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Bank of America (BAC) stock

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NYSE: BAC NYSE Diversified Banks Next results ~January 15, 2027

D Fundamentals grade

Bank of America Corporation is a holding company that provides banking and financial services through its bank and nonbank subsidiaries, including bank and broker-dealer units. Its products span loans, letters of credit, derivatives, debt securities, residential mortgages and home equity lending, consumer credit cards, and the clearing of transactions for clients. It also undertakes trading, market-making, investment banking, underwriting, and wealth management and advisory work.

Customers range from consumer and commercial borrowers to institutional clients such as broker-dealers, commercial and investment banks, insurance companies, mutual funds, hedge funds, alternative asset managers and clearinghouses, alongside sovereign nations, US states and municipalities. The group earns net interest income and noninterest income, the latter including asset- and performance-based fees on assets under management and fees from investment banking and underwriting. Funding comes chiefly from globally sourced deposits, supplemented by capital-markets borrowing and securitisation with government-sponsored enterprises.

The parent manages liquidity on a legal-entity basis and operates internationally, including in emerging markets. As a globally systemically important bank, it must submit a resolution plan every two years to the FDIC and Federal Reserve, favouring a single-point-of-entry strategy.

Based on Bank of America's 10-K filed February 25, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$46

Valuation models combined (6)

Base case. Range ~$35–$56. Weighted average of 6 models (residual income, justified price-to-book, price-to-book vs return on equity (peers), price-to-book vs peers, forward price-to-earnings vs peers, dividend discount (two-stage)), the residual income counting double.

Price vs value

Modestly overvalued

The price is inside our value range, 7% above our base value.

Price used: $49.57, November 2, 2026

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Bank of America files

10-Q filed October 30: Bank of America

Revenue for the twelve months to September 2026 was $120.2bn, up 5.4% on a year earlier, slower than the 8.1% growth a quarter earlier. The diluted share count is down 4.2% on a year earlier, which lifts each remaining share. Its fundamentals grade moves from C+ to C. Our model value is little changed at $47.56 a share, against a share price of $50.01. The rating stays Hold.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Bank of America stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $121.1bn, up 9.7% on a year earlier, faster than 8.0% a quarter earlier. The diluted share count is down 3.7% on a year earlier, which lifts each remaining share. Our valuation models combined value is $48.57 a share, against a share price of $51.02.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 15, 2027 (estimated)

Bank of America's trailing-twelve-month revenue grew 5.4% year on year, with a free-cash-flow margin of 32.4%. Where it stands out: change in share count of -4.2% ranks 3 of 14 diversified banks companies we cover. Where it lags: stock pay as % of revenue of 3.5% ranks 8 of 8 diversified banks companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 34.2% while net income grew 9.8%: a 44pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Strong cash generation. 32.4% of revenue turned into free cash flow.
  • Shrinking share count. Diluted shares fell 4.2% in a year, so each share owns more of the business.

Things to watch

  • Growth easing. The growth rate is 2.7 points lower than a quarter earlier.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 3.5% ranks 8 of 8 diversified banks companies we cover (median 1.7%).
  • Below peers: revenue growth. Revenue growth of 5.4% ranks 12 of 14 diversified banks companies we cover (median 10.2%).

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$0.91 against an average estimate of $1.11: missed by 17.8%
Revenue
$29.96bn, up 3.2% on a year earlier
Share reaction
-4.2% in the first session after the results on October 14, 2026, against -0.8% for the S&P 500
Next report
January 15, 2027; average EPS estimate $1.13

Bank of America's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-1.9%
  • 1 month-7.8%
  • This year-8.4%
  • 1 year-5.3%
  • 5 years+15.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$120B
Net margin
26.8%
EPS (TTM, diluted)
$4.36

Growth

Revenue growth
+5.4%
Change in growth rate
−2.7 pts
Share count change
−4.2%

Earnings

Last results
October 14, 2026
Next results (est.)
January 13, 2027

News & updates

Updated November 1, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Partnership
  2. Announcement
  3. Leadership
  4. Results
  5. Announcement
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$46
Price used
$49.60close November 3, 2026
Implied change
▼ 7%
Uncertainty
Low

How we got here: the combined value of 6 valuation models built for a business like Bank of America (see the models table below and how they are combined) , with a 8.97% cost of equity. The models span ~$35–~$56; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Bank of America as a bank or lender, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$45 ~$32–$65 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$46 ~$39–$55 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$56 ~$32–$79 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$35 ~$45–$67 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$50 ~$47–$60 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$48 ~$40–$59 Included
Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$46 ~$35–$56 6 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Bank of America with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

75 /100

Strong moat

How hard Bank of America's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 0.9% of total assets over 10 years.

