Due to the risk management history of the company and the macroeconomic outlook, I expect BACs Tier 1 ratio to be around 13% in the following years. Are you interested in testing our corporate solutions? Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. White label accounts can distribute our data. dollars)." CAD | ", Bank of America, Net income of Bank of America from 2009 to 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/249610/bank-of-america-net-income/ (last visited December 11, 2022), Net income of Bank of America from 2009 to 2021, Leading banks in the U.S. 2021, by domestic deposits, Largest banks in the U.S. 2021, by assets, Ad spend of selected credit card issuers in the U.S. 2021, Total assets of Bank of America 2009-2021, Tier 1 capital ratio at Bank of America 2009-2021, Bank of America revenue net of interest expense 2017-2021, Bank of America: quarterly net income 2017-2022, Bank of America quarterly net interest income 2017-2021, Total assets of retail customers at Bank of America 2015-2021, Total assets of Bank of America 2014-2021, by region, Revenue net of interest expense of Bank of America 2021, by region, Value of client assets at Bank of America 2021, by segment, Market capitalization of Bank of America 2001-2021, Price of Bank of America shares 1990-2021, Long-term debt of Bank of America 2021, by maturity, Gender diversity in the workforce of Bank of America in the U.S. 2019-2021, Racial diversity in the workforce of Bank of America in the U. S. 2019-2021, Gender diversity in the leadership of Bank of America 2021, Racial diversity in the leadership of Bank of America in the U.S. 2021, Gender diversity at Bank of America in the U.S. 2021, by job category, Racial diversity at Bank of America in the U.S. 2021, by job category, Cumulative return of shareholder of Bank of America 2016-2021, Revenue of Bank of America 2014, by business line, Long-term debt of Bank of America 2013-2019, by currency, Largest settlements paid by Bank of America 2010-2013, Socit Gnrale: breakdown of Global Banking and Investor Solutions income 2020, Socit Gnrale: Global Banking and Investor Solutions net banking income 2011-2021, Socit Gnrale: breakdown of French Retail Banking net income 2017, Applicable income taxes income FDIC-insured commercial banks in the U.S. 2000-2019, Evolution of the result of the exercise of the Deposit Guarantee Fund Spain 2015, Net income of Travellers International Hotel Group Inc. Philippines 2010-2019, Average annual income in Belgium 2006-2020, by region, World Wrestling Entertainment net income 2011-2020, Per capita income in Rajasthan India FY 2012-2021, Gender diversity at the largest U.S. banks, Net income of Bank of America from 2009 to 2021 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. The bank cites higher As a fundamental stock market analyst, I mostly use real-market data to estimate stocks' intrinsic value. Year to date, Bank of America's (NYSE:BAC) stock price is down by 19%. I wrote this article myself, and it expresses my own opinions. Is it time to get rid of him. Revenue increased 8% to $24.5 billion. Fred Alger Management LLC lifted its holdings in Definitive shares rose 2.4% in premarket trades Monday after the megabank topped earnings and revenue estimates. Is this happening to you frequently? This metric boils down to the overall profit that is left from the revenue that a company receives after taking out various operational line items like cost of goods sold, income tax expense, SG&A expense, etc. The current dividend yield for Bank Of America as of December 09, 2022 is 2.71%. Im 68, my husband is terminally ill, and his $3 million estate will go to his son. Also, according to the second approach, I calculate the FCFE of the company. Using the free cash flow to equity (FCFE) model, I evaluate that BAC is worth more than $43 per share. Net Income is the total amount of profit earned by a company. If you are an admin, please authenticate by logging in again. The Zacks Research Daily presents the best research output of our analyst team. NYSE | -0.26%. Its third-quarter 2022 results were primarily aided by higher rates and loan growth. After projecting the stocks total assets, I calculate its RWAs from 2022 to 2032. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information National Bank of Canada saw net income growth of 8% on a yearly basis. Also, due to lower investment banking and asset management fees as well as lower service charges, BACs noninterest income decreased by 8% YoY to $9.8 billion. Table 1 shows that BACs RWAs-to-total assets ratio is relatively stable. "Quarterly Net Income of Bank of America from 1st Quarter 2017 to 2nd Quarter 2022 (in Million U.S. In the third quarter of 2022, BAC's average loan and lease balances increased by 12% YoY and 1% YoY to $1.0 trillion and $2.0 trillion, respectively. