Bank of America Corporation (BAC) operates as a bank holding company and financial holding company, providing a diversified range of banking and nonbank financial services and products through four main business segments . The company offers credit, banking, and investment products and services to consumers, small businesses, affluent and ultra-high net worth clients, corporations, governments, and institutions globally . Bank of America generated $98.6 billion in revenue and $26.5 billion in net income in 2023, with significant contributions from each of its business segments .
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Consumer Banking - Offers credit, banking, and investment products and services to consumers and small businesses, primarily driven by credit card loans.
- Retail Banking - Provides a wide range of financial services to individual consumers.
- Preferred Banking - Caters to small businesses with specialized banking solutions.
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Global Banking - Provides lending-related products, integrated working capital management, treasury solutions, and underwriting and advisory services, driven by new client growth and deepening existing client relationships.
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Global Wealth & Investment Management (GWIM) - Delivers investment and wealth management solutions to affluent and ultra-high net worth clients, with client balances increasing due to higher market valuations and positive net client flows.
- Merrill - Offers investment solutions and financial advice.
- Private Bank - Focuses on wealth management for ultra-high net worth clients.
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Global Markets - Engages in trading across a broad range of asset classes, serving corporations, governments, institutions, and individuals globally, noted for strong performance in sales and trading activities.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian T. Moynihan ExecutiveBoard | Chairman of the Board and Chief Executive Officer | None specified in documents | Brian T. Moynihan has been with BAC since January 2010 as President and CEO, and Chair of the Board since October 2014. He has focused on responsible growth and improved financial performance. | View Report → |
Alastair M. Borthwick Executive | Chief Financial Officer | None specified in documents | Alastair M. Borthwick has been CFO since November 2021 and was previously President of Global Commercial Banking. | |
Dean C. Athanasia Executive | President of Regional Banking | None specified in documents | Dean C. Athanasia has held various leadership roles at BAC, including President of Retail and Preferred & Small Business Banking. | |
James P. DeMare Executive | President, Global Markets | None specified in documents | James P. DeMare oversees BAC's Global Markets business and achieved record sales and trading revenue in 2023. | |
Matthew M. Koder Executive | President, Global Corporate and Investment Banking | None specified in documents | Matthew M. Koder has been President of Global Corporate and Investment Banking since December 2018. | |
Arnold W. Donald Board | Director | Former President and CEO of Carnival Corporation & Carnival plc | Arnold W. Donald is a Director at BAC with a background in leadership at Carnival Corporation. | |
Clayton S. Rose Board | Director | Baker Foundation Professor of Management Practice at Harvard Business School | Clayton S. Rose is a Director at BAC and a professor at Harvard Business School. | |
Denise L. Ramos Board | Director | Former CEO and President of ITT Inc. | Denise L. Ramos is a Director at BAC with a background in leadership at ITT Inc.. | |
Jos\u00e9 E. Almeida Board | Director | Chairman, President, and CEO of Baxter International Inc. | Jos\u00e9 E. Almeida is a Director at BAC and has extensive leadership experience, including roles at Baxter International and Covidien. | |
Linda P. Hudson Board | Director | Former Executive Officer of The Cardea Group, LLC | Linda P. Hudson is a Director at BAC and has held executive roles at BAE Systems, Inc.. | |
Lionel L. Nowell III Board | Lead Independent Director | Former Senior Vice President and Treasurer at PepsiCo, Inc. | Lionel L. Nowell III is the Lead Independent Director at BAC with a background in finance at PepsiCo. | |
Maria Martinez Board | Director | Director at Tyson Foods Inc. and McKesson Corporation | Maria Martinez is a Director at BAC with a background in technology leadership at Cisco Systems and other major corporations. | |
Maria T. Zuber Board | Director | Vice President for Research and E.A., Griswold Professor of Geophysics at MIT | Maria T. Zuber is a Director at BAC and holds a leadership role at MIT. | |
Michael D. White Board | Director | Lead Director of Kimberly-Clark Corporation | Michael D. White is a Director at BAC and has held leadership roles at DIRECTV and Kimberly-Clark Corporation. | |
Monica C. Lozano Board | Director | Lead Independent Director at Target Corporation | Monica C. Lozano is a Director at BAC and has held leadership roles at the College Futures Foundation and US Hispanic Media Inc.. | |
Pierre J.P. de Weck Board | Director | Former Chairman and Global Head of Private Wealth Management at Deutsche Bank AG | Pierre J.P. de Weck is a Director at BAC with a background in private wealth management. | |
Sharon L. Allen Board | Director | Former Chairman of Deloitte LLP | Sharon L. Allen is a Director at BAC and has a background in leadership at Deloitte LLP. | |
Thomas D. Woods Board | Director | Former Vice Chairman and Senior Executive Vice President of CIBC | Thomas D. Woods is a Director at BAC with a background in finance at CIBC. |
- Despite significant investments in digital capabilities, your efficiency ratio has been deteriorating; how do you plan to enhance operational efficiency and return to consistent positive operating leverage?
