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Bank of America
NYSE: BAC Financials Bank 🔎 Screen
S&P 500
🏹 Trader: 🎯 Near 52W High | BRS 68 Forming View all →
$471.6B
Market Cap
14.4
P/E
0.89
PEG
ROCE
10.2%
ROE
2.53
D/E
OPM
-7.7%
% from 52W High
68
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for BAC including FX impact
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📈 Price History
Ratio Health
Excellent
Good
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By Category
📊 Sector Averages
About

Bank of America Corporation, through its subsidiaries, provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, checking accounts, and investment accounts and products; credit and debit cards; residential mortgages and home equity loans; and direct and indirect loans. The GWIM segment provides investment management, brokerage, banking, and trust and retirement products and services; wealth management solutions; and customized solutions, including specialty asset management services. The Global Banking segment offers lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, and underwriting and advisory services. The Global Markets segment provides market-making, financing, securities clearing, settlement, and custody services; securities and derivative products; and risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1784 and is based in Charlotte, North Carolina.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding BAC
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Manager Shares Value % of Fund Period
Warren Buffett Berkshire Hathaway Inc 310.80M $15.2B 5.76% Mar 2026
Warren Buffett Berkshire Hathaway Inc 125.72M $6.1B 2.33% Mar 2026
Warren Buffett Berkshire Hathaway Inc 28.24M $1.4B 0.52% Mar 2026
Warren Buffett Berkshire Hathaway Inc 21.00M $1.0B 0.39% Mar 2026
Warren Buffett Berkshire Hathaway Inc 11.90M $580.1M 0.22% Mar 2026
Warren Buffett Berkshire Hathaway Inc 9.80M $477.8M 0.18% Mar 2026
Warren Buffett Berkshire Hathaway Inc 3.92M $191.1M 0.07% Mar 2026
Steve Cohen Point72 Asset Management 3.69M $179.8M 0.23% Mar 2026
Li Lu Himalaya Capital Management 3.00M $146.2M 4.57% Mar 2026
Warren Buffett Berkshire Hathaway Inc 2.10M $102.4M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$31.6B
+15% YoY
Net Income
$9.1B
+27% YoY
EPS
$1.21
+34% YoY
Efficiency Ratio
59%
-3.6pp YoY
What Went Right
  • Revenue grew 15% YoY to $31.6B, with net income up 27% to $9.1B and EPS up 34% to $1.21.
  • Every business segment generated positive operating leverage; firm-wide operating leverage was 6.6% and efficiency ratio improved to 59%.
  • Investment banking fees jumped 50% to $2.1B, sales and trading revenue rose 33% to $7.2B, and NII grew 9% to $16.2B FTE.
  • GWIM delivered record revenue of $6.9B, up 16%, and Global Markets net income ex-DVA rose 70% to $2.7B.
What to Watch
  • Inflation and tighter monetary policy remain key risks; the forecast assumes a 25bp rate hike in September.
  • Second-half comparisons get harder as last year's NII and investment banking ramp-up; operating leverage is still expected at a strong but lower 300-400bps for full-year.
  • All Other segment posted a $292M net loss, larger than a year ago, with no significant drivers noted.
  • Credit costs were stable but provision and net charge-offs each remained around $1.4B, with isolated commercial and corporate lending losses.
Management Guidance
  • Full-year 2026 NII growth now expected at the upper end of the 6%-8% range, up from prior 6%-8% and initial 5%-7% guidance.
  • Full-year operating leverage expected at 300-400bps, raised from more than 200bps previously.
  • Guidance assumes modest loan and deposit growth in H2 and one 25bp rate hike in September.
  • U.S. GDP growth forecast raised to 2.2% for 2026; global growth expected at 3.2% in 2026 and 3.5% in 2027.
Investor Lens
The thesis is clearly stronger after this call. Revenue growth was broad-based, every segment delivered operating leverage, NII guidance was raised, and capital returns were strong at $8B in the quarter. The company also has meaningful AI-enabled productivity upside, with 114 live generative AI use cases. Key watch items are tougher H2 comps and the assumed September rate hike, but management remains confident in the upper end of NII growth and 300-400bps of operating leverage.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong quarter: revenue +15%, EPS +34%, all segments positive.
Revenue
Revenue, net of interest expense, was $31.6B, up 15% YoY. NII FTE rose 9% to $16.2B, investment banking fees surged 50% to $2.1B, sales and trading revenue grew 33% to $7.2B, and GWIM revenue was a record $6.9B, up 16%.
Profitability
Net income was $9.1B, up 27% YoY, and diluted EPS rose 34% to $1.21. Return on tangible common equity was 17%, up from a year ago.
Margins
Efficiency ratio improved to 59%, roughly 360 basis points better YoY, and firm-wide operating leverage was 6.6% in Q2. Every business segment generated positive operating leverage and improved its efficiency ratio.
Balance Sheet
Average deposits were $2.02T, up 2.5% YoY, and average loans/leases were $1.2T, up 8% YoY. Ending assets were stable at $3.5T, and CET1 ratio stayed at 11.2% with CET1 capital of nearly $202B.
Key Risks
Management flagged inflation and tighter monetary policy as key risks, and guidance assumes one 25bp rate hike in September. Credit charge-offs remained around $1.4B, with some isolated commercial/corporate losses, and second-half comps are tougher on NII and investment banking fees.
Outlook
Full-year NII growth is expected at the upper end of the 6%-8% range, and full-year operating leverage is now guided to 300-400bps. This assumes modest H2 loan and deposit growth and continued fixed-rate asset repricing.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-14
Q2 saw double-digit revenue and net income growth, with all segments contributing and strong operating leverage. NII and fee income rose sharply, capital and credit quality remain robust, and AI investments are driving efficiency. Guidance for full-year NII and operating leverage was raised.
Q1 2026 Q1 2026 2026-04-15
First quarter 2026 saw 7% revenue growth and 25% EPS growth year-over-year, with all segments contributing to gains in loans, deposits, and profitability. NII guidance for 2026 was raised to 6%-8%, and capital and liquidity remain robust.
Q4 2025 Q4 2025 2026-01-14
Q4 and full-year 2025 saw double-digit growth in net income, EPS, and revenue, with strong operating leverage and asset quality. Technology and AI investments drove efficiency, while robust loan and deposit growth outpaced the industry. Guidance calls for continued NII and operating leverage gains in 2026.
Q3 2025 Q3 2025 2025-10-15
Q3 saw robust revenue and EPS growth, strong operating leverage, and improved returns across all segments. Net interest income and investment banking fees hit records, while credit quality remained strong and capital ratios exceeded regulatory minimums.
Q2 2025 Q2 2025 2025-07-16
Revenue and net income grew year-over-year, driven by record NII, strong deposit and loan growth, and robust performance across all business segments. Capital returns increased, efficiency improved, and digital and AI investments are enhancing productivity and client engagement.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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