Why choose Bank of America for stocks?
BoA's cheap valuation makes it an appealing value stock
Bank of America Corp's trailing 12-month revenue is $130.3 billion with a 19.1% profit margin. Year-over-year quarterly sales growth most recently was 42.1%. Analysts expect adjusted earnings to reach $3.135 per share for the current fiscal year. Bank of America Corp currently has a 2.7% dividend yield.
Bank of America has approximately 4,300 branch locations and 17,000 ATMs, so you'll always have access to your money. The minimums to open a checking account are relatively low, so it's fairly easy to switch banks. If you can qualify for their Preferred Rewards program, it's worth it.
The financial health and growth prospects of BAC, demonstrate its potential to perform inline with the market. It currently has a Growth Score of D. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of A.
You can open an investment account online in just a few minutes and if you already have a Bank of America account most of your information will prefill. If you need a little more help getting started you can speak with an advisor at 888.637.
Bank of America has 13.49% upside potential, based on the analysts' average price target. Is BAC a Buy, Sell or Hold? Bank of America has a conensus rating of Moderate Buy which is based on 11 buy ratings, 8 hold ratings and 1 sell ratings.
Strengths. Brand Power and Extensive Customer Base: Bank of America Corp (NYSE:BAC) boasts a strong brand and a vast customer base, serving approximately 69 million consumer and small business clients.
Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.
Bank of America could be a good fit for consumers who want access to a local branch, plenty of ATMs and a highly rated app. But, like many big banks, it generally offers low rates of return compared with what other financial institutions are paying out.
The bank has diversified revenue sources beyond loans, such as wealth management and investment banking. BAC's loan portfolio growth is slower compared to competitors, but non-interest income services contribute significantly to total revenues. We assess BAC's metrics compared to those of its main peers.
Who owns Bank of America stock?
The ownership structure of Bank of America (BAC) stock is a mix of institutional, retail and individual investors. Approximately 33.91% of the company's stock is owned by Institutional Investors, 27.44% is owned by Insiders and 38.64% is owned by Public Companies and Individual Investors.
Berkshire Hathaway (BRK.A 1.18%)(BRK.B 1.3%): Warren Buffett's Berkshire Hathaway is the largest Bank of America shareholder, with 1.03 billion shares amounting to a 13% stake. As of March 2024, it was the second-largest of Warren Buffett's stock holdings after Apple (AAPL -1.22%), worth almost $37 billion.
Merrill Edge is a good choice for long-term investors, especially those who already have an account with Bank of America. The Preferred Rewards program offers discounts and perks that increase with your balance—so you could benefit by having deposit and investment accounts under the same roof.
Bank of America Earnings Drop, Under Pressure From Higher Rates; Stock Falls. Bank of America reported a 18% drop in first-quarter profit, the latest big lender to feel the squeeze of higher interest rates.
| Company (Ticker) | Sector | Market Cap |
|---|---|---|
| JP Morgan (JPM) | Financials | $5.63B |
| Bank of America (BAC) | Financials | $282.41B |
| Wells Fargo & Co. (WFC) | Financials | $199.49B |
| Citigroup (C) | Financials | $113.83B |
- The all-time high Bank Of America stock closing price was 46.47 on February 08, 2022.
- The Bank Of America 52-week high stock price is 38.35, which is 3.7% above the current share price.
No fees on select banking services. No monthly maintenance fees on up to seven eligible accounts when you ask us to linkFootnote them to your primary Advantage Relationship Banking account. Option to enroll in Balance Connect for overdraft protection. Peace of mind with our $0 Liability Guarantee.
Our employees are at the heart of this purpose, and are key to driving responsible growth. Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team.
Bank of America is the second-largest bank with over $2.45 trillion in assets. Wells Fargo is the third-largest bank, holding over $1.7 trillion in assets.
It was formed through NationsBank's acquisition of BankAmerica in 1998. Bank of America is headquartered in Charlotte, North Carolina. The bank's history dates to 1904 when Amadeo Peter Giannini opened the Bank of Italy in San Francisco.
What are the achievements of Bank of America?
Bank of America was named International Financing Review's Derivatives House and Foreign Exchange Derivatives House of the Year as part of the 2023 IFR Awards. Our company also received regional awards across various subcategories, including seven awards in the Americas, six awards in EMEA and two awards APAC.
Bank of America is the second-largest commercial bank in the United States following JPMorgan Chase. The company provides financial services to consumers, wealthy investors, institutional clients, and governments. Bank of America's revenue for 2023 was $98.6 billion.
Bank of America pays slightly higher interest on your account balance. It also has a lower monthly fee and more options to have it waived. While the comparison between the two banks' checking accounts stacks up as a draw, the clear winner among savings accounts is Bank of America Advantage Savings.
- Low rate of income in the countries outside of the U.S: Bank of America gets 90% of its annual revenue from the banks in the United States. ...
- Higher Rate of Interest: Most customers believe that the bank incurred a higher Rate of Interest.
The Wells Fargo Everyday Checking slightly beats out the Bank of America Advantage Plus Banking® because it requires a lower minimum opening deposit and monthly service fee. It also boasts a higher bank bonus for new customers. However, Bank of America has slightly easier requirements to waive monthly fees.
