Bank of America Corporation To Sell International Wealth Division

Bank of America Corporation (NYSE:BAC) has put its non-U.S. wealth arm up for sale.

Bank of America Corporation To Sell International Wealth Division

Reuters has reported that Bank of America Corporation (NYSE:BAC) Merrill Lynch has put its wealth management units outside the United States up for sale.

Through this move the bank hopes to bring in up to $3 billion for the sub-scale business.

Bank of America Corporation (NYSE:BAC) is the world’s largest wealth manager, but its non-U.S. arm is not large enough to generate enough money for the bank.

Outside the U.S, Bank of America Corporation (NYSE:BAC) has never been able to build up the business to match the scale of its home market.

Bank of America Corp. (NYSE:BAC) stocks were at 8.92 at the end of the last day’s trading. There’s been a 33.0% movement in the stock price over the past 3 months.

Bank of America Corp. (NYSE:BAC) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.65
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.33
Zack’s Rank: 5 out of 16 in the industry