Bank of America (BAC) Scheduled to Post Earnings on Monday

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.

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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.

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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.

Earnings History for Bank of America (NYSE:BAC)

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