BAC Stock Recent News

BofA's (BAC) CFO believes that robust consumer spending has reduced the likelihood of a recession in the United States. He reiterates the third-quarter net interest income outlook.

A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond.

Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.

Recently, Zacks.com users have been paying close attention to Bank of America (BAC). This makes it worthwhile to examine what the stock has in store.

Bank of America has unveiled a platform to help business clients digitize trade finance. The company's CashPro Supply Chain Solutions tool is designed to offer supply chain participants “improved process efficiency and working capital optimization,” Bank of American said in a Monday (Sept. 18) press release.

Bank of America's stability and financial health in the current economic environment is reassuring, with solid credit quality and cautious client spending despite some economic uncertainties. The bank faces challenges like declining net interest income due to an inverted yield curve and potential risks related to rising interest rates and economic indicators pointing towards elevated unemployment. While Bank of America appears to be trading below its fair value, investing in non-bank alternatives with similar yields may come with a better risk/reward.

Bank of America Corporation stock has underperformed its peers and JPMorgan Chase since late July, despite posting strong Q2 performance. The market has derated Bank of America downward to reflect higher execution risks as interest rate tailwinds are expected to peak. The risks of higher capital requirements likely worried investors, coupled with its HTM securities in its balance sheet.

Bank of America (BAC) is in a similar situation to 2017, and current buyers could benefit from future capital gains and dividend increases. BAC has made progress and growth over the last decade, and concerns about the recent banking crisis and raising rates are temporary. BAC's extensive reach, client acquisition engine, and active management of credit card debt indicate a potential for growth and stability.

BofA (BAC) will waive the $4.95 monthly fee for accounts with a minimum daily balance of $500 or more starting this November.

If you're looking for financial services stocks to buy, look no further. Bank stocks have underperformed by a wide margin this year.