Independent equity research
Is Bank of America (BAC) a Buy, Hold or Sell?
Bank of America — our independent, AI-built valuation and rating, in brief.
HOLD
12-mo fair value
$60.00
To fair value
−3%
Report dated 2026-07-20 · fair value derived independently of the market price.
The thesis, in brief
Superb deposit franchise executing well (record NII, 17% ROTCE) but re-rated to 2.07x tangible book, 99th pctile of its 3-yr range — a peak return priced as permanent. Fairly valued
How we value it
We value Bank of America using Justified 2.0x P/TBV on ~16% ROTCE + excess-return. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalization
- ROTCE vs cost of equity
- Balance-sheet safety & capital (CET1)
- P/TBV + excess-return / residual-income
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full Bank of America report
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