BAC - Bank of America Corporation

NYSE - NYSE Delayed Price. Currency in USD
29.28
-0.22 (-0.75%)
At close: 4:01PM EDT

29.16 -0.12 (-0.41%)
Pre-market: 5:09AM EDT

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Previous close29.50
Open29.25
Bid28.85 x 1000
Ask29.17 x 900
Day's range28.86 - 29.41
52-week range22.73 - 33.05
Volume105,079,500
Avg. volume67,996,379
Market cap296.882B
Beta1.59
PE ratio (TTM)16.98
EPS (TTM)1.72
Earnings date16 Jul 2018
Forward dividend & yield0.48 (1.61%)
Ex-dividend date2018-05-31
1y target est34.76
Trade prices are not sourced from all markets
  • Financial Timesyesterday

    [$$] Wall St banks sign up to new platform to underpin bond revenues

    , as Wall Street clubs together to maintain its influence on the lucrative market for debt issuance. Underwriting debt is a relatively stable source of billions in annual revenues that could come under threat from tech start-ups and financial data companies investing in the market. Bank of America, Citigroup and JPMorgan have for months been working together to improve what is often a disjointed and labour-intensive process for getting pricing and other information to potential bond investors.

  • The Wall Street Journal3 days ago

    Merrill Considers Lifting Ban on Commission-Based Retirement Accounts

    Merrill Lynch may reverse a ban on commissions in retirement accounts the firm manages, marking a potentially significant retreat for a leading advocate of fee-based accounts. The brokerage arm of Bank of America Corp. banned commissions for retirement accounts in anticipation of the Labor Department’s “fiduciary rule,” which went into effect in April 2016. The regulation was meant to protect retirement savers from conflicted financial advice from brokers seeking commission income.

  • Bank of America picks ex Macron adviser Mourad to run investment banking for France - sources
    Reuters3 days ago

    Bank of America picks ex Macron adviser Mourad to run investment banking for France - sources

    LONDON/PARIS (Reuters) - Bank of America has hired Morgan Stanley veteran Bernard Mourad, who recently worked as an adviser to French President Emmanuel Macron, as its new head of corporate and investment banking for France, three sources familiar with the matter told Reuters. Mourad, who is one of France's most well-connected bankers and made his name advising French telecoms tycoon Patrick Drahi on a string of deals to build his Altice empire, will start his new post in September, two of the sources said.

  • The Wall Street Journal2 days ago

    [$$] Merrill Considers Lifting Ban on Commission-Based Retirement Accounts

    Merrill Lynch may reverse a ban on commissions in retirement accounts the firm manages, marking a potentially significant retreat for a leading advocate of fee-based accounts. The brokerage arm of Bank of America Corp. banned commissions for retirement accounts in anticipation of the Labor Department’s “fiduciary rule,” which went into effect in April 2016. The regulation was meant to protect retirement savers from conflicted financial advice from brokers seeking commission income.

  • Tax software company Avalara nearly doubled in its first day of trading
    CNBC3 days ago

    Tax software company Avalara nearly doubled in its first day of trading

    It's another successful cloud software IPO for the tech sector, following strong debuts for Zuora, Ceridian and Dropbox.

  • How Technology Spending Is Helping Bank of America
    Market Realist3 days ago

    How Technology Spending Is Helping Bank of America

    Bank of America’s (BAC) spending has increased at a far slower pace than its revenues in recent quarters. BAC’s non-interest expenses declined 1.0% to $13.9 billion in the first quarter with an efficiency ratio of 60.0%, which was better than the industry average. The bank’s spending has increased in technology to garner better operating efficiency, penetration, and improved margins.

  • Business Wire3 days ago

    Bank of America Declares Preferred Stock Dividends

    Bank of America Corporation today announced the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L.

