Bank of America Corporation (BAC) NYSE -CEO Brian Moynihan says U.S. economy starting to “Come out of the hole.”
Bank of America is the number one small business lender in the country.
Due to the Coronavirus pandemic the stock has taken a hit, but this is an opportunity to buy at these levels. Bank of America has consistently invested in share repurchases to boost shareholder returns. The share repurchase program is could reach $24.6 billion for the full year 2020.
Bank of America’s stock has rallied more than 44% in 2019 with the company’s share price increasing from over $24 in last January to around $35 by year-end. For the first quarter of FY 2020, the consensus estimate for earnings per share is in the range of $0.68 to $0.76 while net revenues are expected to remain around $23.14 billion. Total Revenues have increased 9% from $83.7 billion in 2016 to $91.2 billion in 2019, and are expected to grow 1% to $92.4 Billion in 2020
We believe this stock is undervalued. In comparison to Citigroup Inc. (C) NYSE – Nasdaq, Wells Fargo & Company (WFC) NYSE – Nasdaq.
Top Institutional Holders
|Berkshire Hathaway, Inc||925,008,600||Mar 30, 2020||10.66%||19,637,932,578|
|Vanguard Group, Inc. (The)||631,097,272||Mar 30, 2020||7.27%||13,398,195,084|
|Blackrock Inc.||542,031,197||Mar 30, 2020||6.25%||11,507,322,312|
|State Street Corporation||347,015,170||Mar 30, 2020||4.00%||7,367,132,059|
|FMR, LLC||241,447,583||Mar 30, 2020||2.78%||5,125,932,187|
Top Mutual Fund Holders
|Holder||Shares||Date Reported||% Out||Value|
|Vanguard Total Stock Market Index Fund||228,004,607||Dec 30, 2019||2.63%||8,030,322,258|
|Vanguard 500 Index Fund||161,738,061||Dec 30, 2019||1.86%||5,696,414,508|
|SPDR S&P 500 ETF Trust||93,512,780||Jan 30, 2020||1.08%||3,070,024,567|
|Vanguard/Wellington Fund Inc.||80,638,268||Feb 28, 2020||0.93%||2,298,190,638|
|Vanguard Institutional Index Fund-Institutional Index Fund||73,214,228||Dec 30, 2019||0.84%||2,578,605,110|
|Fidelity 500 Index Fund||71,422,538||Jan 30, 2020||0.82%||2,344,801,922|
EPS2.45 Revenue69.2B Gross Margin-
P/E9.92 ROE9.33% Debt to Equity171.28%
EBITDA50,534.00 Net Margin26.51%
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