BANK OF AMERICA (BAC) Stocks
ABOUT BANK OF AMERICA
📊 Bank of America Corporation (BofA) was established through NationsBank’s acquisition of BankAmerica in 1998. It is an American multinational investment bank and financial services company, headquartered in Charlotte, North Carolina, in the United States.
📊 BofA is the second largest banking institution in the U.S., after JP Morgan Chase, and forms part of the Big Four banking institutions in America. It primarily offers commercial banking, wealth management and investment banking services. It serves about 10.73% of all U.S. bank deposits.
📊 The bank had its origin as the Bank of Italy, founded by Amadeo Pietro Giannini in 1904 to offer banking services to Italian immigrants who faced service discrimination. In 1922, Giannini renamed the bank Banca d’America e d’ Italia (Bank of America and Italy), and expanded its operations into California.
📊 Nowadays, Bank of America operates in all 50 U.S. states, as well as in the District of Colombia and 40 other countries. It provides services to a clientele of approximately 56 million through about 4 600 banking centres and 15 900 ATMs. Today, BofA employs about 136 500 people at its various banking centres.
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OVERVIEW OF BANK OF AMERICA
- Bank of America follows a strategy of responsible growth, with focus on environmental, social and governance leadership. The bank is a global leader in wealth management, investment banking and trading, and serves corporations, governments, institutions and individuals globally.
- The bank is wholly committed to helping communities prosper economically and socially through its operations in the Americas, Europe, the Middle East and Africa. BofA drives growth, creating jobs and fostering economic mobility, while managing risk and providing sound returns to its clients and shareholders.
- In August 2018 the bank registered a US$313.5 billion market capitalization, which makes it the 13th largest company in the world. The bank is ranked #24 on the 2018 Fortune rankings of the biggest U.S. companies by total revenue. BofA was also named the “World’s Best Bank” by Euromoney Institutional Investor in its 2018 Awards for Excellence.
VALUES OF BANK OF AMERICA
- Bank of America is passionate about driving growth in order to create jobs, develop communities and address society’s most pressing challenges. And, in the process it aims to give value to its clients and shareholders alike.
- BofA value qualities such as discipline and passion, and its operations are firmly rooted in integrity and the disciplined management of risk. Integrity form the basis of all its activities, as its decisions and actions directly affect the lives of its clients.
- BofA’s strength lies in its workforce, and, as such, the bank encourages its employees to reach their full potential. Their diverse backgrounds and experiences make the company stronger. It therefore values each individual’s style culture, ethnicity and expertise.
- BofA believes that the most positive outcomes are achieved through teamwork. Great teams are built on trust, ownership and accountability. By working together, the bank can best meet the needs of its clientele.
MARKET PERFORMANCE OF BANK OF AMERICA
- Bank of America Corporation trades on the New York Stock Exchange (NYSE) under the ticker symbol “BAC”.
- In 2018, the bank recorded revenue of US$91.24 billion, with net income of US$34.60 billion and assets valued at US$2.325 trillion. A strong performance by the bank’s banking consumer banking business, as well as lower corporate taxed helped drive BofA’s earnings. Shareholders, who buy and sell BofA stock, can therefor expect solid dividends and returns.
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LATEST NEWS BANK OF AMERICA
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy BANK OF AMERICA Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN BANK OF AMERICA STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a $5 stock, multiply 100 by $5 to get $500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE BANK OF AMERICA STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of BANK OF AMERICA stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy BANK OF AMERICA stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?
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