Capital AllocationBAC
Bank of America's Trading Windfall Masks a Capital Allocation Story Worth 20% More
BAC trades at 13.8x earnings — a 25% discount to JPMorgan — despite posting a 41.6% operating margin and $30.5 billion in net income. The discount is a mispricing, and the $40 billion trading quarter is about to prove it.
Apr 13, 2026