Last ¥1,836 JPY
Change Today 0.00 / 0.00%
Volume 0.0
8648 On Other Exchanges
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Exchange
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Bogota
As of 12:39 AM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

bank of america corp (8648) Snapshot

Open
¥1,860
Previous Close
¥1,836
Day High
¥1,860
Day Low
¥1,836
52 Week High
09/22/14 - ¥1,880
52 Week Low
10/8/13 - ¥1,320
Market Cap
19.3T
Average Volume 10 Days
7.4K
EPS TTM
--
Shares Outstanding
10.5B
EX-Date
09/3/14
P/E TM
--
Dividend
¥0.19
Dividend Yield
0.45%
Current Stock Chart for BANK OF AMERICA CORP (8648)

bank of america corp (8648) 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.

233,000 Employees
Last Reported Date: 07/29/14
Founded in 1874

bank of america corp (8648) Top Compensated Officers

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

bank of america corp (8648) Key Developments

Bank of America to Eliminate Another 50 Positions in Fort Worth

More Bank of America employees in North Texas are facing layoffs as the company plans to eliminate 50 positions at its Legacy Asset Servicing unit in Fort Worth. In a Worker Adjustment and Retraining Notification Act letter received by the Texas Workforce Commission on Sept. 25, 2014 began notifying affected employees on Sept. 18, 2014 and expects the layoffs to be complete by Nov. 17, 2014. About 29 of those workers are eligible for career transition resources, severance pay and benefits. As part of a nationwide initiative to reduce 30,000 jobs, 840 BofA workers will have lost their jobs in Dallas, Addison, Plano, Forth Worth and Richardson from mid-2013 to the end of this month.

Securities and Exchange Commission Charges Bank of America with Securities Laws Violations in Connection with Regulatory Capital Overstatements

The Securities and Exchange Commission charged Bank of America Corporation with violating internal controls and recordkeeping provisions of the federal securities laws after it assumed a large portfolio of structured notes and other financial instruments as part of its acquisition of Merrill Lynch. Bank of America agreed to pay a $7.65 million penalty to settle the charges stemming from regulatory capital overstatements that it made due to its internal accounting control deficiencies and books and records failures. According to the SECs order instituting a settled administrative proceeding, at the time of its Merrill Lynch acquisition, Bank of America permissibly recorded the inherited notes at a discount to par. Bank of America was required to realize losses on the notes as they matured because it redeemed the notes at par. For the purposes of calculating and reporting its regulatory capital, applicable rules required Bank of America to deduct the realized losses as they occurred. However, according to the SECs order, by the time 90% of the notes had matured as of March 31, 2014, Bank of America had yet to deduct any of the realized losses from its regulatory capital. Therefore, with each passing fiscal quarter and fiscal year since 2009 as more and more notes matured, Bank of America overstated its regulatory capital by greater and greater amounts in its regulatory filings, eventually reaching billions of dollars. Bank of America internally discovered the regulatory capital overstatements in mid-April 2014. In addition to the $7.65 million penalty, the SECs order requires Bank of America to cease and desist from committing or causing any violations or future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934.

Bank of America Corp. Announces Executive Changes

Bank of America Corp. appointed Steven Alch as market president for Orlando, Fla., replacing retiring John Moskos. Alch, who previously served as market president in Chattanooga, Tenn., before relocating to Orlando in 2011, will also continue to serve as complex director for the Central Florida market for Merrill Lynch in addition to his responsibilities as market president.

 

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Industry Analysis

8648

Industry Average

Valuation 8648 Industry Range
Price/Earnings 27.1x
Price/Sales 2.1x
Price/Book 0.8x
Price/Cash Flow 22.5x
TEV/Sales NM Not Meaningful
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