  • Durability 19 / 20

    Net margin has been a median 26.5%; its worst year was 22.1%.

  • Discipline 19 / 20

    The diluted share count fell 14.8% over five years; stock-based pay has been a median 2.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (80 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 15, 2027, before the open. Analysts expect revenue of $30.5bn and EPS of $1.13 (range $1.05 to $1.20) for the quarter.

Analysts' consensus

Bank of America: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $4.39 +15% $122.8bn +9%
Next $5.11 +16% $130.2bn +6%

Next year's EPS estimate has moved −2.8% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −6.0% on 90 days ago. In the last 30 days, 0 analysts raised Bank of America's forecast and 15 cut it.

Consensus EPS forecast Bank of America, last 90 days
$4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.67 Current fiscal year, 60 days ago: $4.68 Current fiscal year, 30 days ago: $4.66 Current fiscal year, 7 days ago: $4.43 Current fiscal year, Now: $4.39 $4.39 Next fiscal year, 90 days ago: $5.25 Next fiscal year, 60 days ago: $5.29 Next fiscal year, 30 days ago: $5.28 Next fiscal year, 7 days ago: $5.15 Next fiscal year, Now: $5.11 $5.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.67$5.25
60 days ago $4.68$5.29
30 days ago $4.66$5.28
7 days ago $4.43$5.15
Now $4.39$5.11

Earnings against estimates

Bank of America: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Sept 2026 $1.11 $0.91 −17.8%
Jun 2026 $1.12 $1.21 +7.7%
Mar 2026 $1.02 $1.11 +8.8%
Dec 2025 $0.96 $0.98 +2.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 14, 2026

No numeric guidance in Bank of America's latest earnings release (filed October 14, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

25 analysts, Oct 2026
Buy2288%
Hold312%
Sell00%

Monthly trend

  1. Oct 2026616325
  2. Sep 2026615324
  3. Aug 2026515424
  4. Jul 2026515424

Counts of recommendations published by analysts covering Bank of America, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
72%
of shares
Held by insiders
7.1%
of shares
Employees
209,911
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −5.3%

$52.33 on October 31, 2025 to $49.57

Bank of America: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $110.4bn $119.2bn +8.1%
Net margin 25.3% 28.2% +11.5%
P/E multiple 14.6x 11.1x −24.3%
Share count 7793m 7503m +3.9%

Biggest factor: p/e multiple.

Last 3 years +87.4%

$26.45 on November 3, 2023 to $49.57

Bank of America: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $100.5bn $119.2bn +18.7%
Net margin 29.6% 28.2% −4.8%
P/E multiple 7.2x 11.1x +52.9%
Share count 8142m 7503m +8.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Bank of America: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
BAC+50%−24%+5%+34%+28%−8%
Industry peers (median)+28%−19%+5%+29%+19%+8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BAC67%42%50%75%67%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BAC−15%−39%−30%−17%−28%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 49% from January 2, 2020 to March 23, 2020. Getting back needed a 96% gain, reached on February 22, 2021, 336 days after the low.

Price behaviour

52-week range
$46.24 – $64.48
From 52-week high
−23.1%
vs 50-day average
−11.7%
vs 200-day average
−9.1%
Volatility (1 year)
22%
Beta vs S&P 500
0.74

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 2 down
typical move ±2.9%
After a week
1 up, 3 down
typical move ±3.2%
After a month
1 up, 2 down
typical move ±6.4%
Bank of America: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
October 14, 2026 −4.2% −0.8% −5.9% —
July 14, 2026 +3.5% +0.8% +2.9% +8.9%
April 15, 2026 +0.3% +1.0% −0.4% −6.6%
January 14, 2026 −3.6% −0.2% −3.8% −3.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Bank of America’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.30× the last 60 days’ realised volatility , richer than 74% of the 229 stocks we screen today.
  • Puts are priced 3 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

BAC Bank of America Grade D $49.79

Own 100 shares, sell the $53.00 call expiring December 4, 2026 (32 days) for $0.35 a share — $35.00 per contract.

