Bank of America (BAC)

• Market cap: $356B
• 1 day: 0.87%
• 5 days: 1.84%
• 1 month: 11.25%
• 3 months: 19.90%
• 6 months: 17.18%
• Year to date: 37.05%
• 1 year: 56.64%
• 5 years: 41.47%
• 10 years: 171.38%
• Sector: Financials
• Industry: National Commercial Banks

About: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.

Employees: 213,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

0% less funds holding

Funds holding: 2,890 [Q2] → 2,886 (-4) [Q3]

2% less first-time investments, than exits

New positions opened: 180 | Existing positions closed: 184

4.21% less ownership

Funds ownership: 73.56% [Q2] → 69.35% (-4.21%) [Q3]

6% less capital invested

Capital invested by funds: $229B [Q2] → $215B (-$13.6B) [Q3]

12% less repeat investments, than reductions

Existing positions increased: 1,110 | Existing positions reduced: 1,256

15% less funds holding in top 10

Funds holding in top 10: 105 [Q2] → 89 (-16) [Q3]

25% less call options, than puts

Call options by funds: $4.67B | Put options by funds: $6.2B

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $44 5% downside
• Avg. target: $49 6% upside
• High target: $56 21% upside

13 analyst ratings

• positive: 13 100%
• neutral: 0 0%
• negative: 0 0%

Wells Fargo Whit Mayo 0 / 0 met price target	21% upside $56	Overweight Maintained	15 Nov 2024
Citigroup Keith Horowitz 0 / 0 met price target	16% upside $54	Buy Upgraded	8 Nov 2024
Oppenheimer Chris Kotowski 0 / 0 met price target	21% upside $56	Outperform Maintained	5 Nov 2024
Phillip Securities Glenn Thum 0 / 0 met price target	5% downside $44	Accumulate Upgraded	18 Oct 2024
Barclays Jason Goldberg 0 / 0 met price target	14% upside $53	Overweight Maintained	16 Oct 2024