Last $35,520 COP
Change Today 0.00 / 0.00%
Volume 0.0
BAC On Other Exchanges
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As of 4:01 PM 03/12/14 All times are local (Market data is delayed by at least 15 minutes).

bank of america corp (BAC) Snapshot

Open
--
Previous Close
$35,520
Day High
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Day Low
--
52 Week High
03/12/14 - $35,520
52 Week Low
08/23/13 - $28,060
Market Cap
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Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
10.5B
EX-Date
06/20/14
P/E TM
--
Dividend
$0.04
Dividend Yield
0.22%
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.

233,201 Employees
Last Reported Date: 07/16/14
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
Head of Compliance & Regulatory Relations and...
Total Annual Compensation: $4.1M
Co-Chief Operating Officer
Total Annual Compensation: $6.8M
Co-Chief Operating Officer
Total Annual Compensation: $4.6M
Compensation as of Fiscal Year 2013.

bank of america corp (BAC) Key Developments

Bank of America Settles Federal Claims over Drug-Trafficking Sanctions

Bank of America has agreed to a settlement with the U.S. Treasury Department over claims it may have processed transactions for foreign drug traffickers from 2005 to 2009 in violation of sanctions. The $16.6 million settlement announced on July 24, 2014. In reaching the settlement, Bank of America did not admit or deny the allegations. There were no findings of fault. This concludes a matter addressed in 2009 by enhancing sanctions-related systems and controls. The bank was suspected of processing 208 transactions totaling about $91,192 on behalf of 10 people on the Office of Foreign Assets Controlâ s blacklist between September 2005 and March 2009. Also during that time, the bank apparently failed to block five accounts owned by the traffickers, according to the Treasury. The settlement follows inquiries by the government into other banks accused of violating U.S. sanctions. In June, French bank BNP Paribas agreed to plead guilty and pay an $8.9 billion penalty for illegally processing transactions for countries subject to U.S. sanctions.

Bank of America Corporation David Azema as Chairman of its Global Infrastructure Group , Effective from September

Bank of America Corp. has announced that it has hired an executive from the French government. The bank has hired David Azema, head of the organization that manages the French government's stakes in companies, as chairman of its global infrastructure group. Azema is to be based in London and will start attending to his duties in September.

TIBCO Accuses Bank of America for Illegally Copying its $300 Million Software

Bank of America copied $300 million worth of Tibco's enterprise software for use in a massive IT project at its Merrill Lynch subsidiary. The bank stockpiled large quantities of Tibco software while it was in the terms of a license agreement that expired in February 2013, then used the software for the project when it was out of license. Bank of America hadn't filed a response to Tibco's suit. Tibco's lawsuit provides a detailed narrative of Bank of America's alleged wrongful deeds. But the license had specific restrictions on how the bank could use and make copies of the software. The restrictions aren't specified in the lawsuit. The stockpiling of software resulted in an accumulation of copies worth at least $300 million.

 

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BAC Competitors

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Industry Analysis

BAC

Industry Average

Valuation BAC Industry Range
Price/Earnings 24.9x
Price/Sales 1.9x
Price/Book 0.7x
Price/Cash Flow 20.7x
TEV/Sales NM Not Meaningful
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