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Bank of America Corp BAC

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

As Fed Holds Rates Steady, Tapering Debate Looms Large

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

In its latest statement, released on July 28, the Federal Open Market Committee unsurprisingly held the federal-funds rate at 0.0%-0.25%. Nobody expected a change in rates at this meeting, instead the big issue on everyone’s mind relates to the timing of tapering. As a reminder, this meeting contained no new economic projections, only the press release and press conference.

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Company Profile

Business Description

Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, home mortgage lending, vehicle lending, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does U.S. Trust private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries.

Contact
100 North Tryon Street, Bank of America Corporate Center
Charlotte, NC, 28255
T +1 704 386-5681
Sector Financial Services
Industry Banks - Diversified
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 212,000

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