Bank of America Co. (NYSE:BAC) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06, Briefing.com reports. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis.
Bank of America Trading Up 1.5 %
Shares of BAC stock opened at $35.22 on Thursday. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.35. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average is $35.55 and its two-hundred day moving average is $32.21. The company has a market cap of $277.87 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39.
Bank of America Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.73%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on Bank of America
Institutional Investors Weigh In On Bank of America
Hedge funds and other institutional investors have recently modified their holdings of the stock. Main Street Group LTD acquired a new stake in shares of Bank of America in the fourth quarter worth $186,000. Delta Accumulation LLC grew its stake in shares of Bank of America by 9,029.3% in the fourth quarter. Delta Accumulation LLC now owns 5,295 shares of the financial services provider’s stock worth $175,000 after acquiring an additional 5,237 shares during the last quarter. Pacific Center for Financial Services acquired a new stake in shares of Bank of America in the first quarter worth $169,000. Turim 21 Investimentos Ltda. lifted its position in Bank of America by 15.5% in the first quarter. Turim 21 Investimentos Ltda. now owns 3,991 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 537 shares during the period. Finally, Retirement Group LLC lifted its position in Bank of America by 161.7% in the fourth quarter. Retirement Group LLC now owns 4,171 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 2,577 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.
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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