Bank of America (BAC) Scheduled to Post Quarterly Earnings on Wednesday
Bank of America (NYSE:BAC) is scheduled to be posting its Q114 quarterly earnings results on Wednesday, April 16th. Analysts expect Bank of America to post earnings of $0.05 per share and revenue of $22.38 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.
Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.02. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.28 billion. During the same quarter last year, the company posted $0.03 earnings per share. Bank of America’s revenue was up 14.9% compared to the same quarter last year. On average, analysts expect Bank of America to post $1.08 EPS for the current fiscal year and $1.59 EPS for the next fiscal year.
Bank of America (NYSE:BAC) opened at 16.00 on Tuesday. Bank of America has a 52 week low of $11.23 and a 52 week high of $18.03. The stock has a 50-day moving average of $16.91 and a 200-day moving average of $15.83. The company has a market cap of $169.1 billion and a price-to-earnings ratio of 17.46. Bank of America also was the target of a significant drop in short interest during the month of January. As of March 31st, there was short interest totalling 111,575,739 shares, a drop of 6.6% from the March 14th total of 119,508,930 shares. Based on an average trading volume of 109,728,457 shares, the short-interest ratio is currently 1.0 days. Approximately 1.1% of the company’s shares are sold short.
A number of research firms have recently commented on BAC. Analysts at Societe Generale reiterated a “buy” rating on shares of Bank of America in a research note on Tuesday, April 8th. They now have a $19.50 price target on the stock, down previously from $20.00. On the ratings front, analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Bank of America in a research note on Thursday, March 27th. Finally, analysts at Atlantic Securities downgraded shares of Bank of America from an “overweight” rating to a “neutral” rating in a research note on Monday, March 24th. They now have a $18.50 price target on the stock, down previously from $20.00. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.69.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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