Bank Of America Corp #NYSE:BAC Price, Chart, News & Insight

Bank of America Announces Issuance of Series OO Preferred Stock and Depositary Shares

Bank of America Corporation has issued 120,000 shares of its newly designated 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series OO. Each share carries a liquidation preference of $25,000 and is non-cumulative in nature. In connection with this issuance, the company also sold 3,000,000 Depositary Shares, each representing a 1/25th interest in a share of the Series OO Preferred Stock.

Under the terms of the Series OO Preferred Stock, Bank of America is restricted from paying dividends on its common stock or any other junior or parity preferred stock unless full dividends are paid on the Series OO shares. These restrictions are designed to protect Series OO investors and are formalized in the Certificate of Designations filed with the State of Delaware.

The Depositary Shares were offered to investors under the terms outlined in the company’s prospectus and related supplement. This move enhances the company's capital structure while maintaining flexibility in capital allocation strategies.

Bank of America Shareholders Approve Equity Plan Amendment, Re-elect Board, and Reject All Shareholder Proposals at 2025 Annual Meeting

Bank of America Corporation conducted its 2025 Annual Meeting of Shareholders, during which all 14 nominated directors were re-elected with strong majority support. The meeting also resulted in the approval of the company’s amended and restated equity compensation plan, ratification of the auditor appointment, and endorsement of executive pay via a non-binding advisory vote. All shareholder proposals failed to gain majority support.

The amendment to the Bank of America Equity Plan was approved with over 4.25 billion votes in favor. Key changes included an increase of 100 million shares authorized for grants, a $1 million annual cap on director compensation (including cash fees), and a two-year extension of the plan’s expiration to April 21, 2035. The plan otherwise remains largely unchanged.

CEO Brian Moynihan and all current board members were re-elected, with individual support levels ranging from 87% to 99% of votes cast, excluding abstentions and broker non-votes. The proposal to ratify PricewaterhouseCoopers LLP as the independent auditor for 2025 received overwhelming approval, garnering over 6 billion votes in favor.

The advisory “Say on Pay” resolution passed, though with significant opposition—approximately 26% of shares voted against the measure.

In contrast, shareholders decisively rejected eight shareholder proposals. These included requests for increased board candidate nominations, enhanced reporting on animal welfare oversight, alignment of lobbying activities with climate goals, and disclosure of energy financing ratios. Each proposal failed to secure meaningful support, with the highest approval level reaching just under 17%.

The voting results affirm continued shareholder confidence in Bank of America’s leadership, governance framework, and compensation strategy, while signaling limited investor appetite for the submitted shareholder activism initiatives.

Bank of America to Redeem €1.25 Billion Senior Notes

Bank of America announced it will redeem all €1.25 billion outstanding of its 0.808% Fixed/Floating Rate Senior Notes due May 9, 2026. The redemption will occur on May 9, 2025.

Key details:

- Redemption price: €1,000 per €1,000 note plus accrued interest up to, but not including, May 9, 2025.
- Notes will no longer accrue interest after the redemption date.
- The redemption will be processed through Euroclear and Clearstream systems.
- Citibank, N.A., London Branch is the Principal Agent; Citibank Europe plc is the Registrar.
- Bank of America will seek delisting of the Notes from the London Stock Exchange after redemption.

The Notes were issued under the company’s $65 billion Euro Medium-Term Note Program.

Bank of America reported 1Q25 net income of $7.4 billion, or $0.90 per share, up from $0.76 a year ago.

Revenue rose 6% to $27.4 billion, driven by higher net interest income of $14.4 billion and growth across all business segments. Credit loss provisions were $1.5 billion, flat quarter-over-quarter.

Average deposits reached $1.96 trillion, up 3%, and average loans grew 4% to $1.09 trillion. The CET1 capital ratio stood at 11.8%. The bank returned $6.5 billion to shareholders, including $4.5 billion in buybacks.

Book value per share rose 8% to $36.39; return on equity was 10.4%, return on tangible equity 13.9%.

Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the preferred stocks

Bank of America Announces Redemptions of $500,000,000 Floating Rate Senior Notes and $3,000,000,000 3.384% Fixed/Floating Rate Senior Notes, Due April 2026

Wall Street is starting to trim jobs as economic uncertainties mount

Morgan Stanley, Goldman Sachs, and Bank of America are beginning workforce reductions that affect various parts of their operations.

Bank Of America Alerts Customers To Data Breach, Offers Identity Theft Protection For Affected Accounts (CORRECTED)

Editor’s Note: The headline has been updated to correct an earlier reference to the scale of Bank of America’s data breach. Bank of America Corp (NYSE:BAC) has issued a warning to a select group of customers about a possible data breach. The breach could have potentially exposed sensitive data, including personal details and Social Security numbers. What Happened: The Bank of America has alerted a small group of its customers about a data breach that may have exposed confidential information. Th

Exclusive-Bank of America eliminates some investment banking roles, sources say

NEW YORK (Reuters) -Bank of America eliminated some investment banking roles on Monday, including in New York, according to three sources familiar with the situation who declined to be identified discussing personnel matters. The cuts affected junior bankers, including analysts and associates, the three sources said. The small number of employees whose jobs were trimmed could be redeployed in comparable positions elsewhere in the company, one of the sources said.

