Bank of America (BAC) Getting Somewhat Positive News Coverage, Study Shows

Media headlines about Bank of America (NYSE:BAC) have trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Bank of America earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 46.7408736093356 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:

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NYSE BAC traded up $0.24 during trading on Monday, reaching $29.87. The company’s stock had a trading volume of 65,908,834 shares, compared to its average volume of 74,936,656. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $303,520.53, a P/E ratio of 16.32, a P/E/G ratio of 1.49 and a beta of 1.37. Bank of America has a 12 month low of $22.07 and a 12 month high of $33.05.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. The firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $21.61 billion. Bank of America had a net margin of 18.03% and a return on equity of 8.54%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. equities analysts expect that Bank of America will post 2.48 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, March 1st. Bank of America’s dividend payout ratio is currently 26.23%.

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price objective on shares of Bank of America in a research report on Thursday. Vetr raised shares of Bank of America from a “buy” rating to a “strong-buy” rating and set a $34.96 price objective for the company in a research report on Friday, March 23rd. Credit Suisse Group lifted their price objective on shares of Bank of America from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, March 16th. Zacks Investment Research downgraded shares of Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Bank of America from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.97.

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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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