  • Bank of America’s Valuations Fair to Low on Growth Expectations
    Market Realist3 days ago

    Bank of America’s Valuations Fair to Low on Growth Expectations

    Bank of America (BAC) stock has risen 2.5% in the last six months and 26.4% in the last year. Bank of America has underperformed in the last month on expectations of lower trading. Bank of America has reported an improved efficiency ratio in recent quarters, helped by operating efficiency on the back of technology spending.

  • BAC’s Lower Taxes, Higher Cash Flows to Allow Distributions
    Market Realist3 days ago

    BAC’s Lower Taxes, Higher Cash Flows to Allow Distributions

    Bank of America (BAC) has enhanced its payouts since the second half of 2017 after it cleared its stress tests and built a strong balance sheet. As the Trump administration has lowered tax rates and operating cash flows have risen due to higher net interest income and non-interest income, bankers (XLF) are looking at higher repurchases to improve return on equity (or RoE). Bank of America is focusing less on an expansion of branch network globally.

  • Julian Robertson says FANG stock valuations are 'cheap' versus the market
    CNBC4 days ago

    Julian Robertson says FANG stock valuations are 'cheap' versus the market

    Julian Robertson believes the top American technology firms are the "greatest companies in the world."

  • What Could Change the Expected Rate Hike Cycle through 2020?
    Market Realist4 days ago

    What Could Change the Expected Rate Hike Cycle through 2020?

    The Fed has provided a fairly clear picture of two more rate hikes in 2018, three rate hikes in 2019, and one in 2020. Investors are anticipating an end to the rate hike cycle by the end of the first quarter of 2020. Rate hikes are subject to an inflation target of 2.1% (revised from 1.9%), the unemployment rate, and continued economic growth.

  • Why Wall Street Is Long on Bank of America amid Slow Credit
    Market Realist4 days ago

    Why Wall Street Is Long on Bank of America amid Slow Credit

    Bank of America (BAC) garnered 22 “buys” or “strong buys” from the 30 analysts covering it in June. Seven recommended “hold” ratings, and one analyst has given a “sell” rating. Bank of America’s mean price target is $34.76 per share, implying a rise of 15.8% over the next 12 months.

  • Bank of America’s Consumer Banking Rides on Interest Income
    Market Realist4 days ago

    Bank of America’s Consumer Banking Rides on Interest Income

    The Fed’s hawkish monetary policy has benefited US commercial banks (XLF) since December 2015. This policy has allowed these banks to garner improving net interest margins (or NIMs). The rate hike cycle is in line with the Federal Reserve targeting three rate hikes in 2018. As yield curves have flattened out, the cycle might end sooner than expected, possibly in 2019.

  • GlobeNewswire4 days ago

    Consolidated Research: 2018 Summary Expectations for Humana, DexCom, Royal Dutch Shell, First Connecticut, Bank of America, and Equifax — Fundamental Analysis, Key Performance Indications

    NEW YORK, June 14, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Humana ...

  • Why Global Reach Could Be a Profitable Option for BAC and Peers
    Market Realist4 days ago

    Why Global Reach Could Be a Profitable Option for BAC and Peers

    Credit offtake is expected to be a challenge for bankers (XLF) this year as rate hikes can dissuade borrowers from leveraging up. Retail lending is driving current credit growth due to consumer confidence and a lower unemployment rate. In the second quarter, banks can see lower credit offtake across the major sectors.

  • Does Bank of America Corporation’s (NYSE:BAC) PE Ratio Signal A Buying Opportunity?
    Simply Wall St.4 days ago

    Does Bank of America Corporation’s (NYSE:BAC) PE Ratio Signal A Buying Opportunity?

    Bank of America Corporation (NYSE:BAC) trades with a trailing P/E of 16.8x, which is lower than the industry average of 17x. While BAC might seem like an attractive stock toRead More...

  • Trader: buy these two bank stocks as the Fed hikes rates
    CNBC5 days ago

    Trader: buy these two bank stocks as the Fed hikes rates

    "Halftime Report" trader Joe Terranova makes the case for why he believes Regions Financial and Bank of America are set to break out.