Previous session · Bid $0.35, ask $0.44, quoted Mon 2 Nov, 17:15 New York time with BAC at $49.79. Option prices move with the shares: check the live chain at your broker before trading.

  • If BAC ends below $53.00: you keep your shares and the $35.00 — 0.7% extra on the position, 8.0% a year at that pace.
  • If it ends above $53.00: your shares are sold at $53.00, a total return of 7.2% including the premium — at or above our value of ~$46.
$357 $0 −$989 Our value $46.00 Break-even $49.43 Price $49.79
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$35.00
Annualised
8.0%
Break-even
$49.43
Max gain
$356.5
Chance of selling
~23%

Collar

Own the shares, buy the $47.00 put and sell the $53.00 call, both expiring December 4, 2026 (32 days).

  • Net cost of $0.36 a share ($36.00 per contract of 100 shares).
  • Worst case at expiry: -6.3%, if the shares fall below $47.00 (-5.6% from today).
  • Best case at expiry: +5.7%, if the shares rise above $53.00 (+6.5%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $46.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Bank of America in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Bank of America
$100B $105B $110B $115B $120B $125B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $102.8B Revenue (TTM), FY24 Q1: $102.3B Revenue (TTM), FY24 Q2: $102.5B Revenue (TTM), FY24 Q3: $102.7B Revenue (TTM), FY24 Q4: $105.9B Revenue (TTM), FY25 Q1: $108.3B Revenue (TTM), FY25 Q2: $110.4B Revenue (TTM), FY25 Q3: $114B Revenue (TTM), FY25 Q4: $113.1B Revenue (TTM), FY26 Q1: $115.1B Revenue (TTM), FY26 Q2: $119.2B Revenue (TTM), FY26 Q3: $120.2B $120.2B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $102.8B
FY24 Q1 $102.3B
FY24 Q2 $102.5B
FY24 Q3 $102.7B
FY24 Q4 $105.9B
FY25 Q1 $108.3B
FY25 Q2 $110.4B
FY25 Q3 $114B
FY25 Q4 $113.1B
FY26 Q1 $115.1B
FY26 Q2 $119.2B
FY26 Q3 $120.2B
Revenue growth, TTM YoY Bank of America
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 8.2% Revenue growth, TTM YoY, FY24 Q1: 4.4% Revenue growth, TTM YoY, FY24 Q2: 2.0% Revenue growth, TTM YoY, FY24 Q3: 1.5% Revenue growth, TTM YoY, FY24 Q4: 3.0% Revenue growth, TTM YoY, FY25 Q1: 5.8% Revenue growth, TTM YoY, FY25 Q2: 7.7% Revenue growth, TTM YoY, FY25 Q3: 11.1% Revenue growth, TTM YoY, FY25 Q4: 6.8% Revenue growth, TTM YoY, FY26 Q1: 6.3% Revenue growth, TTM YoY, FY26 Q2: 8.1% Revenue growth, TTM YoY, FY26 Q3: 5.4% 5.4%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 8.2%
FY24 Q1 4.4%
FY24 Q2 2.0%
FY24 Q3 1.5%
FY24 Q4 3.0%
FY25 Q1 5.8%
FY25 Q2 7.7%
FY25 Q3 11.1%
FY25 Q4 6.8%
FY26 Q1 6.3%
FY26 Q2 8.1%
FY26 Q3 5.4%
FCF margin (TTM) Bank of America
-50% 0% 50% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 41.8% FCF margin (TTM), FY24 Q1: 37.8% FCF margin (TTM), FY24 Q2: 43.8% FCF margin (TTM), FY24 Q3: -4.0% FCF margin (TTM), FY24 Q4: -10.4% FCF margin (TTM), FY25 Q1: 2.2% FCF margin (TTM), FY25 Q2: -22.6% FCF margin (TTM), FY25 Q3: 51.9% FCF margin (TTM), FY25 Q4: 9.1% FCF margin (TTM), FY26 Q1: 47.1% FCF margin (TTM), FY26 Q2: 77.4% FCF margin (TTM), FY26 Q3: 32.4% 32.4%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 41.8%
FY24 Q1 37.8%
FY24 Q2 43.8%
FY24 Q3 -4.0%
FY24 Q4 -10.4%
FY25 Q1 2.2%
FY25 Q2 -22.6%
FY25 Q3 51.9%
FY25 Q4 9.1%
FY26 Q1 47.1%
FY26 Q2 77.4%
FY26 Q3 32.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

