Bank of America Co. (NYSE:BAC) issued its earnings results on Tuesday. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06, Briefing.com reports. The company had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share.
Bank of America Trading Up 1.5 %
Shares of NYSE:BAC opened at $35.77 on Friday. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $38.35. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 1.12. The company has a market cap of $282.25 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.39. The stock has a 50 day moving average of $35.61 and a 200 day moving average of $32.24.
Bank of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.68%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several research firms recently weighed in on BAC. UBS Group reiterated a “neutral” rating and issued a $40.00 price target (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Barclays lifted their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Jefferies Financial Group lifted their price target on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. HSBC reiterated a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, Citigroup lifted their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Bank of America has a consensus rating of “Hold” and a consensus price target of $38.29.
Get Our Latest Stock Analysis on BAC
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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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