Equities analysts expect Bank of America Corp (NYSE:BAC) to post earnings per share (EPS) of $0.73 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Bank of America’s earnings. The lowest EPS estimate is $0.70 and the highest is $0.75. Bank of America posted earnings of $0.70 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, April 21st.
On average, analysts expect that Bank of America will report full-year earnings of $3.05 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.15. For the next financial year, analysts anticipate that the business will report earnings of $3.29 per share, with EPS estimates ranging from $3.16 to $3.48. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Bank of America.
Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22.30 billion. Bank of America had a return on equity of 11.95% and a net margin of 24.15%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS.
BAC has been the topic of several recent research reports. Credit Suisse Group raised their price target on Bank of America from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Odeon Capital Group raised Bank of America from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Argus reissued a “buy” rating and issued a $39.00 price target (up previously from $35.00) on shares of Bank of America in a report on Wednesday, January 15th. Barclays raised Bank of America from an “equal weight” rating to an “overweight” rating and set a $43.00 price target on the stock in a report on Monday, January 6th. Finally, DA Davidson started coverage on Bank of America in a research report on Wednesday, January 8th. They issued a “neutral” rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $35.29.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arjuna Capital increased its position in shares of Bank of America by 1.9% during the 2nd quarter. Arjuna Capital now owns 51,588 shares of the financial services provider’s stock valued at $1,496,000 after purchasing an additional 956 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Bank of America by 3.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 4,370,138 shares of the financial services provider’s stock valued at $126,734,000 after purchasing an additional 144,700 shares during the period. AQR Capital Management LLC increased its position in shares of Bank of America by 24.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,331,450 shares of the financial services provider’s stock valued at $67,612,000 after purchasing an additional 464,763 shares during the period. Vivaldi Capital Management LLC increased its position in shares of Bank of America by 10.0% during the 2nd quarter. Vivaldi Capital Management LLC now owns 9,094 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 830 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Bank of America during the 2nd quarter valued at $218,000. Hedge funds and other institutional investors own 69.21% of the company’s stock.
Shares of NYSE BAC traded down $0.58 during mid-day trading on Friday, hitting $33.54. The company had a trading volume of 47,780,779 shares, compared to its average volume of 47,323,387. The stock has a market cap of $301.70 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.25 and a beta of 1.64. Bank of America has a 12 month low of $26.21 and a 12 month high of $35.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.91 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $34.71 and its two-hundred day simple moving average is $31.10.
Bank of America Company Profile
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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