Equities analysts expect Bank of America Corp (NYSE:BAC) to report $0.44 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Bank of America’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.41. Bank of America reported earnings per share of $0.40 during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, January 17th.

According to Zacks, analysts expect that Bank of America will report full-year earnings of $1.79 per share for the current financial year, with EPS estimates ranging from $1.75 to $1.83. For the next fiscal year, analysts forecast that the business will report earnings of $2.30 per share, with EPS estimates ranging from $2.06 to $2.60. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Bank of America.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share.

A number of brokerages have issued reports on BAC. Vetr lowered shares of Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price target on the stock. in a research note on Wednesday, January 10th. Societe Generale downgraded Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. BMO Capital Markets reissued a “hold” rating and set a $31.00 price objective on shares of Bank of America in a research report on Monday, January 8th. Credit Suisse Group raised Bank of America to an “outperform” rating and boosted their price objective for the stock from $32.00 to $35.00 in a research report on Thursday, January 4th. Finally, Instinet lowered their price objective on Bank of America from $37.00 to $30.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $29.14.

Shares of Bank of America (NYSE:BAC) opened at $31.19 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $325,330.00, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. Bank of America has a one year low of $22.01 and a one year high of $31.20.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, November 30th. Bank of America’s dividend payout ratio (DPR) is 27.91%.

Bank of America declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gateway Advisory LLC boosted its holdings in shares of Bank of America by 0.4% in the second quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 45 shares during the period. Arbor Investment Advisors LLC boosted its holdings in shares of Bank of America by 0.3% in the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 46 shares during the period. Lbmc Investment Advisors LLC boosted its holdings in shares of Bank of America by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 51 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in shares of Bank of America by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 14,402 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 54 shares during the period. Finally, Altavista Wealth Management Inc. boosted its holdings in shares of Bank of America by 0.7% in the second quarter. Altavista Wealth Management Inc. now owns 10,199 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 68 shares during the period. 68.46% of the stock is owned by hedge funds and other institutional investors.

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Bank of America Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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Earnings History and Estimates for Bank of America (NYSE:BAC)

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