This article examines Bank of America Corporation (NYSE:BAC)’s wealth business in Q2 2026, where net income reached $1.41 billion, about 16% of group earnings. Wealth revenue rose 16% to $6.87 billion and pretax margin improved to 27% from 22%, but net client flows were $13.7 billion versus $14.3 billion a year earlier. Most of the $212 billion increase in wealth assets under management came from market valuation changes ($198.3 billion) rather than net inflows. BAC carried an approximately 11x forward P/E in a September snapshot, below roughly 14x for JPMorgan Chase & Co. (NYSE:JPM), though its 17% return on tangible common equity trailed the peer’s 23% after excluding significant investment gains. The article concludes BAC looks fairly valued at 11x forward earnings, and that wealth improves diversification and profitability but is only part of the bank’s exposure.
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