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Bank of America Corporation (BAC-PN)

NYSE - Nasdaq Real-time price. Currency in USD
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26.79-0.01 (-0.04%)
As of 12:32PM EDT. Market open.
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  • r
    richard
    Interesting announcement by BAC today. They've used $14 billion of the $25 billion in the current buyback. They are going to start buying back again. Big change in the announcement, they eliminated the end date of the prior plan. Why is that good you ask?? Because BAC is currently $50 billion over capitalized and wants to return more money to shareholders. How do you do that? Spend another $10 billion in Q3 to end the old buyback plan and announce another! Xmas will come early!!
  • j
    josh
    10/21/21
    Piper Sandler Raises Price Bank of America Corporation (BAC) $46.00 -> $50.00
  • B
    Bruin Fan
    2020 3.13 trillion dollar deficit , Republicans hold all recording breaking deficits . So what does being conservative mean .
  • H
    Highlowsel
    Okay what just happened. Richard must be happy but something just caused the bid to get slammed from $46.83 to +$47.20 in under 2 minutes time. Now $47.12. Okay..fess up...what's the market seeing?
  • F
    Frankie
    BAC is up nicely, most stocks are up niicely, but AMC is down terribly... AMC is a great short
  • W
    William
    If you're feeling low, have a look at BAC's 1-year chart! It's been an amazing rally. Something must have happened late last fall to lift investors' spirits and compel them to buy BAC. Because the rally has been stupendous!
  • j
    josh
    10/15/21
    Barclays Raises Price Bank of America Corporation (BAC) $45.00 ➝ $49.00 Overweight
    Oppenheimer Raises Price Bank of America Corporation (BAC) $48.00 ➝ $51.00 Outperform
    RBC Raises Price Bank of America Corporation (BAC) $44.00 ➝ $50.00 Outperform
  • H
    Highlowsel
    Persistent pattern isn't it? Pop it early, then spend the rest of the session walking it back. Todays case in point? High of $47.48. Current bid? $47.19. Over and over again. Machines take profit off the churn to the bank. As do I. G/L!
  • G
    Gerald
    Retail investors will pour in next week after they read about BAC success and future growth possibilities,will catapult BAC up 2 more bucks to 48 and change …..then slow incremental stock price to 50 bucks …… ….Retail investors always the last to get on board….
  • H
    Highlowsel
    10/14/2021 - 12:26:00 - Bank of America Corp. said Thursday that third-quarter profit rose 58%, suggesting banks' lending businesses are starting to improve from a pandemic slump.

    The bank released $1.1 billion of the reserves it had set aside for pandemic loan defaults, helping boost its profit. Revenue was up 12% from the year-ago period.
    Bank profits soared in the latest quarter in large part because the U.S. economy bounced back so quickly from the pandemic recession. Banks last year set aside billions of dollars to prepare for a wave of loan defaults, but now they are releasing the money they had socked away. That helped power double-digit earnings gains at JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. Equities trading and a deal-making boom also pushed up earnings.

    Much of the country's economic activity flows through Bank of America and its peers, offering a real-time view of how consumers and businesses are recovering from the pandemic. Despite an improving economy, banks have had difficulty growing their loan books this year. Total loans outstanding were down from a year ago at Bank of America and Wells Fargo , and flat at Citigroup.

    Still, bank executives said they see signs that consumers and businesses have an increasing appetite for debt. Bank of America said its consumer and small-business customers were spending at well ahead of pre-pandemic levels.

    The bank's outstanding loans and leases totaled $927.74 billion at the end of the third quarter, up slightly from the second quarter but down 3% from a year earlier. If not for the runoff in government Paycheck Protection Program loans, the bank's loan book would have grown almost 2% from the second quarter.

    Commercial lending inside the U.S. and abroad ticked up from a year ago. Additionally, more people borrowed against their stock portfolios. Securities-based loans to wealth-management clients jumped by about one-quarter over the past year.
    The bank benefited from a rebound in net interest income, which includes the money it makes on loans and holdings of debt instruments such as mortgage-backed securities. Net interest income rose 10% from a year earlier to $11.1 billion .

