Bank of America (BAC)

• Market cap: $359B
• 1 day: -0.53%
• 5 days: -2.07%
• 1 month: 2.95%
• 3 months: 20.61%
• 6 months: 17.76%
• Year to date: 37.91%
• 1 year: 53.13%
• 5 years: 38.85%
• 10 years: 164.72%
• 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)

9% more first-time investments, than exits

New positions opened: 185 | Existing positions closed: 170

1% more funds holding

Funds holding: 2,892 [Q2] → 2,907 (+15) [Q3]

4.24% less ownership

Funds ownership: 73.56% [Q2] → 69.32% (-4.24%) [Q3]

6% less capital invested

Capital invested by funds: $229B [Q2] → $215B (-$13.7B) [Q3]

12% less repeat investments, than reductions

Existing positions increased: 1,115 | Existing positions reduced: 1,265

14% less funds holding in top 10

Funds holding in top 10: 105 [Q2] → 90 (-15) [Q3]

25% less call options, than puts

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

Research analyst outlook

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

• Low target: $44 6% downside
• Avg. target: $50 8% upside
• High target: $57 22% upside

14 analyst ratings

• positive: 13 93%
• neutral: 1 7%
• negative: 0 0%

Piper Sandler Scott Siefers 54% 1-year accuracy 14 / 26 met price target	7% upside $50	Neutral Maintained	3 Dec 2024
Keefe, Bruyette & Woods David Konrad 67% 1-year accuracy 18 / 27 met price target	22% upside $57	Outperform Maintained	3 Dec 2024
Wells Fargo Whit Mayo 58% 1-year accuracy 7 / 12 met price target	20% upside $56	Overweight Maintained	15 Nov 2024
Citigroup Keith Horowitz 81% 1-year accuracy 13 / 16 met price target	16% upside $54	Buy Upgraded	8 Nov 2024
Oppenheimer Chris Kotowski 96% 1-year accuracy 52 / 54 met price target	20% upside $56	Outperform Maintained	5 Nov 2024