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Bank of America Co. ((NYSE:(BA))C) – Research analysts at Seaport Global Securities raised their FY2020 EPS estimates for Bank of America in a research note issued on Tuesday, January 5th. Seaport Global Securities analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $1.82 for the year, up from their previous estimate of $1.74. Seaport Global Securities also issued estimates for Bank of America‘s Q4 2020 earnings at $0.54 EPS, Q1 2021 earnings at $0.50 EPS, Q2 2021 earnings at $0.56 EPS, FY2021 earnings at $2.15 EPS and FY2022 earnings at $2.70 EPS.
(BA)C has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of America from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada set a $28.00 price target on shares of Bank of America and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $36.00 in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Bank of America from $26.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Finally, Credit Suisse Group increased their price objective on shares of Bank of America from $31.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, December 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.58.
Bank of America stock opened at $32.15 on Thursday. Bank of America has a 12-month low of $17.95 and a 12-month high of $35.67. The stock has a market capitalization of $278.12 billion, a P/E ratio of 14.87, a P/E/G ratio of 2.03 and a beta of 1.59. The firm’s 50-day moving average is $28.97 and its two-hundred day moving average is $25.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.87 and a quick ratio of 0.87. Bank of America ((NYSE:(BA))C) last announced its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). The company had revenue of $20.30 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Bank of America had a net margin of 19.50% and a return on equity of 8.00%. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 24th. Stockholders of record on Friday, December 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.24%. Bank of America‘s dividend payout ratio is presently 24.49%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Woodstock Corp grew its stake in shares of Bank of America by 4.6% during the fourth quarter. Woodstock Corp now owns 157,664 shares of the financial services provider’s stock valued at $4,779,000 after buying an additional 6,951 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of Bank of America in the fourth quarter worth about $364,000. Private Trust Co. NA grew its stake in shares of Bank of America by 3.9% in the fourth quarter. Private Trust Co. NA now owns 137,051 shares of the financial services provider’s stock worth $4,154,000 after purchasing an additional 5,127 shares during the last quarter. Headinvest LLC grew its stake in shares of Bank of America by 2.1% in the third quarter. Headinvest LLC now owns 15,990 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 335 shares during the last quarter. Finally, Wealth Advisory Solutions LLC grew its stake in shares of Bank of America by 3.6% in the third quarter. Wealth Advisory Solutions LLC now owns 20,875 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 68.17% 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 Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets segments.
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