Bank of America (BAC) to Release Earnings on Thursday

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Bank of America (NYSE:BAC) will be posting its quarterly earnings results before the market opens on Thursday, April 15th. Analysts expect Bank of America to post earnings of $0.60 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The company had revenue of $20.10 billion during the quarter, compared to analysts’ expectations of $20.76 billion. Bank of America had a return on equity of 8.00% and a net margin of 19.50%. The firm’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, analysts expect Bank of America to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of BAC stock opened at $40.05 on Thursday. Bank of America has a fifty-two week low of $20.10 and a fifty-two week high of $40.28. The firm has a market capitalization of $345.52 billion, a PE ratio of 19.83, a P/E/G ratio of 2.13 and a beta of 1.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $30.45.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 5th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, March 4th. Bank of America’s dividend payout ratio is presently 24.49%.

Bank of America declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 19th that authorizes the company to buyback $2.90 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

A number of brokerages have issued reports on BAC. Deutsche Bank Aktiengesellschaft increased their price target on Bank of America from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. UBS Group set a $30.00 price target on shares of Bank of America and gave the stock a “neutral” rating in a research report on Tuesday, January 19th. Credit Suisse Group increased their price objective on shares of Bank of America from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, January 20th. Smith Barney Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating in a report on Monday, January 11th. Finally, Morgan Stanley increased their price target on Bank of America from $36.00 to $38.00 and gave the company an “underweight” rating in a report on Monday, March 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $34.55.

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 Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets segments.

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Earnings History for Bank of America (NYSE:BAC)

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