What Bank of America earned on its loans and securities in FY2025, what it paid depositors and lenders, and how its revenue split between running costs, credit losses, tax and profit.

  1. Interest income $139B
  2. Fee and other income $53B · 46.9%
  3. Interest paid $78.5B
  4. Net interest income $60.1B · 53.1%
  5. Revenue $113B
  6. Non-interest expense $69.7B · 61.7%
  7. Credit-loss provisions $5.6B · 4.9%
  8. Pre-tax profit $37.8B · 33.4%
  9. Income tax $7.2B · 6.4%
  10. Net income $30.5B · 27.0%
Where Bank of America's revenue went, FY2025
Interest income $139B
Fee and other income $53B 46.9% of revenue
Interest paid $78.5B
Net interest income $60.1B 53.1% of revenue
Revenue $113B
Non-interest expense $69.7B 61.7% of revenue
Credit-loss provisions $5.6B 4.9% of revenue
Pre-tax profit $37.8B 33.4% of revenue
Income tax $7.2B 6.4% of revenue
Net income $30.5B 27.0% of revenue

Shares of revenue. Source: Bank of America's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bank of America: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 119.6 110.2 93.5 83.3 88.9 85.9 83.0 83.7 87.1 91.0 91.2 85.5 89.1 95.0 102.8 105.9 113.1 120.2
Net income 6.3 −2.2 1.4 4.2 11.4 5.5 15.9 17.8 18.2 28.1 27.4 17.9 32.0 27.5 26.3 27.0 30.5 32.2
Diluted EPS −$0.29 −$0.37 $0.01 $0.25 $0.90 $0.42 $1.31 $1.49 $1.56 $2.61 $2.75 $1.87 $3.57 $3.19 $3.05 $3.19 $3.81 $4.36
Growth (year on year)
Revenue +64.4% −7.9% −15.2% −10.8% +6.7% −3.4% −3.4% +0.9% +4.1% +4.5% +0.2% −6.3% +4.2% +6.6% +8.2% +3.0% +6.8% +5.4%
Net income +56.6% −135.7% — — +172.9% −51.7% +188.2% +12.0% +2.3% +54.4% −2.5% −34.8% +78.7% −13.9% −4.4% +2.5% +13.1% +9.8%
Diluted EPS −153.7% — — — +260.0% −53.3% +211.9% +13.7% +4.7% +67.3% +5.4% −32.0% +90.9% −10.6% −4.4% +4.6% +19.4% +14.6%
Margins
Net margin 5.2% −2.0% 1.5% 5.0% 12.9% 6.4% 19.2% 21.3% 20.9% 30.9% 30.1% 20.9% 35.9% 29.0% 25.6% 25.5% 27.0% 26.8%
Cash flow
Cash from operations 129.7 82.5 64.4 −16.1 92.8 30.8 28.4 17.3 9.9 39.5 61.8 38.0 −7.2 −6.3 45.0 −8.8 12.6 41.4
Stock-based pay 2.4 2.0 2.6 2.3 2.3 0.1 −0.1 1.4 1.6 1.7 2.0 2.0 2.8 2.9 2.9 3.4 4.0 4.2
Balance sheet
Cash 121.3 108.4 120.1 110.8 131.3 138.6 159.4 147.7 157.4 177.4 161.6 380.5 348.2 230.2 333.1 290.1 231.8 249.6
Total debt 614.5 508.4 408.0 306.3 493.8 475.6 439.2 240.8 260.1 249.6 265.1 282.3 303.9 302.9 334.3 326.7 365.9 380.9
Net debt (negative = net cash) 493.2 400.0 287.9 195.6 362.5 337.0 279.8 93.0 102.6 72.2 103.5 −98.2 −44.4 72.7 1.2 36.6 134.1 131.3
Diluted shares 7,729m 9,790m 10,255m 10,841m 11,491m 10,585m 11,236m 11,047m 10,778m 10,237m 9,443m 8,797m 8,558m 8,168m 8,081m 7,936m 7,681m 7,402m
Returned to shareholders
Dividends 4.9 1.8 1.7 1.9 1.7 2.3 3.6 4.2 5.7 6.9 5.9 7.7 8.1 8.6 9.1 9.5 9.6 9.9
Buybacks 0.0 — — 0.0 3.2 1.7 2.4 5.1 12.8 20.1 28.1 7.0 25.1 5.1 4.6 13.1 21.4 25.6
Total returned 4.9 1.8 1.7 1.9 4.9 4.0 5.9 9.3 18.5 27.0 34.1 14.8 33.2 13.6 13.7 22.6 31.0 35.5

