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Last $44,560 COP
Change Today +3,240 / 7.84%
Volume 2.8K
As of 1:23 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

bank of america corp (BAC) Snapshot

Open
$44,560
Previous Close
$44,560
Day High
$44,560
Day Low
$44,560
52 Week High
07/2/15 - $44,560
52 Week Low
11/18/14 - $36,620
Market Cap
466.5T
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
10.5B
EX-Date
09/2/15
P/E TM
--
Dividend
$0.20
Dividend Yield
1.05%
Current Stock Chart for BANK OF AMERICA CORP (BAC)

bank of america corp (BAC) Details

Bank of America Corporation is a bank holding company. The company, through its subsidiaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Management; Global Banking; Global Markets; and Other segments. It’s Consumer and Business Banking segment offers a range of credit, banking, and investment products and services including traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, investment accounts and products, and credit and debit cards. The company’s Consumer Real Estate Services segment provides 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. It’s Global Wealth and Investment Management segment provides investment and brokerage services, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management services. The company’s Global Banking segment provides commercial loans, leases, commitment facilities, trade finance, real-estate lending, asset-based lending, treasury management, foreign exchange, short-term investing options, debt and equity underwriting and distribution, and merger-related and other advisory services. Its Global Markets segment offers risk management products, and sales and trading services, market-making, financing, securities clearing, settlement, and custody services to institutional investor clients. The company’s other segment includes residential mortgage portfolio and investment securities, interest rate and foreign currency risk management, international consumer card business, and other services. It caters to individual customers, large and small companies, institutional investors, corporations, and governments worldwide. Bank of America Corporation was founded in 1874 and is based in Charlotte, North Carolina.

216,700 Employees
Last Reported Date: 07/29/15
Founded in 1874

bank of america corp (BAC) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.5M
Chief Operating Officer
Total Annual Compensation: $6.2M
Vice Chairman of Global Wealth & Investment M...
Total Annual Compensation: $4.1M
Vice Chairman and Global General Counsel
Total Annual Compensation: $3.8M
Member of Management Team
Total Annual Compensation: $4.8M
Compensation as of Fiscal Year 2014.

bank of america corp (BAC) Key Developments

Bank of America Corporation Announces Executive Changes

David C. Darnell, Vice Chairman, Global Wealth & Investment Management of Bank of America Corporation, and a named executive officer in the Corporation's 2015 proxy statement, plans to retire from the Corporation in the fourth quarter of 2015. In addition, Bruce R. Thompson will no longer serve as the Corporation's Chief Financial Officer, effective August 1, 2015. Paul M. Donofrio (55) has been appointed the Corporation's Chief Financial Officer, effective August 1, 2015. Since April 2015, Mr. Donofrio has been the Corporation's Strategic Finance Executive. Previously, Mr. Donofrio was the Corporation's Head of Global Corporate Credit and Transaction Banking from January 2012 to April 2015, Co-Head of Global Corporate and Investment Banking from April 2011 to January 2012, and Head of Global Corporate Banking from February 2010 to April 2011.

Bank of America Corporation Declares Dividend on Common Stock, Payable on September 25, 2015 ; Declares Dividend on Cumulative Redeemable Preferred Stock, Series B, Payable on October 23, 2015

Bank of America Corporation announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.05 per share, payable September 25, 2015 to shareholders of record as of September 4, 2015. The board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable October 23, 2015 to shareholders of record as of October 9, 2015.

Bank of America Announces Management and Executive Changes, Effective August 1, 2015

Bank of America announced changes to the company’s management team. Chief Financial Officer Bruce Thompson has decided to step down after 5 ½ years as chief risk officer and chief financial officer. Global Human Resources Executive Andrea Smith will assume a newly created position as chief administrative officer. Vice Chairman David Darnell has decided to retire by the fourth quarter, after more than 35 years with the company. Paul Donofrio, who has been with Bank of America since 1999 and has 25 years of global corporate and investment banking experience, will become CFO, effective August 1. Prior to being named Strategic Finance Executive for Bank of America, serving as CFO of Consumer Banking and Global Wealth and Investment Management (GWIM), Donofrio was co-head of Global Corporate and Investment Banking, co-head of Global Investment Banking, and head of Global Corporate Banking. Thompson will assist Donofrio and remain on the management team until the end of the year. Smith, who joined Bank of America in 1988, is taking on a broad portfolio of responsibilities that reflect her deep understanding of the company and her management expertise. As CAO, she will be responsible for Global Corporate Strategy; the company’s market president and enterprise business and community engagement organization; Legacy Assets and Servicing; Global Corporate Services; and Corporate Security, Executive Protection and Aviation. Smith also will partner with Terry Laughlin and begin a transition of responsibility for the company’s annual Comprehensive Capital and Review (CCAR) submission and Global Resolution and Recovery Planning (GRRP). Laughlin remains responsible for the resubmission of the 2015 CCAR. To ensure a smooth transition, Laughlin will continue to partner with Smith to drive the spring 2016 CCAR submission. Replacing Smith as Global Human Resources executive is Sheri Bronstein, who will join the management team and report to Moynihan. Bronstein has been the human resources executive for the company’s Global Banking and Global Markets businesses. In her 15 years as a senior human resources executive, she has held leadership roles supporting several lines of business, and is a member of the company’s Global Diversity and Inclusion Council. Darnell, who currently oversees GWIM, plans to retire in the fourth quarter of this year. Upon Darnell’s retirement and after the company’s 2015 CCAR submission work is completed, Terry Laughlin will assume responsibilities as leader of GWIM and be appointed vice chairman. Laughlin, who is currently president of Strategic Initiatives, has held various senior leadership positions with Bank of America and Merrill Lynch, including serving as chief risk officer for Bank of America, and chairman and chief executive officer of Merrill Lynch Bank & Trust. In addition to the management changes announced above, Moynihan announced three senior executives will receive new titles in line with the evolution of their responsibilities. Anne Finucane is appointed vice chairman and continues as the company’s global chief strategy and marketing officer. This reflects additional responsibilities Finucane has recently taken on for general oversight of the company’s corporate governance process, working closely with the Board of Directors in governance matters and outreach to stockholders in the area of corporate governance practice. Cathy Bessant remains head of the company’s technology and operations areas. The position is re-designated chief operations and technology officer, effective immediately. Gary Lynch continues to serve as global general counsel and is appointed vice chairman.

 

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Industry Analysis

BAC

Industry Average

Valuation BAC Industry Range
Price/Earnings 19.1x
Price/Sales 2.3x
Price/Book 0.8x
Price/Cash Flow 16.3x
TEV/Sales NM Not Meaningful
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