A booming year for banks boosted Bank of America, which saw its stock surge nearly 40% over the course of 2021 as it racked up $22 billion in profit. Rising asset-management and brokerage fees helped grow the bank’s wealth management division’s revenue 16%, to $5.6 billion. Mergers and acquisitions were also fruitful in 2021, especially in the auto industry, where BofA advised on more deals by value than any other bank—$16.4 billion. The bank has been able to keep finances steady in a rocky 2022 by tapping into reserves built up during the pandemic to protect against loan defaults.
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Company Information

As of 2/1/2023
Country
U.S.
Headquarters
Charlotte, N.C.
Industry
Megabanks
CEO
Brian T. Moynihan
Company Type
Public
Ticker
BAC
Revenues ($M)
$115,053
Profits ($M)
$27,528
Market Value ($M)
$270,691
Employees
216,823
Figures are for fiscal year ended Dec. 31, 2022. Market value as of Jan. 20, 2023. Sources: Bloomberg; S&P Global.

Key Financials (Last Fiscal Year)

$ millions
% change
Revenues ($M)
$93,851
0.1%
Profits ($M)
$31,978
78.7%
Assets ($M)
$3,169,495
-
Total Stockholder Equity ($M)
$270,066
-

Profit Ratios

Profit as % of Revenues
34.1%
Profits as % of Assets
1%
Profits as % of Stockholder Equity
11.8%

Earnings Per Share (Last Fiscal Year)

Earnings Per Share ($)
357
EPS % Change (from 2020)
90.9%
EPS % Change (5 year annual rate)
18.9%
EPS % Change (10 year annual rate)
80%

Total Return

Total Return to Investors (2021)
49.5%
Total Return to Investors (5 year, annualized)
17.5%
Total Return to Investors (10 year, annualized)
24.9%

Bank of America Rank History

Historical Data

YearRevenues ($M)Profits ($M)Assets ($M)Total Stockholder Equity ($M)
2021$93,753-17.5%$17,894-34.8%$2,819,627$272,924
2020$113,5892.7%$27,430-2.5%$2,434,079$264,810
2019$110,58410.3%$28,14754.4%$2,354,507$265,325
2018$100,2647%$18,2321.8%$2,281,234$267,146
2017$93,6620.7%$17,90612.7%$2,187,702$266,840
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