Seaport Res Ptn Comments on Bank of America Q1 Earnings

Bank of America Corporation (NYSE:BAC) – Equities researchers at Seaport Res Ptn issued their Q1 2027 EPS estimates for shares of Bank of America in a note issued to investors on Monday, November 3rd. Seaport Res Ptn analyst J. Mitchell forecasts that the financial services provider will earn $1.18 per share for the quarter. The consensus estimate for Bank of America’s current full-year earnings is $3.70 per share. Seaport Res Ptn also issued estimates for Bank of America’s Q2 2027 earnings at $1.35 EPS and Q3 2027 earnings at $1.38 EPS.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird increased their target price on Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Barclays increased their price objective on shares of Bank of America from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Ameriprise Financial upgraded shares of Bank of America to a “buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group cut their price target on shares of Bank of America from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Finally, Wells Fargo & Company increased their price target on shares of Bank of America from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $57.59.

Bank of America Stock Performance

Bank of America stock opened at $53.56 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $396.68 billion, a P/E ratio of 14.59, a PEG ratio of 1.99 and a beta of 1.33. The stock’s 50 day moving average is $51.18 and its 200 day moving average is $47.31. Bank of America has a twelve month low of $33.06 and a twelve month high of $54.00.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $28.09 billion for the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share.

Hedge Funds Weigh In On Bank of America

A number of institutional investors and hedge funds have recently modified their holdings of the company. Boston Common Asset Management LLC lifted its position in shares of Bank of America by 10.5% in the second quarter. Boston Common Asset Management LLC now owns 259,680 shares of the financial services provider’s stock valued at $12,288,000 after acquiring an additional 24,740 shares in the last quarter. Disciplined Investments LLC purchased a new position in Bank of America in the 2nd quarter worth approximately $217,000. Nicholas Hoffman & Company LLC. lifted its holdings in Bank of America by 121.0% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 62,041 shares of the financial services provider’s stock worth $2,589,000 after purchasing an additional 33,963 shares in the last quarter. Sunbeam Capital Management LLC lifted its holdings in Bank of America by 7.3% in the 2nd quarter. Sunbeam Capital Management LLC now owns 6,476 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 439 shares in the last quarter. Finally, CCG Wealth Management LLC purchased a new position in shares of Bank of America in the second quarter worth $287,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 5th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.12 annualized dividend and a yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 30.52%.

Bank of America declared that its board has approved a stock repurchase program on Wednesday, July 23rd that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Bank of America

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.