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Published by Statista Research Department , Jul 19, 2022 The net income of Bank of America increased overall between 2009 and 2021, despite some considerable fluctuations. Chart. In the first quarter of 2022, which ended on 31 Mar 2022, both revenues and expenses increased and led to 71 bps improvement and sat at 66.04% in BAC's efficiency ratio. From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Get full access to all features within our Corporate Solutions. Estimation of total assets growth is one of the main parts of my valuation. Net Income is the total amount of profit earned by a company. Profit from the additional features of your individual account. Net income can be defined as company's net profit or loss after all revenues, income items, and But the Fed's rate stay high through the end of 2014 and in -- because they need to stay high to make sure inflation is gone, because that really works hard on middle-income America. The companys provision for credit losses increased from $0.5 billion in 2Q 2022 to $0.9 billion in 3Q 2022. The past year's Net Income was at 31.98 Billion. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Income is a vital part of your overall financial health, alongside net worth and savings. The ideal entry-level account for individual users. U.K. gni per capita for 2021 was $45,380, a 13.54% increase from 2020. Bank of America reported a net income of $7.1 billion in 3Q 2022, compared with $6.2 billion in 2Q 2022 and $7.7 billion in 3Q 2021. 22. statistic alerts) please log in with your personal account. NEO | From Business: Visit Mountain America Credit Union's University Place Branch at 1219 S. 800 E., Orem, Utah, 84097 for your banking needs. Net Income Definition Net Income is the total amount of profit earned by a company. The average wage in the United States has increased since the pandemic. The opening of new financial centers, enhancement in digital capabilities and cost-saving efforts are expected to keep aiding the companys financials.Moreover, supported by continued loan growth, Bank of America's top line is expected to improve further. Heres your chance, Cristiano Ronaldo reportedly set to join Saudi club Al-Nassr for history-making $210 million per season, Juul to pay $1.7 billion in legal settlement involving more than 5,000 lawsuits. Net income of Bank of America from 2009 to 2021 (in billion U.S. dollars) [Graph]. Bank of America. Revenue increased 8% to and a loss of 20.6% by the Financial Select SPDR Fund Bank of America Net Income (TTM): 27.41B for Sept. 30, 2022 View 4,000+ Financial Data Types: Add Browse Net Income (TTM) Chart View Full Chart No data According to BACs total assets growth rates within the last ten years, the U.S. inflation and recession outlook, and FEDs monetary policies, I estimate total assets growth rate of 1.4% to 1.6% for BAC from 2022 to 2032. Are you interested in testing our corporate solutions? The bank said its third-quarter net income fell to $6.58 billion, or 81 cents a share, from $7.26 billion, or 85 cents a share, in the year-ago quarter. I make $80,000 and have $220,000 in student debt. Shares of Bank of America are down 28.8% in 2022, compared to a 24.8% drop by the S&P 500 Investment Services If you're The Trading Economics Application Programming Interface (API) provides direct access to our data. In the global banking segment, BACs net income increased from $1.5 billion in 2Q 2021 to $2.0 billion in 3Q 2022. BAC (Bank of America) Net Income Get Your 7-Day Free Trial! "Net income of Bank of America from 2009 to 2021 (in billion U.S. 10701 S River Front Pkwy, #400 (801) 504-6152. U.K. gni per capita for 2020 was $39,970, a 8.03% decline from 2019. Bank of America released its financial results for the first quarter of 2022 today and reported better-than-expected earnings per share (EPS) of $0.80. These amounts led to an increase of 359 bps to 65.33%, compared with the quarter that ended in Sep 2021. Statista. We continued to see strong organic client growth across our businesses, with increased client activity helping to drive revenue up by 8%. The median American worker brings home an estimated $54,132 a year. OPEN NOW. In, Bank of America. 2022: 9.237B June 30, 2022: 7.965B March 31, 2022: API users can feed a custom application. That works out to annual passive income of $1,530. Name Address Phone; Bank of America (BofA), Spanish Fork, Utah. Our U.S. consumer clients remained resilient with strong, although slower growing, spending levels and still maintained elevated deposit amounts," the CEO commented. To use individual functions (e.g., mark statistics as favourites, set Please. As a result, it is observable that Bank of America has improved its efficiency ratio in recent quarters except in the third quarter of 2022 (see Figure 1). Please do not hesitate to contact me. Bank of America Net Income (Annual): 31.98B for Dec. 31, 2021 View 4,000+ Financial Data Types: Add Browse Net Income (Annual) Chart View Full Chart No data available Historical Net Income (Annual) Data View and export this data back to 1992. B of A Net Income is projected to increase significantly based on the last few years of reporting. Bank