Last $16.09 USD
Change Today +0.08 / 0.50%
Volume 50.1M
BAC On Other Exchanges
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

bank of america corp (BAC) Snapshot

Open
$16.05
Previous Close
$16.01
Day High
$16.14
Day Low
$16.02
52 Week High
03/21/14 - $18.03
52 Week Low
09/30/13 - $13.60
Market Cap
169.2B
Average Volume 10 Days
78.1M
EPS TTM
$1.54
Shares Outstanding
10.5B
EX-Date
09/3/14
P/E TM
10.5x
Dividend
$0.20
Dividend Yield
0.25%
Current Stock Chart for BANK OF AMERICA CORP (BAC)

bank of america corp (BAC) 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 (BAC) 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 (BAC) Key Developments

Bank of America Corporation Reaches Settlement with the U.S. Department of Justice Certain Federal Agencies and Six States

Bank of America Corporation reached a settlement with the U.S. Department of Justice, certain federal agencies and six states. The settlement includes releases on the securitization, origination, sale and other specified conduct relating to residential mortgage-backed securities (RMBS) and collateralized debt obligations, and an origination release on residential mortgage loans sold to Government Sponsored Enterprises and private-label RMBS trusts, or guaranteed by the Federal Housing Authority. The company will pay a total of $9.65 billion in cash and provide approximately $7.0 billion worth of consumer relief. The cash portion consists of a $5.02 billion civil monetary penalty and $4.63 billion in compensatory remediation payments. The settlement is expected to reduce third quarter pretax earnings by $5.3 billion, or approximately $0.43 per share after tax.

Bank of America Reaches Comprehensive Settlement with the U.S. Department of Justice, Federal Agencies and Six States; Provides Earnings Guidance for Third Quarter of 2014

Bank of America announced that it has reached a comprehensive settlement with the U.S. Department of Justice (DoJ), certain federal agencies and six states. The settlement includes releases on the securitization, origination, sale and other specified conduct relating to residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs), and an origination release on residential mortgage loans sold to Government Sponsored Enterprises (GSEs) and private-label (PLS) RMBS trusts, or guaranteed by the Federal Housing Authority (FHA). The claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities. Bank of America will pay a total of $9.65 billion in cash and provide approximately $7.0 billion worth of consumer relief. The cash portion consists of a $5.02 billion civil monetary penalty and $4.63 billion in compensatory remediation payments. The settlement resolves certain actual and potential civil claims by the DoJ, the Securities and Exchange Commission (SEC) and State Attorneys General from California, Delaware, Illinois, Kentucky, Maryland and New York (State AGs), all of which are members of the Residential Mortgage Backed Securities Working Group of the Financial Fraud Enforcement Task Force; the FHA; and the Government National Mortgage Association (Ginnie Mae), as well as all pending claims against Bank of America entities brought by the Federal Deposit Insurance Corporation (FDIC). The settlement resolves matters pertaining to certain pending civil enforcement investigations, including investigations by the DoJ and the State AGs relating to RMBS, CDOs and related mortgage activities, including origination, by Bank of America, Countrywide, Merrill Lynch and their affiliates. The company announced that the settlement is expected to reduce third-quarter 2014 pretax earnings by $5.3 billion, or approximately $0.43 per share after tax. The EPS impact reflects the varying tax treatment of the components of the settlement.

Federal Deposit Insurance Corporation Announces Settlement with Bank of America

The Federal Deposit Insurance Corporation (FDIC) as Receiver for 26 failed banks has announced a $1,031,000,000 settlement with Bank of America Corporation, Banc of America Funding Corporation, Banc of America Securities LLC, Banc of America Mortgage Securities, Inc., Bank of America, N.A., NB Holdings, Inc., Countrywide Financial Corporation, Countrywide Securities Corporation, Countrywide Home Loans, Inc., CWMBS, Inc., CWALT, Inc., CWABS, Inc., CWHEQ, Inc., Countrywide Capital Markets, LLC, Merrill Lynch Mortgage Capital Inc., Merrill Lynch Mortgage Investors Inc., and Merrill Lynch, Pierce, Fenner & Smith Inc. of certain of the receiverships' claims. The settlement funds will be distributed among the 26 receiverships.

 

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Industry Analysis

BAC

Industry Average

Valuation BAC Industry Range
Price/Earnings 25.6x
Price/Sales 2.0x
Price/Book 0.8x
Price/Cash Flow 21.3x
TEV/Sales NM Not Meaningful
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