  • Bank of America Added $24.2 Billion in New Fund Flows in Q1 2018
    Market Realist5 days ago

    Bank of America Added $24.2 Billion in New Fund Flows in Q1 2018

    In 2017, almost every major fund house, asset manager, and bank (XLF) generated strong returns on their equity portfolios. This growth was aided by global growth, liquidity, and corporate earnings. Asset managers are expected to see subdued alpha generation in the second quarter, with a marginal rise on a sequential basis.

  • Bank of America’s Trading Revenue Expectations in 2Q 2018
    Market Realist5 days ago

    Bank of America’s Trading Revenue Expectations in 2Q 2018

    The Federal Reserve’s indication on faster rate hikes, trade wars, and the fluid geopolitical situation with North Korea drove volatility northward in the first quarter. Rate hikes and trade war fears have largely been allayed or discounted. With President Trump’s meeting with North Korea’s Kim Jong Un in Singapore, the geopolitical situation is expected to normalize.

  • Can Bank of America Outperform Its Peers in 2018?
    Market Realist5 days ago

    Can Bank of America Outperform Its Peers in 2018?

    Bank of America (BAC) has commanded high growth in 2018 compared to its peers (XLF). This growth was aided by credit growth, trading activity, investment banking, and wealth management spread. JPMorgan Chase (JPM) has also reported strong credit growth in recent years due to a strong brand presence and retail growth. Citigroup (C) has also improved its performance by focusing on core banking offerings and disposing of legacy assets.

  • Financial Times5 days ago

    [$$] Easy transatlantic pickings come to end for US banks

    from ailing European rivals is at an end, the investment bank bosses of two of Wall Street’s biggest groups told the Financial Times. During the same 2007-2017 period, four of the top five US players enjoyed a 33 per cent rise in sales and trading revenues and a 75 per cent increase in group net income.

  • The Wall Street Journal5 days ago

    [$$] Bank of America to Pay $15 Million to Settle Claims that Traders Cheated Customers

    WASHINGTON—Bank of America Merrill Lynch will pay over $15 million to settle claims that its traders lied about how much they paid to acquire mortgage bonds, allowing the bank to charge a higher price to clients buying securities. A U.S. appeals court last month tossed out the conviction of former Jefferies Group LLC trader Jesse Litvak, who was accused of cheating customers out of $2 million by inflating prices he said he paid for residential mortgage-backed bonds.

  • MarketWatch6 days ago

    SEC charges Merrill Lynch for overcharging customers for mortgage-backed securities

    The Securities and Exchange Commission on Tuesday announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers, causing them to overpay for residential mortgage-backed securities. Merrill, now a division of Bank of America Corp. , will repay more than $10.5 million to clients and penalties of about $5.2 million. The SEC found that Merrill traders and salespeople deceived clients about how much the bank itself had paid to acquire the securities, and that the Merrill employees illegally profited from "excessive, undisclosed commissions." In some cases, the SEC said, those mark-ups were more than twice what clients should have paid.

  • Business Wire6 days ago

    Bank of America Surpasses 1 Million Users on Erica

    Bank of America today announced that it has surpassed 1 million users on Erica, the first widely available AI-driven virtual assistant in financial services, available to clients in its mobile banking app. The milestone was reached within two months of completing its phased rollout, making Erica available to mobile clients nationwide. “Our clients are increasingly asking for mobile services that make their lives easier, and Erica is becoming a growing choice for its convenience and personal solutions,” said Michelle Moore, head of digital banking at Bank of America.

  • Financial Times6 days ago

    [$$] Merrill Lynch pays more than $15m in RMBS settlement

    Merrill Lynch employees allegedly duped customers into overpaying by deceiving them about how much the RMBS had cost, according to the SEC’s order. Merrill was accused of failing to properly supervise its staff. Merrill Lynch neither admitted nor denied the findings but agreed to be censured and pay a $5.2m penalty, along with $10.5m in disgorgement and interest to customers whose transactions were at issue in the SEC’s order.