beverage giants like Coca-Cola (NYSE:KO) and Anheuser Busch InBev (NYSE:BUD) have struggled with earnings growth, Diageo grew net income by 13.5% in fiscal 2018 and expects consistent growth going forward. * 7 Value Stocks to Buy for the Second Half Yet with a trailing multiple of 26.5, and with a dividend yield of 2%, Diageo stock isn't all that dearly valued. Long-term investors would do well to own DEO and perhaps use the dividends to buy a bottle or two of fine whisky.Source: U.S. Embassy Kyiv Ukraine via Flickr (Modified) Medtronic (MDT)Dividend Yield: 2%In this day and age, the U.S. healthcare market in particular seems potentially volatile. Concerns about increased spending and political battles over the Affordable Care Act create more questions than answers.But even with that uncertainty, Medtronic (NYSE:MDT) isn't going anywhere. The company's devices are an integral part of modern medicine, ranging from pacemakers to stents to bone grafts to imaging systems.Even the risks involved in the sector look priced into MDT. Medtronic's days of double-digit annual growth may well be behind it, but it's not finished increasing earnings or dividends. MDT stock likely isn't finished rising, either.Source: Shutterstock NextEra Energy (NEE)Dividend Yield: 2.4%Utility stocks are among the most common safe, buy-and-hold stocks. NextEra Energy (NYSE:NEE) is now the largest electric utility in the U.S. by market capitalization. That might actually be the only problem with NEE stock.NextEra shares gained 18% year-to-date, and trades just off record highs. Potential valuation concerns aside, NextEra looks like a winner. It serves customers in the southern Florida region, still one of the nation's fastest-growing areas. A 22.6 forward P/E multiple is high for the space but not outlandishly so. And a 2.4% dividend yield provides income along the way. * 7 Dividend Stocks to Buy as the Trade War Reignites Investors looking for value in the space might look for a smaller play like cheaper Dominion Energy (NYSE:D). But it's usually worth paying for quality, and NextEra Energy looks like one of the best utility stocks out there.Source: Blue Genie via Flickr McCormick & CompanyDividend Yield: 1.5%McCormick & Company (NYSE:MKC) is another quality company whose valuation might spook some investors. But MKC stock very rarely is offered cheaply.The company's market leadership in spices and seasonings provides both an impressive moat and protection against economic downturns. MKC stock did dip after the company acquired French's mustard and Frank's RedHot sauce from Reckitt Benckiser (OTCMKTS:RBGLY) at a price that looked a bit high to many investors. But MKC has recovered those gains and then some.Top-line growth for McCormick likely isn't going to be explosive, but it will be steady. The same has been true of MKC stock, which has returned an average of 13% a year over the past decade, including dividends.With continuous cost-cutting initiatives, the contribution from the acquired brands and organic growth (and growth in organic products), MKC still should be able to provide double-digit annual returns going forward as well.Source: Shutterstock Allstate CorpDividend Yield: 2%Allstate Corp (NYSE:ALL) long has used the tagline, "You're in good hands," and it's true for Allstate investors as well. ALL stock has almost quadrupled from late-2011 lows. 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Acquisitions and a growing cosmetic additive business both provide room for growth.Consumers may not know IFF, but investors should.Source: Shutterstock Lamb WestonDividend Yield: 1.4%Lamb Weston (NYSE:LW) was spun off from Conagra Brands (NYSE:CAG) last year. Lamb Weston is the No. 1 potato producer in the United States. In fact, it manufactures the well-known fries at McDonald's (NYSE:MCD), among other restaurant chains.Lamb Weston also has a consumer business (including a small segment that manufactures frozen vegetables), while serving restaurants of all sizes. Health concerns might seem a long-term headwind against the business, but growth has been steady for years, and margins continue to improve.LW is targeting international markets for growth, as French fries have much more limited penetration, while international audiences generally are intrigued by Americanized products.Despite growth and leading market share, LW stock isn't particularly cheap, trading at about 19 times next year's earnings. The company did pick up a fair amount of debt in the CAG spinoff. But it's paying that debt down, which should lower interest expense and boost cash flow going forward. * 7 Value Stocks to Buy for the Second Half With many similar stocks trading at much higher multiples, LW seems to have room for upside. And international growth should offset any health-related concerns in the U.S., should they arise. America's love affair with French fries isn't going to suddenly end, and that should ensure years of stability for Lamb Weston at least.Source: Shutterstock Fortune Brands (FBHS)Dividend Yield: 1.6%Investors are commonly advised to diversify their portfolio. Fortune Brands Home & Security (NYSE:FBHS) has done just that. The company operates in four segments: Cabinets, Plumbing, Doors, and Security. Among its well-known brands are Moen in plumbing, and MasterLock in security.FBHS is more of a cyclical stock than most on this list, and the company no doubt has benefited from the steady, if slow, housing recovery in the U.S. But the company's products also generate relatively stable replacement demand, and a 1.6% dividend yield provides modest, but growing, income.Fortune Brands has been an impressive company since its founding and a solid stock since its 2011 IPO. There may be a bit more volatility here, but that's a worthwhile price to pay for long-term investors. There's enough value in Fortune Brands to ride out any market jitters.Source: Shutterstock Republic ServicesDividend Yield: 1.74%Republic Services (NYSE:RSG) is a bit smaller and likely a lot less well-known than rival Waste Management (NYSE:WM). But in this case, that's not necessarily a bad thing.Republic Services has outgrown its larger competitor in both sales and earnings over the past five years. RSG stock has modestly outperformed WM over the same period as well. Investors appear to believe that will continue, as Republic Services is valued a bit higher than Waste Management, at least based on forward earnings multiples.Both RSG and WM are solid long-term plays. Contracted revenue and steady demand should support both companies for years to come. There's room for further acquisitions in a relatively fragmented space. 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  • Markityesterday