Of America net income/loss for the twelve months Please do not hesitate to contact me. Bank of Americas 3Q 2022 net income was higher than in 2Q 2022 and lower than in 3Q 2021. XLF, National Bank of Canada Press Release Fourth Quarter 2022. In global markets segment, the companys net income of $1.0 billion in 2Q 2022 increased to $1.1 billion in 3Q 2022. "Net Income of Bank of America from 2009 to 2021 (in Billion U.S. According to the first approach of using the FCFE model to evaluate bank stocks, I estimate total assets, total liabilities, Tier 1 ratio, total risk-weighted assets ('RWAs'), net revenues, and net income of BAC from 2022 to 2032. Then you can access your favorite statistics via the star in the header. That's why analysts' consensus earnings per share (EPS) estimate for Bank of America in 2022 is $3.17, down from the $3.51 expected this year. The ideal entry-level account for individual users. This metric boils down to the overall profit that is left from the revenue that a company receives after taking out various operational line items like cost of goods sold, income tax expense, SG&A expense, etc. Authors calculations based on SA data and BAC's financial reports. is up 15%. Quarterly net income of Bank of America from 1st quarter 2017 to 2nd quarter 2022 (in million U.S. dollars) [Graph]. Net income $0.81. In the third quarter of 2022, Bank of America reported a Tier 1 ratio of 12.8%. March 1, 2022. Get full access to all features within our Corporate Solutions. The median American worker brings home an estimated $54,132 a year. In the third quarter of 2022, notwithstanding a slight decline to 64.83% versus its previous level of 68.9% at the end of 2Q 2022, BACs efficiency ratio is still well higher than its level at the same time in 2021. Visit a quote page and your recently viewed tickers will be displayed here. In the growing, spending levels and still maintained elevated deposit amounts," CEO Brian Moynihan said. Upgrade now. The companys net reserve release of $1.1 billion in 3Q 2021 turned into a net reserve build of $378 million in 3Q 2022. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. (March 1, 2022). Are you interested in testing our corporate solutions? Then you can access your favorite statistics via the star in the header. In depth view into Bank of America Net Income explanation, calculation, historical data and more Bank Of America reported $7.08B in Net Income for its third fiscal quarter of 2022. In my valuation, I estimate Bank of Americas total assets growth rate from 2022 to 2032, based on the companys performance in the past years and the macroeconomic outlook. Show publisher information Today's Research Daily features new research reports on Please do not hesitate to contact me. In depth view into Bank of America Net Income (Quarterly) including historical data from 2022, charts and stats. Bank of America. In the third quarter of 2022, BACs net Dollars). Whether you're looking to purchase your first home, refinance your current home or finally get into your dream home, Bank of Utah can help you along the way. As of 2022, Bank of America is the worlds 13th wealthiest corporation, with a net worth of $2.5 trillion. Gaslighters have two signature moves: Are you being gaslighted at work? View BAC financial statements in full, including balance sheets and ratios. Dollars). BAC, Salary figures vary significantly depending on location, education and other Net income came in at 3 unexpected ways inflation affects our finances. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. (July 15, 2022). As of 2019, Bank of America has an estimated revenue of $91.24 billion. We have a plan for your needs. Bank of America Corporation is a global leader in wealth management, corporate and investment banking and trading, serving various clients worldwide. Home Homepage Membership Levels About Us General Discussion Complete Stock List The Book Membership Data Coverage Founder's Message Free Trial FREE Trial Screeners GuruFocus Screeners All-In-One Screener Ben Graham Lost Formula 2 New Canadian Faster Growers CEO Buys 3 New Standard users can export data in a easy to use web interface or using an excel add-in. Our team adapted well to our new capital requirements and improved our CET1 ratio by 49 basis points to 11%, above our new regulatory minimums, he continued. Please create an employee account to be able to mark statistics as favorites. According to the companys 3Q 2022 financial results, its net income decreased by 8% YoY. Please disable your ad-blocker and refresh. Bank Of America Annual Turnover. Accessed December 11, 2022. https://www.statista.com/statistics/249556/bank-of-america-quarterly-net-earnings/, Bank of America. Per diluted share Also, the revenues-to-assets ratio of BAC was relatively stable during the last 10 years (except in 2019, which reflects the effects of the COVID-19 pandemic). Analyze Bank Of America Net Income. Show publisher information The Zacks Research Daily presents the best research output of our analyst team. 