- With the current rate environment impacting deposit growth and higher-end balances showing outflows, what strategies are you employing to stabilize deposits and attract new funds?
- Considering the potential for more favorable Basel III final rules than initially proposed, how might this influence your capital return plans, and are you prepared to increase shareholder distributions?
- As the net interest income is sensitive to rate movements, especially with floating-rate loans, how are you managing interest rate risk, and what impact do you anticipate from potential future rate cuts?
- Given the decline in commercial real estate loans and ongoing challenges in that sector, how are you addressing credit risks in your portfolio, and what is your outlook on asset quality, particularly in commercial real estate?
Research analysts who have asked questions during BANK OF AMERICA CORP /DE/ earnings calls.
Betsy Graseck
Morgan Stanley
4 questions for BAC
Gerard Cassidy
RBC Capital Markets
4 questions for BAC
James Mitchell
Seaport Global Holdings LLC
4 questions for BAC
Matthew O'Connor
Deutsche Bank
4 questions for BAC
Erika Najarian
UBS
3 questions for BAC
Glenn Schorr
Evercore ISI
3 questions for BAC
John McDonald
Truist Securities
3 questions for BAC
Michael Mayo
Wells Fargo
3 questions for BAC
Ken Usdin
Autonomous Research
2 questions for BAC
Steven Chubak
Wolfe Research
2 questions for BAC
Vivek Juneja
JPMorgan Chase & Co.
2 questions for BAC
Christopher McGratty
Keefe, Bruyette & Woods
1 question for BAC
Hang Leung
Wolfe Research
1 question for BAC
L. Erika Penala
UBS
1 question for BAC
Mike Mayo
Wells Fargo
1 question for BAC
Steven Alexopoulos
JPMorgan Chase & Co.
1 question for BAC
Recent press releases and 8-K filings for BAC.
- Craig Johnson says the current earnings season is not as weak as widely feared, with fundamentals translating into constructive price action.
- Over 50% of Piper-tracked stocks are in uptrends—led by tech (AI, crypto), industrials, and financials—indicating sustained market breadth.
- Elevated cash in money market funds and FOMO-driven sentiment suggest dips should be bought, even during seasonally weak August–September months.
- Chart patterns for Bank of America and peers like Oshkosh are looking constructive, and housing stocks such as Lennar and Horton are starting to turn up, signaling broader market strength.
- On July 24, 2025, Bank of America issued 100,000 shares of 6.250% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series UU, via a public offering of 2,500,000 depositary shares (each representing a 1/25th interest) at $1,000 per depositary share.
- Dividends accrue at a fixed 6.250% per annum until the first reset date on July 26, 2030, then reset every five years to the Five-Year U.S. Treasury Rate plus 235.1 bps.
- The preferred shares are redeemable at $25,000 per share (equivalent to $1,000 per depositary share) plus accrued dividends on any dividend payment date on or after the first reset date, or within 90 days of certain capital treatment events.
- If dividends on Series UU (or any parity preferred) remain unpaid for six or more quarterly periods, holders gain the right to elect two directors, subject to NYSE governance requirements.
- FHFA will allow applicants to use Vantage Score for mortgages sold to Fannie Mae and Freddie Mac, aiming to increase competition and expand access.