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$25.6B
Dividends (TTM)
$9.9B
Returned to shareholders
91%
of free cash flow
Buybacks, last 3 fiscal years
$39.1B
Diluted share count
−4.2%
year over year
Total shareholder yield
10.3%
dividends 2.9% + buybacks 7.5% of market value
Dividend payout ratio
31%
of net income paid out

Competitors: side by side with peers

Closest by revenue in diversified banks
Growth, margins and cash generation against peers
Last 12 months unless stated BAC C WFC JPM TD RY Median
Revenue, last 12 months $120.2bn $91.4bn $87.2bn $199.4bn $48.4bn $47.6bn $28.3bn
Revenue growth, last 12 months 5.4% 10.2% 5.4% 13.5% 15.1% 12.9% 9.6%
Revenue growth, 3-year average 5.9% 5.7% 2.0% 10.7% — — 4.9%
Revenue growth, latest quarter 3.2% 14.3% 2.0% 27.7% — — 10.1%
Net margin 26.8% 19.5% 26.3% 32.6% 30.3% 30.6% 27.2%
Cash from operations / revenue 34.4% −20.0% 33.1% −81.5% −102.8% 82.9% 30.6%
Free-cash-flow margin 32.4% −26.8% 24.3% −86.2% — 78.3% 24.3%
Free-cash-flow margin, 3-year average 26.8% −56.6% 1.5% −62.3% — 94.9% 27.9%
Stock pay / revenue 3.5% 1.9% 1.6% 2.0% — — 1.6%
Change in share count −4.2% −6.4% −5.8% −3.6% −1.8% −0.2% −0.5%

Median of all 14 companies we cover in diversified banks. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

14 diversified banks companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth 5.4% 10.2% 12 of 14
Change in growth rate Growth -2.7pp +1.8pp 10 of 14
Net margin Profitability 26.8% 27.5% 8 of 14
Stock pay as % of revenue Cash generation 3.5% 1.7% 8 of 8
Change in share count Balance sheet -4.2% -0.3% 3 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $97.7B 86.4% ▲ 5.7%
Outside the US $15.4B 13.6% ▲ 14.8%
EMEA (part of Outside the US) $7.6B 49.1% ▲ 16.3%
Asia (part of Outside the US) $6B 39.0% ▲ 15.8%
Latin America (part of Outside the US) $1.8B 12.0% ▲ 6.1%

From Bank of America's 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$305B
Institutions reporting
3,598
Shares held vs prior quarter
▲ 0.6%
Positions opened / closed
256 / 122

