Bank of America Corp’s (BAC) Online Trading Arm Tops Kiplinger’s Annual ‘Best Online Broker’ Ranking


Kiplinger’s Personal Finance publication awarded Bank of America Corp’s (NYSE:BAC) Merrill Edge a No. 1 ranking in its 2017 Best Online Brokers list in a tie with Fidelity. This accolade highlights Merrill Edge’s commitment to supporting and empowering clients throughout their financial lives by delivering extraordinary service and care.

In the ranking, Merrill Edge earned 4.5 stars out of 5 overall. It received 5 out of 5 stars for its tools and research; 4.5 out of 5 for its mobile platform; and 4 out of 5 stars for total commissions and ease of use.

“We are proud of this ranking from one of the industry’s premier publications,” said Aron Levine, head of Consumer Banking and Merrill Edge. “This ranking demonstrates our commitment to connecting investors to their goals and giving them the flexibility to invest when and how it is convenient for them, no matter where they are in life.”

Merrill Edge also won recognition as the “Best for Active Stock Traders.” Key differentiators contributing to this recognition include the platform’s research and tools, which offer screeners for funds and stocks; Morningstar’s Portfolio X-Ray; and the opportunity for Preferred Rewards clients to receive up to 100 commission-free online stock and ETF trades.

This year, Merrill Edge earned a half star more than last year and moved up from its second-place ranking in the Kiplinger’s Personal Finance 2016 “Best Online Brokers” ranking. In 2017, Merrill Edge has received a number of awards recognizing the firm’s customer service, banking services and research amenities, including the 2017 Barron’s Best Online Broker Survey and 2017 StockBrokers.com Annual Review.

“Receiving this recognition from Kiplinger’s in the same year we launched our new online investing platform, Merrill Edge Guided Investing, is a huge win,” said David Poole, head of Merrill Edge Advisory and Client Services. “We aim to give our clients the best investment tools in the industry, and we’re looking forward to continuing to provide investors the most intuitive and innovative tools to pursue their financial goals.”

Shares of Bank of America are currently trading at $23.73, up $0.27 or 1.15%. BAC has a 1-year high of $25.80 and a 1-year low of $14.81. The stock’s 50-day moving average is $24.15 and its 200-day moving average is $23.87.

On the ratings front, BAC has been the subject of a number of recent research reports. In a report issued on August 25, Baird analyst David George reiterated a Hold rating on BAC, with a price target of $24, which represents a slight upside potential from current levels. On August 23, BMO’s James Fotheringham reiterated a Hold rating on the stock and has a price target of $27.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David George and James Fotheringham have a yearly average return of 8.6% and 15.2% respectively. George has a success rate of 69% and is ranked #710 out of 4621 analysts, while Fotheringham has a success rate of 80% and is ranked #117.

Overall, 3 research analysts have assigned a Hold rating and 9 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $27.5 which is 16.6% above where the stock closed yesterday.

 

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