- Vantage Score adds around 33 million consumers not scored by its competitor and 4.9 million of these now meet the minimum 620 threshold for mortgage eligibility.
- This expansion could translate into up to $1 trillion in incremental mortgage originations, based on 1.83 adults per household aged 25–65.
- Vantage Score uniquely incorporates alternative data (e.g., rental payment history), boosting inclusion and predictive accuracy compared with traditional scores.
- The Kuwait Investment Authority sold $3.1 billion of Bank of America shares as part of $6.5 billion in financial services stocks divested over the past week.
- The overnight block trade was priced at $47.95 per share, a 1.5% discount, triggering a 3% drop in Bank of America’s share price.
- KIA has been a long-time backer of Bank of America since its $2 billion injection into Merrill Lynch in January 2008, prior to BAC’s acquisition of Merrill.
- Under new leader Sheikh Saoud Salem Al-Sabah, KIA is repositioning its portfolio amid concerns over the private equity sector.
- Warren Buffett’s Berkshire Hathaway has also reduced its stake, cutting shares from 1.03 billion to about 632 million by March 2025.
- Raised year-end S&P 500 target to 6,300 (from 5,600) and maintains a 12-month target of 6,600
- Cites Corporate America’s resilience, as firms have kept earnings guidance amid trade-policy volatility and elevated sovereign yields
- Notes near-term upside is limited (~1.1%) due to mixed earnings surprises, decelerating tech profits and lack of clear catalysts
- Highlights medium/long-term bullish drivers: deregulation, increased business investment and a favorable income environment versus bonds supported by aging demographics
- HSBC downgraded Bank of America from Buy to Hold, raising the price target to $51, noting limited upside amid underperformance.
- BoA’s consensus 2026 EPS estimate is about 4% below Visible Alpha consensus, the only universal bank in HSBC’s coverage with a lower 2026 EPS forecast versus end-2025.
- Despite concerns, BoA has maintained an 11-year streak of dividend increases and offers a 2.14% yield.
- The downgrades come ahead of mid-July earnings and reflect broader concerns over stretched valuations, macroeconomic uncertainty, and Moody’s credit rating cuts following the U.S. sovereign debt downgrade.
- Bank of America raised its quarterly dividend by 8% to $0.28 per share, underscoring its strong financial health.
- The Fed’s 2025 stress tests showed major banks held an average 11.6% common equity Tier 1 capital ratio, well above the 4.5% regulatory minimum.
- BoA’s dividend hike aligns with peers planning a combined $70 billion in share repurchases, including JPMorgan’s $50 billion and Morgan Stanley’s $20 billion programs.
- Consumer banking strength: The company highlighted 25 consecutive quarters of net new checking account growth and strong deposit expansion, driven by an efficient and automated retail banking strategy.
- Payments strategy and stablecoin readiness: Discussions emphasized investments in payments—including real‑time transactions and stablecoin potential—and the adaption to evolving regulatory clarity for digital currencies.
- Capital markets and technology integration: The call noted significant balance sheet and technology investments that boosted capital markets revenue and operational efficiencies, with further initiatives in AI and automation across business lines.
- Preferred Stock Offering: The company is registering and offering 3,000,000 depositary shares, each representing a 1/25th interest in its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series OO with a fixed dividend rate initially, subject to reset provisions.
- Supporting Agreements: The issuance is supported by an underwriting agreement dated April 24, 2025, a deposit agreement with Computershare Trust Company and Computershare Inc., and a legal opinion from McGuireWoods LLP confirming the legality of the offering.
- Regulatory Compliance: The transaction is being executed under a Registration Statement on Form S-3 with filings that include the Certificate of Designations and related exhibits ensuring compliance with securities regulations.
- The Board of Directors declared a regular quarterly cash dividend of $0.26 per share for common stock, payable on June 27, 2025 to shareholders of record as of June 6, 2025.
- A regular quarterly cash dividend of $1.75 per share was also declared for the 7% Cumulative Redeemable Preferred Stock, Series B, payable on July 25, 2025 to shareholders of record as of July 11, 2025.