Top buyers and sellers, Q2 2026: 1,774 institutions bought and 1,464 sold ; the biggest buyer was Vanguard Capital Management LLC (+12.1M shares) and the biggest seller Berkshire Hathaway Inc (−30.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $31.1B 545.7M 10.2% ▲ 1.2%
Berkshire Hathaway Inc $27.5B 483.4M 9.0% ▼ 5.9%
Vanguard Capital Management LLC $24B 421.8M 7.9% ▲ 3.0%
State Street Corp $17.1B 299.8M 5.6% ▲ 1.7%
FMR LLC $10.8B 189.2M 3.5% ▼ 4.7%
Vanguard Portfolio Management LLC $9.8B 172.3M 3.2% ▲ 5.5%
Geode Capital Management, LLC $8.9B 157.6M 2.9% ▼ 0.2%
Jpmorgan Chase & Co $7.6B 131.6M 2.5% ▼ 0.5%
Capital World Investors $6.6B 115.8M 2.2% ▼ 19.7%
Morgan Stanley $6.5B 114.6M 2.1% ▲ 5.5%
Price T Rowe Associates Inc $5B 87.5M 1.6% ▼ 12.2%
Norges Bank $4.8B 83.8M 1.6% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Bank of America's complete shareholder register. Values are as reported by the filers ; 14 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Bank Of America Corp /De/ 10% owner October 27, 2026 Sell 869 $25.16 $21,865
Bank Of America Corp /De/ 10% owner October 27, 2026 Sell 1,899 $25.08 $47,634
Bank Of America Corp /De/ 10% owner October 27, 2026 Sell 302 $22.16 $6,694
Bank Of America Corp /De/ 10% owner October 27, 2026 Buy 3,070 $22.98 $70,549
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 83 $6.27 $520
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 36 $6.27 $226
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 210 $6.27 $1,317
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 272 $6.27 $1,705
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 264 $6.27 $1,655
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 15 $6.27 $94
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 28 $6.27 $176
Bank Of America Corp /De/ 10% owner October 21, 2026 Sell 14 $6.27 $88

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 106 trades and filings

In the last 12 months, 3 members of Congress disclosed 0 purchases and 5 sales of Bank of America shares.

  • Laurel M. Lee(R-FL 15):Sale (full), $50,001 - $100,000, traded August 24, 2026, filed October 16, 2026
  • James A. Himes(D-CT 4):Sale (full), $1,001 - $15,000, traded July 20, 2026, filed July 20, 2026
  • Laurel M. Lee(R-FL 15):Sale (partial) (option), $1,001 - $15,000, traded June 2, 2026, filed July 19, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 13, 2027 estimated from the company's past filing pattern, not announced

  • October 14, 2026
  • July 14, 2026
  • April 15, 2026
  • January 14, 2026

Recent SEC filings

Data status

When each part of this page on Bank of America was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Bank of America in brief

What does Bank of America do?
Bank of America is a US-listed company in the diversified banks industry. Its financial year ends in December.
What is Bank of America's stock ticker?
Bank of America trades under the ticker BAC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Bank of America's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Bank of America reported revenue of $120B, 5.4% higher than a year earlier, according to its SEC filings.
What is Bank of America's free cash flow?
Bank of America's free-cash-flow margin is 32.4% of revenue over the trailing twelve months.
Who are Bank of America's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Berkshire Hathaway Inc and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Bank of America buying back stock, and does it pay a dividend?
Bank of America spent $25.6B on share repurchases over the trailing twelve months, and its diluted share count fell 4.2% over the year.
What is Bank of America's market cap?
On November 2, 2026, Bank of America's market capitalisation was about $367B, with a price-to-earnings ratio of 11.4 and net debt of $131B. Market figures come from third-party market data and may be delayed.
Does Bank of America pay a dividend?
Yes: Bank of America paid $9.9B in dividends over the trailing twelve months, a dividend yield of 2.89% and a payout ratio of 30.8%.
Who are Bank of America's competitors?
In our Diversified Banks peer group, the companies closest to Bank of America are Citigroup, Wells Fargo, JPMorgan Chase, Toronto Dominion Bank and Royal Bank Of Canada. The side-by-side comparison below sets their revenue, margins and growth against Bank of America's.
Are insiders buying or selling Bank of America stock?
Over the last 12 months, Bank of America's directors and officers reported 51 open-market purchases and 98 sales on Form 4. The insider trading page charts every trade.
When is Bank of America's next earnings date?
Around January 15, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Bank of America announces its own schedule.