Bank of America (BAC)
About Bank of AmericaCopy link to section
What is Bank of America?Copy link to section
Bank of America is one of the largest financial institutions in the world and provides a range of services to individuals, businesses, and institutions. Founded in 1904 as the Bank of Italy in San Francisco, it has grown through a series of mergers and acquisitions to become one of the leading banks in the United States.
Bank of America operates in all 50 U.S. states and has a presence in over 35 countries. It offers various financial products and services, including checking and saving accounts, credit cards, loans, wealth management, and more.
As one of the world’s major financial industry players, Bank of America significantly impacts the economy and markets. It’s a member of the ‘big four’ U.S. banks, along with JPMorgan, Wells Fargo, and Citigroup. It is also a component of the Dow Jones Industrial Average.
How does Bank of America make money?Copy link to section
It makes money from banking activities for both individuals and corporations. Some of the main ways it earns revenue are through interest on loans and investments, fees for various banking and financial services such as account maintenance and ATM fees.
What is Bank of America’s best selling service?Copy link to section
The largest revenue earner for Bank of America is net interest income. This is the interest it charges for loans, credit cards, mortgages and other similar services.
In 2022, Bank of America made $44.7 billion in revenue from net interest. Its second largest revenue earner is income from trading and investment banking, which accounted for $17.6 billion in revenue in 2022.
Who are the key executives at Bank of America?Copy link to section
Brian Moynihan is the bank’s current CEO and president. Here are a few other members of the BoFA leadership team.
- Brian Thomas Moynihan. Chairman, CEO & Pres
- Alastair M. Borthwick. Chief Financial Officer
- Dean C. Athanasia. Pres of Regional Banking
- Paul M. Donofrio. Vice Chairman
- Geoffrey S. Greener. Chief Risk Officer 6.21M
- Thomas M. Scrivener. Chief Operations Exec.
- Christopher M. Hyzy. Chief Investment Officer
- Rudolf A. Bless. Chief Accounting Officer
- Matthew M. Koder. Exec. Officer & Pres of Global Corp. and Investment Banking
- Aditya Bhasin. Chief Technology & Information Officer
Where can I buy shares in Bank of America?Copy link to section
You can buy Bank of America stock on a stock trading platform. These platforms are extremely simple to use but there are different options to suit your specific needs. If you are a first-time investor you might want to use a trading platform for beginners, while if you plan on doing a lot of trading from your phone, a stock trading app might be best.
Are there any other ways to invest in Bank of America?Copy link to section
The simplest way to invest in Bank of America is to buy shares through a stock broker. However, you can also invest through an ETF or a fund. The best ETFs allow you to invest in the stock market more generally rather than focus on one company.
More about the BAC priceCopy link to section
What is the Bank of America stock price today?Copy link to section
The BAC stock price today is currently $28.75 as of 23 March, 2023. The price of Bank of America is down 31.54% over the past 52 weeks. You can use the live Bank of America stock chart to track the NYSE:BAC price in real time above, or compare the Bank of America value today to its past performance using the Bank of America financials tab at the top of this page.
What is the 52-week low for Bank of America stock?Copy link to section
The 52-week low for Bank of America stock is $27.62. BAC stock is currently 3.94% above the 52-week low.
What is the 52-week high for Bank of America stock?Copy link to section
The 52-week high for Bank of America stock is $44.63 BAC stock is currently 34.70% below the 52-week high.
What is the stock forecast for Bank of America?Copy link to section
The average Bank of America stock forecast has a price target of $40.40 by the end of 2023 Bank of America’s latest financial results, the broader economic outlook, and the amount of competition in the industry all influence these forecasts.
It’s best to take analyst forecasts with a grain of salt but you can use their estimates to help you understand the weight of opinion about a stock.
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FAQsCopy link to section
Bank of America’s market capitalisation is $229.77 billion. This is calculated by multiplying the number of shares that have been issued by the current BAC share price. Another way of measuring this is enterprise value, which includes Bank of America’s debt obligations. Bank of America’s enterprise value is N/A.
Bank of America when public via an initial public offering on 9 October, 1971. On its first day of trading, shares in the bank opened at $29 and closed at $29.125. BAC did not have a traditional IPO; rather, it went through a process called ‘shelf registration’, which allowed it to offer and sell shares over a period of time without having to file additional SEC paperwork.
Warrant Buffets, Berkshire Hathaway is the largest shareholder of Bank of America stock and has a 12.62% stake in the business. The second largest shareholder is the Vanguard Group, which owns 7.59% of the bank.
Its main competitors are the three other financial institutions that comprise the ‘big four’. Here’s a brief look at them.
- JPMorgan. JPMorgan is one of the largest investment banks in the world
- Wells Fargo. Wells Fargo is an American financial institution
- Citibank. Citibank offers many similar services to BofA
Yes, Bank of America has had a total of four splits in its history. The first in 1972 and the most recent in 2004. Each split has been a 2-for-1.
Bank of America reports earnings four times per year at quarterly intervals. It usually reports in March, June, September, and December, however, the exact days can change.
Yes, Bank of America pays a dividend and has a currency yield of 3.18%.
Latest Bank of America price analysisCopy link to section
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