Last $16.29 USD
Change Today +0.20 / 1.24%
Volume 77.9M
BAC On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 04/22/14 All times are local (Market data is delayed by at least 15 minutes).

bank of america corp (BAC) Snapshot

Open
$16.09
Previous Close
$16.09
Day High
$16.34
Day Low
$16.04
52 Week High
03/21/14 - $18.03
52 Week Low
04/23/13 - $11.90
Market Cap
171.5B
Average Volume 10 Days
103.2M
EPS TTM
$1.49
Shares Outstanding
10.5B
EX-Date
--
P/E TM
10.9x
Dividend
$0.20
Dividend Yield
0.25%
Current Stock Chart for BANK OF AMERICA CORP (BAC)

bank of america corp (BAC) Details

Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The company’s Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions. This segment provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans. The company’s Global Wealth & Investment Management segment provides investment and brokerage, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management services; and retirement and benefit plan, philanthropic management, and asset management services. Its Global Banking segment provides various commercial loans, leases, commitment facilities, trade finance, real estate and asset-based loans, and consumer loans; treasury management, foreign exchange, and short-term investing options; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company’s Global Markets segment offers sales and trading services for securities and derivative products in primary and secondary markets; market-making, financing, securities clearing, settlement, and custody services to institutional investor clients; and risk management products. The company was founded in 1874 and is based in Charlotte, North Carolina.

238,560 Employees
Last Reported Date: 04/16/14
Founded in 1874

bank of america corp (BAC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $1.5M
Chief Financial Officer
Total Annual Compensation: $5.3M
Head of Compliance & Regulatory Relations and...
Total Annual Compensation: $4.1M
Co-Chief Operating Officer
Total Annual Compensation: $6.8M
Co-Chief Operating Officer
Total Annual Compensation: $4.6M
Compensation as of Fiscal Year 2013.

bank of america corp (BAC) Key Developments

US City of Providence Sues Bank of America and the New York Stock Exchange Among Exchanges and Traders

The backlash against high-frequency trading is gaining momentum, with Bank of America and the New York Stock Exchange among exchanges and traders being sued by the United States city of Providence. The capital of Rhode Island claims the ultra-fast trades executed by supercomputer-generated algorithms rigged securities markets and fleeced ordinary investors of billions of dollars. In a lawsuit filed in Manhattan's Federal Court, Providence sought unspecified damages on behalf of every retail investor in the city who has traded shares in the past five years. A technique known as electronic front-running, in which high frequency traders test buy and sell thresholds with lightning-fast bids in order to make transactions at better prices, is central to the case. High-frequency trading firms, which headhunt the world's best mathematicians to create ever-faster algorithms, often rent space inside exchanges to shave fractions of seconds off the time it takes to execute trades. Providence argues that stock exchanges, big brokerage companies and a group of high-speed trading companies gave some traders information about investors trades that ordinary investors could not access. The defendants include 14 brokerages, 16 securities exchanges and 12 high-speed traders. The Nasdaq Stock Market, New York Stock Exchange, JPMorgan Chase, Goldman Sachs and Citigroup have been targeted.

BofA Signs $950 Million Deal with FGIC to Settle RMBS Case

BofA signed a $950 million deal with FGIC to settle RMBS case. The recent agreement will resolve pending litigation as well as outstanding and potential claims by FGIC related to alleged representations and warranties breaches and other claims involving such securitizations. Under the terms of the settlement, the company will pay more than $365 million in direct cash payments to the RMBS Trusts, while FGIC received nearly $584 million. Fir Tree Partners, a majorbondholder of RMBS insured by FGIC since 2008, has welcomed the settlement.

Bank of America Corporation Reports Earnings Results for the First Quarter Ended March 31, 2014; Reports Total Net Charge-Offs for the First Quarter Ended March 31, 2014

Bank of America Corporation reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net interest income of $10,085 million against $10,664 million a year ago. Loss before income taxes was $681 million against income before income taxes of $1,984 million a year ago. Net loss was $276 million against net income of $1,483 million a year ago. Diluted loss per share was $0.05 against diluted earnings per share of $0.10 a year ago. Book value per share was $20.75 against $20.19 a year ago. Tangible book value per share was $13.81 against $13.36 a year ago. Adjusted net income was $1,659 million against $1,450 million a year ago. The company's revenues fell 2.7% to $22.6 billion. For the quarter, the company reported total net charge-offs of $1,388 million against $2,517 million a year ago.

 

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Industry Analysis

BAC

Industry Average

Valuation BAC Industry Range
Price/Earnings 21.6x
Price/Sales 2.0x
Price/Book 0.8x
Price/Cash Flow 17.5x
TEV/Sales NM Not Meaningful
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