Bank of America announced it will redeem all CAD 400 million in outstanding Floating Rate Senior Notes due March 2026 on March 16, 2025. The redemption price will be 100% of the principal amount plus accrued interest. Since March 16 is not a business day, payment will be made on March 17, 2025. Interest on the notes will cease to accrue after the redemption date. The Bank of New York Mellon Trust Company, N.A. is the trustee, and BNY Trust Company of Canada is the paying agent.

Bank of America has announced that it will redeem all outstanding CAD 550 million principal amount of its 3.515% Fixed/Floating Rate Senior Notes due March 2026. The redemption will take place on March 24, 2025, at a price equal to 100% of the principal amount, plus accrued and unpaid interest up to but excluding the redemption date. Interest on the notes will cease to accrue after this date.

The redemption payments will be processed through CDS Clearing and Depository Services Inc., with The Bank of New York Mellon Trust Company, N.A. serving as the trustee and BNY Trust Company of Canada acting as the paying agent.

Bank of America Announces Redemption of $1,500,000,000 2.015% Fixed/Floating Rate Senior Notes, Due February 2026

Bank of America Names Maria Martinez to Board of Directors

Trump airs conservative complaints that Bank of America, JPMorgan deny services

U.S. President Donald Trump on Thursday accused the CEOs of Bank of America and JPMorgan Chase of not providing banking services to conservatives, echoing Republican complaints about the industry. The broadside against Wall Street banks comes after some institutions have been accused by both congressional Republicans and Republican-led states of "woke capitalism" as well as de-banking gunmakers, fossil fuel companies and others perceived to be aligned with the political right. "I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America," said Trump, who returned to the White House on Monday.

Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment Banking Fees

Bank of America Corp (NYSE:BAC) reported a fourth-quarter fiscal 2024 net income of $6.7 billion (versus $3.1 billion a year ago) and EPS of $0.82, beating the analyst consensus estimate of $0.77. Revenue, net of interest expense, increased 15.0% year over year to $25.35 billion, beating the analyst consensus estimate of $25.19 billion. Higher asset management, investment banking fees, and sales and trading revenue drove the growth. Also Read: Banks And Business Groups Challenge Fed’s Stress Tes

Bank of America Securities Reaffirms Their Buy Rating on Albemarle (ALB) | Markets Insider

Bank of America Securities analyst Steve Byrne maintained a Buy rating on Albemarle (ALB – Research Report) today. The company’s shares closed y...

Bank of America reported fourth-quarter 2024 net income of $6.7 billion, or $0.82 per diluted share, compared to $3.1 billion, or $0.35 per diluted share, in the fourth quarter of 2023. Revenue for the quarter increased to $25.3 billion, up 15%, driven by growth in asset management and investment banking fees, sales and trading revenue, and higher net interest income (NII). NII reached $14.4 billion, a 3% increase from both the previous quarter and the same quarter last year, supported by fixed-rate asset repricing and loan growth.

Provision for credit losses was $1.5 billion, slightly higher than the previous quarter and up from $1.1 billion a year earlier. Noninterest expense decreased by 5% to $16.6 billion due to the absence of the 2023 FDIC special assessment expense, despite increased spending on personnel, technology, and branding.

Consumer Banking reported net income of $2.8 billion, driven by $10.6 billion in revenue and strong deposit balances averaging $942 billion, though down slightly from the prior quarter. Client activity was robust, with 213,000 new checking accounts opened, $1.9 trillion in consumer investments, and $1.1 trillion in payments, reflecting 6% growth.

Global Wealth and Investment Management saw net income of $1.2 billion, a 15% increase, fueled by higher market levels and flows in assets under management (AUM), which totaled $1.9 trillion, up 16%.

Global Banking reported $2.1 billion in net income, supported by record investment banking fees of $1.7 billion, a 44% increase, and a 10% growth in average deposits to $582 billion.

Global Markets recorded $941 million in net income as trading revenue increased by 13% to $4.1 billion, driven by gains in fixed income, commodities, and equities.

Balance sheet highlights included a 3% increase in average deposits to $1.96 trillion and loans at $1.08 trillion. The Common Equity Tier 1 (CET1) capital ratio improved to 11.9%, exceeding regulatory minimums. Bank of America returned $5.5 billion to shareholders through dividends and share repurchases, with book value per share rising 7% to $35.79. CEO Brian Moynihan emphasized the bank's strong performance in capital and liquidity, positioning it well for growth in 2025.

Jim Cramer Expects Bank of America Corporation (BAC) To Perform Well

We recently compiled a list of the Jim Cramer’s Game Plan: 12 Stocks in Focus This Week. In this article, we are going to take a look at where Bank of America Corporation (NYSE:BAC) stands against the other stocks featured in Jim Cramer’s game plan. Jim Cramer, the host of Mad Money, recently discussed some of […]

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