0. Accessed December 11, 2022. https://www.statista.com/statistics/249610/bank-of-america-net-income/, Bank of America. However, in the past two years, despite all the macroeconomic challenges, the company was able to make huge profits and develop its operations. Then, based on the companys total revenue to total assets ratio (which is relatively stable), and BACs capital Tier 1 ratio, I estimate its net income from 2022 to 2023. Bank of America reported a net income of $7.1 billion in 3Q 2022, compared with $6.2 billion in 2Q 2022 and $7.7 billion in 3Q 2021. Profit from the additional features of your individual account. December 7, 2022. As the head of the Private Bank, Knox leads more than 4,000 professionals who provide tailored investment management, wealth strategy and fiduciary services to ultra high net worth individuals, families and institutions. Bank of America's annual net interest margin in FY 2018 and FY 2019 was 2.46% and 2.43%, respectively. Bank of Americas third-quarter 2022 earnings of 81 cents per share surpassed the Zacks Consensus Estimate of 79 cents. I am not receiving compensation for it (other than from Seeking Alpha). National Bank of Canada saw net income growth of 8% on a yearly basis. -0.73% I wrote this article myself, and it expresses my own opinions. Then, based on the companys total revenue to total assets ratio (which is relatively stable), and BACs capital Tier 1 ratio, I estimate its net income from 2022 to 2023. Use Ask Statista Research Service, Leading banks in the U.S. 2021, by number of employees, Largest banks globally 2021, by market capitalization, Banks with the most branches in the U.S. 2021. Direct access to our data from your apps using any programing language. Investors who can I want to spend the rest of my days traveling will I have enough money? According to Table 1, BACs Tier 1 ratio decreased from 13.5% in 2020 to 12.2% in 2020. July 15, 2022. As of June 2018, it was the sixth largest American public corporation, with revenues of $102.98 billion. I also use statistical analysis to make projections on variables related to the market to turn my observations into numbers. Use Ask Statista Research Service, Leading banks in the U.S. 2021, by number of employees, Largest banks globally 2021, by market capitalization, Banks with the most branches in the U.S. 2021. That works out to annual passive income of $1,530. She oversees the As the head of the Private Bank, Knox leads more The current TTM dividend payout for Bank Of America (BAC) as of December 09, 2022 is $0.88. I am bullish on BAC. (212) 419-8294. vianny.gutierrez-cruz@statista.com. Historical dividend payout and yield for Bank Of America (BAC) since 1993. Bank Of America financials, including financial statements for 2022, basic ratios and analysis of Bank Of America account historical trends I have no business relationship with any company whose stock is mentioned in this article. As Elon Musk clears Twitter Inc.'s conference rooms to install beds for his workers, he is looking to make a buck on the office equipment that is no longer needed. View job description, responsibilities and qualifications. ", Bank of America, Quarterly net income of Bank of America from 1st quarter 2017 to 2nd quarter 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/249556/bank-of-america-quarterly-net-earnings/ (last visited December 11, 2022), Quarterly net income of Bank of America from 1st quarter 2017 to 2nd quarter 2022, Leading banks in the U.S. 2021, by domestic deposits, Largest banks in the U.S. 2021, by assets, Ad spend of selected credit card issuers in the U.S. 2021, Total assets of Bank of America 2009-2021, Tier 1 capital ratio at Bank of America 2009-2021, Bank of America revenue net of interest expense 2017-2021, Bank of America: quarterly net income 2017-2022, Bank of America quarterly net interest income 2017-2021, Total assets of retail customers at Bank of America 2015-2021, Total assets of Bank of America 2014-2021, by region, Revenue net of interest expense of Bank of America 2021, by region, Value of client assets at Bank of America 2021, by segment, Market capitalization of Bank of America 2001-2021, Price of Bank of America shares 1990-2021, Long-term debt of Bank of America 2021, by maturity, Gender diversity in the workforce of Bank of America in the U.S. 2019-2021, Racial diversity in the workforce of Bank of America in the U. S. 2019-2021, Gender diversity in the leadership of Bank of America 2021, Racial diversity in the leadership of Bank of America in the U.S. 2021, Gender diversity at Bank of America in the U.S. 2021, by job category, Racial diversity at Bank of America in the U.S. 2021, by job category, Leading European financial services companies by net income in 2015, Cumulative return of shareholder of Bank of America 2016-2021, Revenue of Bank of America 2014, by business line, Long-term debt of Bank of America 2013-2019, by currency, Largest settlements paid by Bank of America 2010-2013, Socit Gnrale: breakdown of Global Banking and Investor