BAC rewarded patient investors over the last decade, turning a $10,000 stake into $54,069 as Moynihan delivered a Q2 2026 EPS beat with 34% year-over-year earnings growth.
Over 10 years BAC crushed SPY with 441% versus 244% returns, though full-tenure holders since Moynihan's 2010 start still trail the index.
Trading at $61.27 against a consensus target of $68.02, with NII guidance raised to between 6% and 8% growth, BAC's earnings momentum supports a bullish near-term case.
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When Bank of America (NYSE:BAC) named Brian Moynihan CEO on January 1, 2010, he took over a bank still reeling from the Countrywide and Merrill Lynch acquisitions, tens of billions in looming legal settlements, and a shredded balance sheet. His first years were a grind: settle the litigation, sell non-core assets, cut costs (Project New BAC), and rebuild capital. The dividend told the story. From 2011 through 2013, BofA paid just $0.01 per quarter.
What followed was a slow-compounding turnaround built on "responsible growth," digital investment (50 million active digital banking users and the Erica assistant), and disciplined capital returns. In Q2 2026, the bank returned $8.0 billion to shareholders, EPS came in at $1.21 versus $1.12 consensus, and Moynihan said, "The team delivered one of our strongest quarters to date, with earnings per share up 34% year-over-year."
Here is how a $10,000 investment in Bank of America has fared versus the S&P 500 (via SPY) across the standard horizons, plus the full Moynihan tenure.
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The full-tenure number is the true scorecard: the stock lagged the index because the first half of Moynihan's run was a repair job. Holders had to endure the 2011 European debt scare, mortgage litigation, and years of near-zero dividends. Zoom in, and the picture flips. Over the past decade, shares have crushed the market, helped by rate normalization, a record trading franchise, and aggressive buybacks.
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