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- Like any publicly traded company, Bank of America is owned by its shareholders. The Charlotte, North Carolina-based financial institution is the second-largest bank in the U.S., with roughly $2.45 trillion in assets at the end of 2023, second only to JPMorgan Chase (JPM 1.65%).
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The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan.
Apr 15, 2024 · BlackRock owns over 491 million Bank of America shares, or 6.2% of its outstanding common stock. Its iShares Core S&P 500 ETF ( IVV 0.62% ) owns about 0.9% of Bank of America's shares.
- Overview
- Top 3 Individual Insider Shareholders
- Top 3 Institutional Shareholders
- How Much Does Bank of America Manage?
- How Many Customers Does Bank of America Have?
- What Is the Minimum Monthly Balance for a Bank of America Account?
- The Bottom Line
Bank of America Corp. (
) is one of the leading banks in the U.S. and one of the world's largest financial institutions. It offers a range of financial products and services, including saving accounts, deposits, mortgage loans, cash and wealth management, investment funds, insurance, and more.
through four key business segments: Consumer Banking; Global Wealth & Investment Management; Global Banking; and Global Markets.
The top shareholders of Bank of America are Paul F. Donofrio, Brian T. Moynihan, Geoffrey S. Greener, Berkshire Hathaway Inc. (
), Vanguard Group Inc., and BlackRock Inc. (
Bank of America's 12-month trailing net income and revenue are $26.5 billion and $98.6 billion, respectively. The company's
The largest individual shareholders of Bank of America are company insiders, like executives and members of the board. The following list shows only shares that are directly owned, not restricted stock units or options.
Brian Moynihan owns a total of 2.4 million Bank of America shares, representing 0.03% of the company’s total shares outstanding. Mr. Moynihan is
of the board and chief executive officer (
). Before becoming CEO in 2010, Moynihan directed virtually every major segment of the bank's business, including consumer and small business banking, investment banking, and wealth management.
He joined Fleet Boston Financial as the company's deputy general counsel in 1993, before leading the firm's brokerage and wealth management business operations. Following a 2004 merger of Fleet Boston with Bank of America, Moynihan assumed the position of president of wealth and investment management at the bank, then was promoted to a series of executive positions before rising to CEO.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
hold approximately 68% of Bank of America's total shares outstanding.
Berkshire Hathaway owns 1.03 billion shares of Bank of America, representing 13.1% of total shares outstanding, according to the company's 13F filing. Berkshire Hathaway is a diversified holding company that owns major subsidiaries involved in insurance, rail transportation, energy, and retailing. The company also owns a sizable investment portfolio that includes shares of major U.S. corporations. The value of Bank of America shares in Berkshire’s portfolio is $35 billion. The company reported about $347 billion of managed 13F securities as of Q4 2023.
Vanguard Group owns 608 million shares of Bank of America, representing 7.7% of total shares outstanding, according to the company's 13F filing. The company is primarily a mutual fund and ETF management company with about $7.6 trillion in global AUM. The Vanguard S&P 500 ETF (
) is one of the company's largest exchange-traded funds (
In 2023, Bank of America had just over $3.05 trillion on its balance sheets. This included $1.9 trillion of customer deposits, with the remainder accounting for loans, securities and investments.
Bank of America had 44 million active digital customers at the end of the 2022 fiscal year, according to the bank's 2023 annual report.
The Bank of America Advantage Savings Account has a monthly maintenance fee of $8.00. According to the bank, you can avoid this fee if one of the account owners is under age 25, if you keep the balance higher than $500, if you are enrolled in the bank's Preferred Rewards program, or if the account is linked into certain other BofA accounts.
Bank of America is one of the largest consumer banks in the United States, with over $3 trillion in assets. The largest shareholder is Berkshire Hathaway, along with fund managers like BlackRock and Vanguard.
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6 days ago · Bank of America is headquartered in Charlotte, North Carolina. The bank’s history dates to 1904 when Amadeo Peter Giannini opened the Bank of Italy in San Francisco. It eventually developed into the Bank of America and was for a time owned by Giannini’s holding company, Transamerica Corporation.
May 16, 2024 · Merrill Lynch, U.S. Trust, Countrywide Financial, FleetBoston Financial, LaSalle Bank, and Axia Technologies are companies owned by Bank of America.
Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp.
Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (“BofA Corp.”).