Solutions income 2020, Socit Gnrale: Global Banking and Investor Solutions net banking income 2011-2021, Industry revenue of trusts, funds and similar financial entities in Germany 2012-2025, Net income of Travellers International Hotel Group Inc. Philippines 2010-2019, U.S. companies' responses to CFPB consumer complaints 2020, by type, Use of digital comparison tools in the United Kingdom 2017, Net income of Giordano South Korea 2016-2021, Gender diversity at the largest U.S. banks, Quarterly net income of Bank of America from 1st quarter 2017 to 2nd quarter 2022 (in million U.S. dollars), Find your information in our database containing over 20,000 reports. Currently, you are using a shared account. I evaluate that the stock is worth $43 per share. Riverbridge Partners LLC acquired a new position in Definitive Healthcare in the 2nd quarter worth $57,695,000. Salary figures vary significantly depending on location, education and other factors. Using the FCFE model, I calculate the fair value of BAC. You only have access to basic statistics. Copyright 2022 MarketWatch, Inc. All rights reserved. Tuesday, December 6, 2022. Bank of Americas net income dropped in 2020. Bank of America Corp. annual income statement. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information "Quarterly net income of Bank of America from 1st quarter 2017 to 2nd quarter 2022 (in million U.S. Try our corporate solution for free! -0.18% I used two approaches to build my way of using the FCFE model for evaluating bank stocks. "Our U.S. consumer clients remained resilient with strong, although slower Bank of America CEO Brian Moynihan appeared on FOX Business 'Cavuto: Coast to Coast' on Tuesday to discuss the pace of the economy as the Fed fights to get Tuesday, December 6, 2022. The bank said its third-quarter net income fell to $6.58 billion, or 81 cents a share, from $7.26 billion, or 85 cents a share, in the year-ago quarter. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. The stock is a buy. The group has earned 84.722 billion US dollars as the gross profit in its financial report. Bank Of America net income for the twelve months ending June 30, 2022 was $26.565B, a 1.5% increaseyear-over-year. In the last two quarters of 2021, and the first quarter of 2022, however, the net income of Bank of America decreased moderately compared to the previous quarters. Shares of Bank of America are down about 1% in premarket trades. In the consumer banking segment, BACs net income increased from $2.9 billion in 2Q 2022 to $3.1 billion in 3Q 2022, driven by increased consumer checking accounts, and digital sales growth of 36%. In its 3Q 2022 financial results, BAC reported total revenue (net of interest expense) of $24.5 billion, compared with $22.7 billion in 2Q 2022 and $22.8 billion in 3Q 2021. Another element in my valuation is the stocks Tier 1 ratio. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. In global wealth and investment management, BACs net income of $5.4 billion in 2Q 2022, remained the same in 3Q 2022. The stock has fallen 13.7% in 2022, compared to an 8.1% drop by the Financial Select Sector SPDR ETF I have no business relationship with any company whose stock is mentioned in this article. In depth view into Bank of America Net Income (Quarterly) including historical data from 2022, charts and stats. From Business: Visit Mountain America Credit Union's Provo Branch at 88 N. 500 W., Provo, Utah, 84601, for your banking needs. Bank of America (BAC-4.26%) Q2 2022 Earnings Call Jul 18, 2022, 8:30 a.m. Thus, relying on this stable ratio, I estimate the RWAs of Bank of America from 2022 to 2032. In, Bank of America. Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch. The purchase of 2,500 shares will allow us to generate monthly passive income of $127.50 going forward. I evaluate dividend stocks using Comparative Company Analysis and Dividend Discount Model methods. Download historical data for 20 million indicators using your browser. Bank of America was expected to earn 78 cents a share on revenue of $23.54 billion, according to estimates compiled by FactSet. SPX, USD | If you have an ad-blocker enabled you may be blocked from proceeding. Bank of America Corp. statistic alerts) please log in with your personal account. Dec 09, 16:00. December 7, 2022. The net income of the Bank of America increased overall between 2009 and 2020, despite some considerable fluctuations. