Bank of America (BAC)

• Market cap: $352B
• 1 day: -1.86%
• 5 days: -2.82%
• 1 month: 4.33%
• 3 months: 8.25%
• 6 months: 8.25%
• Year to date: 3.39%
• 1 year: 40.68%
• 5 years: 33.27%
• 10 years: 184.59%
• 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: 212,000

Fund manager confidence

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

57% more first-time investments, than exits

New positions opened: 188 | Existing positions closed: 120

1% more funds holding

Funds holding: 2,896 [Q2] → 2,924 (+28) [Q3]

4.17% less ownership

Funds ownership: 75.46% [Q2] → 71.29% (-4.17%) [Q3]

6% less capital invested

Capital invested by funds: $235B [Q2] → $221B (-$13.5B) [Q3]

12% less repeat investments, than reductions

Existing positions increased: 1,119 | Existing positions reduced: 1,272

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: $4.91B | Put options by funds: $6.54B

Research analyst outlook

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

• Low target: $49 7% upside
• Avg. target: $54 18% upside
• High target: $58 27% upside

10 analyst ratings

• positive: 8 80%
• neutral: 2 20%
• negative: 0 0%

Piper Sandler Scott Siefers 64% 1-year accuracy 18 / 28 met price target	7% upside $49	Neutral Maintained	17 Jan 2025
Morgan Stanley Betsy Graseck 78% 1-year accuracy 43 / 55 met price target	22% upside $56	Equal-Weight Maintained	17 Jan 2025
Oppenheimer Chris Kotowski 94% 1-year accuracy 73 / 78 met price target	20% upside $55	Outperform Maintained	17 Jan 2025
Truist Securities John McDonald 0 / 0 met price target	16% upside $53	Buy Maintained	17 Jan 2025
Evercore ISI Group Glenn Schorr 97% 1-year accuracy 35 / 36 met price target	11% upside $51	Outperform Maintained	17 Jan 2025