    See what the IHS Markit Score report has to say about Bank of America Corp.

    Bank of America Corp NYSE:BACView full report here! Summary * Perception of the company's creditworthiness is neutral * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for BAC with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting BAC. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding BAC are favorable, with net inflows of $8.44 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. BAC credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

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    Bloomberg6 days ago

    Broadcom Results to Give Clear Insight Into Trade War Impact

    (Bloomberg) -- Wall Street was feeling pretty good about Broadcom Inc. in mid-March as its semiconductor business appeared to be turning the corner and Chief Executive Officer Hock Tan saw “meaningful growth” in the second half of the year.A lot has changed since then.Trade relations between the U.S. and China have soured. One of Broadcom’s biggest customers was banned from buying American components. Spending on data centers has remained sluggish. So the big question on analysts’ minds heading into Thursday’s post-market earnings report is whether Tan’s prediction for the latter part of 2019 remains intact.In the past four weeks, the average analyst estimate for third-quarter revenue fell by about $50 million to $6.1 billion, while expectations for adjusted profit fell by 5 cents to $5.71 a share, according to data compiled by Bloomberg. With the stock down 13% from an April 17 record, some on Wall Street see potential for the stock to rally as expectations have fallen.“We view AVGO shares as attractive ahead of earnings given what appears to be lower expectations and our belief that the company’s longer-term growth and profitability prospects remain solid,” MKM Partners analyst Ruben Roy wrote in a research note on Monday, referring to Broadcom by its ticker symbol.The San Jose, California-based company’s products and global customer base make its results a key indicator for how trade tensions are affecting the semiconductor industry. Almost half of Broadcom’s revenue last year was linked to China. Huawei Technologies Co., which the U.S. government is blacklisting, purchases Broadcom switch chips that are a key component of the Chinese company’s networking gear.Broadcom is also a major supplier of chips to Apple Inc. and recently signed an agreement with the iPhone maker to extend that relationship. Analysts and investors use the chipmaker’s commentary on the wireless market to get a window into demand in the smartphone market.Bank of America analysts led by Vivek Arya reiterated their buy rating on Broadcom on Monday, saying the effects of the Huawei ban and macroeconomic risks are “well expected.”“Key focus will be commentary on second half recovery, cloud capex spending and smartphone unit trends,” they wrote in a research note.Broadcom shares fell as much as 0.8% Thursday. Options prices imply a 6.9% move in the shares after the post-market earnings release, compared with an average 4.5% following the past eight reports, according to data compiled by Bloomberg.Just the Numbers2Q adjusted EPS from continuing operations estimate $5.15 (range $4.73 to $5.46)2Q adjusted net revenue estimate $5.67 billion (range $5.45 billion to $5.91 billion) 2Q adjusted gross margin estimate 70.6% 2Q semiconductor solutions revenue estimate $4.28 billion 2Q infrastructure software revenue estimate $1.36 billion 3Q adjusted net revenue estimate $6.11 billion (range $5.80 billion to $6.30 billion) 3Q adjusted gross margin estimate 69.6% FY adjusted net revenue estimate $24.31 billion (range $23.68 billion to $24.70 billion); forecast $24.5 billionData26 buys, 12 holds, 0 sells Avg PT $320.20 (14.2% upside from current price) Implied 1-day share move following earnings: 7.0% Shares rose after 8 of prior 12 earnings announcements Adjusted EPS beat estimates in 12 of past 12 quarters Quarter dividend BDVD est. $2.65 per share, year ago reported $1.75; next declaration date June 13, 2019 TimingEarnings release expected June 13 after market close Call 5pm (New York time), 866-310-8712 password: 3044229 Conference call website(Updates with today’s trading in ninth paragraph.)To contact the reporters on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net;Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Richard Richtmyer, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.