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13. Bank of America Corp.
Bank of America Corp.
Financials: Latest Results
Rank: 13 (Previous rank: 9)
CEO: Brian T. Moynihan
Was this company a 2011 top stock?

Bank of America executives may well remember 2011 as the year of the $5 debit fee. To make up for lost revenue due to new bank regulations, the Charlotte, N.C.-based bank instituted a $5 monthly fee for customers using debit cards. The move sparked a consumer revolt, even as other banks followed suit. Just about a month later, BofA succumbed to the pressure and backed off its new fees.

BofA shares took a nosedive in 2011, down 60%, before rebounding earlier this year. The bank still faces a litany of lawsuits, mostly relating to mortgages at its Countrywide business unit. In September the company announced plans to eliminate 30,000 jobs, or 10% of its workforce. So far the cost-cutting seems to be helping -- in the second quarter of this year, Bank of America reported that net income more than doubled from the same period last year.

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Key financials $ millions % change
from 2010
Revenues 115,074.0 -14.2
Profits 1,446.0 N.A.
Assets 2,129,046.0
Stockholders' equity 230,101.0
Market value (3/29/2012) 102,279.7
Profits as % of  
Revenues 1.3
Assets 0.1
Stockholders' equity 0.6
Earnings per share  
2011 $ 0.01
% change from 2010 N.A.
2001-2011 annual growth rate % -41.4
Total return to investors %
2011 -58.1
2001-2011 annual rate -13.0
Rank Company 500
rank
Revenues
($ millions)
1 Bank of America Corp. 13 115,074.0
2 J.P. Morgan Chase & Co. 16 110,838.0
3 Citigroup 20 102,939.0
4 Wells Fargo 26 87,597.0
5 Morgan Stanley 68 39,376.0
6 Goldman Sachs Group 80 36,793.0
7 American Express 95 32,282.0
8 U.S. Bancorp 132 21,399.0
9 Capital One Financial 148 18,525.0
10 PNC Financial Services Group 165 15,820.0
11 Bank of New York Mellon Corp. 166 15,804.0
12 Ally Financial 201 13,642.0
13 State Street Corp. 262 10,207.0
14 BB&T Corp. 267 9,998.0
15 SunTrust Banks 271 9,602.0
16 Discover Financial Services 300 8,550.3
17 Regions Financial 343 7,427.0
18 Fifth Third Bancorp 372 6,673.0
19 CIT Group 489 4,855.3
20 KeyCorp 499 4,780.0
Issue date: May 21, 2012
Galleries and more
Headquarters
MAPS
Bank of America Corp.
100 N. Tryon St.
Charlotte, NC 28255
704-386-5681
www.bankofamerica.com
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Fortune 500+
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Rank # of Fortune 500 Companies
California 53
Texas 52
New York 50
Company Rank
Google 73
NetApp 474
NuStar Energy 377
Company 2011 $ (millions)
Exxon $41,060.0
Chevron $26,895.0
Apple $25,922.0
FAQ and methodology
Included in the survey are U.S. incorporated companies filing financial statements with a government agency. This includes private companies... More
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