Update: Bank of America

November 8, 2023 | Premium Service | In this edition of the Institutional Risk Analyst, we return to Bank of America (BAC) and take a look at the bank’s Q3 2023 results. BAC has been trading near the bottom of the top-five US depositories, though thankfully above Citigroup (C) at 0.4x book value. BAC is trading at 0.8x book value, but is actually underperforming Citi in terms of total return for the past year. Our bank surveillance list is shown below.

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