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Here's How Much Investing $1,000 In Bank Of America Stock 5 Years Ago Would Be Worth Today

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Here's How Much Investing $1,000 In Bank Of America Stock 5 Years Ago Would Be Worth Today

Investors who owned stocks since 2016 generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return in the past five years is 120.4%. But there’s no question some big-name stocks performed better than others along the way.

Bank of America’s Big Run: One market leader of the past five years was Bank of America Corp (NYSE: BAC).

Big banks were crushed during the worst of the financial crisis in 2008 and 2009. Among the banks that survived the crisis, Bank of America was one of the hardest-hit. In fact, Bank of America shares dropped as low as $2.53 in early 2009 as investors questioned whether the company could avoid bankruptcy or total nationalization.

By the beginning of 2016, Bank of America shares had worked their way all the way back up to around $16.45. Within months, the stock hit its low point of the past five years, dropping down to $10.99 following a bout of early-2016 volatility related to concerns over an economic slowdown in China.

Bank of America then went on a tear for the remainder of 2016, more than doubling off its lows to around $23 by the end of the year. The stock made it to $33.05 by early 2018 before stalling out for roughly a year and a half.

Related Link: Here's How Much Investing $1,000 In JPMorgan Stock 5 Years Ago Would Be Worth Today

Bank of America In 2021, Beyond: Bank of America shares broke out to the upside again in the closing months of 2019, surging to new highs of $35.72 before the COVID-19 sell-off pushed the stock back down to $17.95 in early 2020.

Since then, Bank of America shares have regained nearly all of their lost ground and are currently trading at around $33.

Bank of America investors who held on through a volatile few years were rewarded for their patience, and $1,000 worth of Bank of America stock bought in 2016 would be worth about $2,518 today, assuming reinvested dividends.

Looking ahead, analysts expect Bank of America to take a breather in the next 12 months. The average price target among the 24 analysts covering the stock is $33.50, suggesting only 1.5% upside from current levels.

Photo credit: Mike Mozart, Flickr

 

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