Bank Historical Income Statement
| BOFA Stock | 22.99 0.46 2.04% |
Historical analysis of Bank of America income statement accounts such as Net Interest Income of 53.8 B, Interest Income of 82.1 B or Interest Expense of 77 B can show how well Bank of America performed in making a profits. Evaluating Bank of America income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Bank of America's future profits or losses.
Bank of America Net Income |
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About Bank Income Statement Analysis
Bank of America Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Bank of America shareholders. The income statement also shows Bank investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).
Bank of America Income Statement Chart
Tax Provision
The amount set aside by a company to cover any estimated taxes for the current period. It reflects the company's expected tax liabilities.Total Revenue
Total revenue comprises all receipts Bank of America generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Bank of America. It is also known as Bank of America overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Net Income Applicable To Common Shares
The net income that remains after preferred dividends have been deducted, available to common shareholders.Most accounts from Bank of America's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Bank of America current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bank of America. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. For information on how to trade Bank Stock refer to our How to Trade Bank Stock guide.At present, Bank of America's Interest Expense is projected to increase significantly based on the last few years of reporting. The current year's Selling General Administrative is expected to grow to about 48.8 B, whereas Interest Income is forecasted to decline to about 82.1 B.
| 2021 | 2022 | 2023 | 2024 (projected) | Net Interest Income | 42.9B | 52.5B | 56.9B | 53.8B | Tax Provision | 2.0B | 3.4B | 1.8B | 2.2B |
Bank of America income statement Correlations
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Bank of America Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Bank of America
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bank of America position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bank of America will appreciate offsetting losses from the drop in the long position's value.Moving together with Bank Stock
Moving against Bank Stock
| 0.81 | IAU | i 80 Gold | PairCorr |
| 0.66 | TD | Toronto Dominion Bank | PairCorr |
| 0.65 | AQN | Algonquin Power Utilities | PairCorr |
| 0.39 | T | Telus Corp | PairCorr |
| 0.34 | ENB-PH | Enbridge H Cum | PairCorr |
The ability to find closely correlated positions to Bank of America could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of America when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bank of America - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bank of America to buy it.
The correlation of Bank of America is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of America moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of America moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bank of America can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bank of America. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. For information on how to trade Bank Stock refer to our How to Trade Bank Stock guide.You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..