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. I used this growth rate to estimate BACs total assets from 2022 to 2032. Statista. Bank Of America annual net income for 2021 was $30.557B, a 85.5% increasefrom 2020. To use individual functions (e.g., mark statistics as favourites, set I am not receiving compensation for it (other than from Seeking Alpha). Chart. The purchase of 2,500 shares will allow us to generate monthly passive income of $127.50 going forward. Services include checking and savings. Using the FCFE model, I evaluate that BAC is worth more than $43 per share. Thus, I think the stock is a buy. You only have access to basic statistics. Katy Knox is president of Bank of America Private Bank and a member of Bank of Americas executive management team. Want to own Twitters kitchen equipment or office chairs? Due to BACs continuing organic growth in the consumer banking segment, global banking segment, global wealth & investment management segment, and global markets segment, I expect the company to report solid financial results in the following years. Bank of America Corp. is one of the largest financial holding companies in the U.S. Learn more about how Statista can support your business. BACs efficiency ratio has been improving in the past years. Skip to main content. Katy Knox is president of Bank of America Private Bank and a member of Bank of Americas executive management team. Bank Of America net income/loss for the quarter ending September 30, 2022 was $20.396B, a 18.3% decline year-over-year. Dec 09, 16:00. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes like reinvesting into the company, paying off debt, and potentially paying out dividends to shareholders. According to my calculations, with total assets CAGR of 1.4% to 1.6%% from 2022 to 2032, Tier 1 ratio of 13%, and COE of 8.5% ( I calculated the COE of BAC using the company's P/B value, ROE, and U.S. 10-year treasury bond yield), Bank of America stock is worth $43.28 per share in my view. National Bank of Canada Press Release Fourth Quarter 2022. In my valuation, I estimate Bank of Americas total assets growth rate from 2022 to 2032, based on the companys performance in the past years and the macroeconomic outlook. Start Now! Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes like reinvesting into the company, paying off debt, and potentially paying out dividends to shareholders. See if you qualify! Advanced users can use our Python/R/Matlab packages. Posted by Defense World Staff on Dec 11th, 2022. Credit Suisse Group ( NYSE:CS Get Rating) was upgraded by Bank Of America (Bofa) from a neutral rating to a I sold my late mothers home for $250,000. I want to buy a house. Currently, you are using a shared account. Using the free cash flow to equity (FCFE) model, I evaluate that BAC is worth more than $43 per share. The company has generated a net income of 26.172 billion US dollars. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. ET. U.K. gni per capita for 2019 was $43,460, a 2.48% increase from 2018. To analyze the management's ability to keep expenses and revenues in check, I consider Bank of America's efficiency ratio in 3Q 2022, and compare it with the third quarter of 2021. Bank Of America annual/quarterly net income history and growth rate from 2010 to 2022. 88 N 500 W. Provo, UT 84601. Please create an employee account to be able to mark statistics as favorites. "Across the bank, we grew loans by 12% over the last year as we delivered the financial resources to support our clients. BACs noninterest expense of $15.3 billion in 2Q 2022 remained the same in 3Q 2022. Using these stable ratios, I estimate the total revenues and net income of BAC from 2022 to 2032. If you are an admin, please authenticate by logging in again. Services Bank of America (BofA), Spanish Fork, Utah The stock is a buy. Net interest income rose to $13.77 billion from $11.09 billion. Financials Stock Price Assets Debt Dividend Yield EBIT Employees EPS Earnings Per Share Equity From the annual turnover of 89.639 billion US dollars by the end of the third quarter of 2021. However, compared with the second quarter of 2022, its net income is up 15%. dollars)." Heres how to recognize the signs. Corporate solution including all features. Bank of America's bank of america said that, despite interest rates remaining low, its net interest income improved due to increasing loan balances, which rose for the second straight quarter. Easy 1-Click Apply (BANK OF AMERICA) Python, C#, .NET Software Engineer II - Fixed Income Technology job in Houston, TX. Corporate solution including all features. Considering BAC's quarterly efficiency ratio indicates that, in December 2021, the company increased its ratio as its revenue decreased albeit its expenses increased very slightly. In the third quarter of 2022, BACs net interest income (NII) increased by 24% YoY to $13.8 billion, driven by benefits from higher interest rates, including lower premium amortization expense, and solid loan growth. I have $600,000 invested, but my financial adviser has only made one trade this year, and left $7,500 in cash in my Roth IRA. BAC Net Income as of today (October 13, 2022) is $28,018 Mil. Should I use all my inheritance for a down payment? Learn more about how Statista can support your business. Bank Of America net income for the quarter ending June 30, 2022 was $5.932B, a 33.82% declineyear-over-year. Bank Of America financials, including financial statements for 2022, basic ratios and analysis of Bank Of America account historical trends To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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