    "We're anticipating more loan growth across all of our products," Paul Donofrio , the bank's exiting chief financial officer, said on a call with reporters Thursday.

    Bank of America's noninterest income, which includes fees, rose 14% from a year earlier to $11.67 billion . A boom in mergers and acquisitions helped lift investment-banking fees across the industry. Advisory fees more than tripled at Morgan Stanley and Citigroup, and more than doubled at JPMorgan. They rose 65% at Bank of America .

    The bank's investment bank has often trailed peers, but Mr. Donofrio said that the pipeline of deals remained robust going into the fourth quarter. Equities-trading revenue rose almost across the board at the banks, but fixed-income trading slowed. JPMorgan and Citigroup both reported a 5% drop in overall trading revenue; Morgan Stanley reported a 6% increase.

    At Bank of America , total adjusted trading revenue was $3.63 billion , up 9% from a year earlier. Overall, the second-largest U.S. bank earned $7.69 billion , up from $4.88 billion in the same period a year earlier. Per-share earnings of 85 cents topped the 71 cents that analysts polled by FactSet had expected.

    Revenue totaled $22.77 billion , up 12% from $20.34 billion a year ago. That beat analysts' expectations for revenue of $21.68 billion . Analysts and investors also have been keeping a close eye on expenses, which rose in recent quarters. Noninterest expenses were roughly flat from a year earlier at $14.44 billion .
  • g
    greg
    For those investing in BAC please do your due diligence and read their sec quarterly reports. Check out their securities sold not yet purchased grow over the last few quarters. These guys are in trouble if they are forced to close those positions.
  • P
    Project Manager
    Is there a hearing today about a bankruptcy of Bank of America? I heard that rumor, is it true? Please, factual answers only.
  • G
    Gerald
    BAC Will melt up to 50 bucks by end of year……a juggernaut….only getting stronger every quarter…… great management,the Tom Brady of Banks…..we could see 55 or 60 by next year at this time …….and a .25 cent or more dividend……keep loading up if you can.
  • H
    Highlowsel
    Pattern of popping it early and selling it back down for the rest of the session continues as it has been for that last few sessions. Bid .27. Let's see if they again work it back to close to flat or not. G/L!
  • W
    William
    BAC stock is outperforming the DOW once again! Thank you, Big Joe, for your record-breaking 2021 bull market! It's been awesome!
  • P
    Passive Dream
    $47s on what data or things going on or anything cured how much disasters going on with these fake market the dark side world owner controlling and programming ? well the higher it go the more attractive Puts for next big drops ;)
  • C
    Constantine
    Basically BAC is going to buy back a minimum of 500 million shares. Think about what that will do to the EPS? Better yet they will have room to crease the dividend to 1$ a share for 2022.
  • A
    Anonymous
    Hats off to Brian Moynihan. He is the total antithesis of Ken Lewis. Lewis made the single worse acquisition of Countrywide Financial and walked away with a huge severance pay.
  • H
    Highlowsel
    OT: How many are in this camp. Social Policy liberal (or left of center), Fiscal Policy conservative (or right of center)? In other words, middle of the road mostly? Yeah, me too. So let's do a check list of the two parties representing us shall we?

    First, on Social Policy. The Dem's? Check. The Rep's? They don't even know what Social Policy means. No check.

    Next, Fiscal Policy. The Dem's? They never saw a program they didn't consider tasty from my tax-paying monies standpoint. No Check. The Rep's? The past 4 years gives lie to their whole "conservative" credo. It becomes clear they're no more conservative than the Dem's...they just talk smack until they're in power and then it's spend baby, spend.

    So the overall pass/fail for both sides? Both sides fail.

    Which leaves me, average citizen, in something of a pickle doesn't it? This is the best America can do? Really? Apparently so, since we elected 'em didn't we?

    So it goes...
  • M
    Michael
    I feel the only thing holding down the share price is the low dividend. Kind of a bland generic statement, but BAC does better ever quarter, time to reward shareholders, the share buybacks have worked.