Bank of America (NYSE:BAC) will announce its earnings results before the market opens on Monday, April 16th. Analysts expect the company to announce earnings of $0.59 per share for the quarter.
Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $21.61 billion. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, analysts expect Bank of America to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
BAC opened at $29.63 on Monday. The company has a market capitalization of $303,520.53, a P/E ratio of 16.19, a PEG ratio of 1.49 and a beta of 1.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.90 and a current ratio of 0.91. Bank of America has a 1-year low of $22.07 and a 1-year high of $33.05.
The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, March 1st. Bank of America’s payout ratio is currently 26.23%.
A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $35.00 target price on shares of Bank of America in a research note on Thursday. Vetr lowered Bank of America from a “buy” rating to a “hold” rating and set a $34.13 target price on the stock. in a research note on Monday, March 12th. Credit Suisse Group upped their target price on Bank of America from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, March 16th. Societe Generale lowered Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, ValuEngine raised Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $30.97.
Several institutional investors have recently modified their holdings of BAC. Janus Henderson Group PLC lifted its stake in shares of Bank of America by 587.0% during the 2nd quarter. Janus Henderson Group PLC now owns 13,598,678 shares of the financial services provider’s stock worth $329,911,000 after purchasing an additional 11,619,173 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Bank of America by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,136,977 shares of the financial services provider’s stock worth $1,070,762,000 after purchasing an additional 9,612,342 shares during the period. Prudential PLC lifted its stake in shares of Bank of America by 25.2% during the 2nd quarter. Prudential PLC now owns 15,391,334 shares of the financial services provider’s stock worth $373,394,000 after purchasing an additional 3,100,813 shares during the period. Epoch Investment Partners Inc. raised its position in shares of Bank of America by 17.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 14,672,508 shares of the financial services provider’s stock worth $355,954,000 after buying an additional 2,180,041 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC raised its position in shares of Bank of America by 42.4% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 3,400,532 shares of the financial services provider’s stock worth $82,497,000 after buying an additional 1,012,150 shares during the period. 69.84% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.dispatchtribunal.com/2018/04/09/bank-of-america-bac-scheduled-to-post-earnings-on-monday.html.
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.
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.