Bank of America Corp (NYSE:BAC) – Analysis analysts at Piper Sandler lowered their FY2020 EPS estimates for shares of Bank of America in a analysis report issued to purchasers and traders on Thursday, August 27th. Piper Sandler analyst J. Harte now expects that the monetary providers supplier will earn $1.67 per share for the 12 months, down from their earlier estimate of $1.68.
BAC has been the subject of a number of different analysis experiences. Zacks Funding Analysis upgraded shares of Bank of America from a “robust promote” ranking to a “maintain” ranking and set a $26.00 price goal on the stock in a analysis report on Wednesday, May 27th. TheStreet upgraded shares of Bank of America from a “c+” ranking to a “b-” ranking in a analysis report on Tuesday, August 25th. Credit score Suisse Group restated a “purchase” ranking and set a $31.00 price goal on shares of Bank of America in a analysis report on Monday, August third. Morgan Stanley raised their price goal on shares of Bank of America from $23.00 to $24.00 and gave the corporate an “chubby” ranking in a analysis report on Thursday, June 25th. Lastly, Societe Generale upgraded shares of Bank of America from a “maintain” ranking to a “purchase” ranking in a analysis report on Tuesday, July seventh. One analysis analyst has rated the stock with a promote ranking, eleven have issued a maintain ranking and 13 have given a purchase ranking to the corporate’s stock. The stock has a mean ranking of “Maintain” and a mean goal price of $29.47.
NYSE:BAC opened at $26.30 on Monday. The stock has a market capitalization of $227.87 billion, a price-to-earnings ratio of 12.71, a PEG ratio of two.31 and a beta of 1.57. The corporate has a fast ratio of 0.92, a present ratio of 0.93 and a debt-to-equity ratio of 1.08. The agency has a 50 day transferring common of $24.96 and a 200 day transferring common of $25.00. Bank of America has a 52 week low of $17.95 and a 52 week excessive of $35.72.
Bank of America (NYSE:BAC) final issued its earnings outcomes on Thursday, July 16th. The monetary providers supplier reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.09. Bank of America had a internet margin of 19.09% and a return on fairness of 9.11%. The enterprise had income of $22.30 billion for the quarter, in comparison with the consensus estimate of $21.71 billion. Throughout the identical interval within the prior 12 months, the agency earned $0.74 EPS. The corporate’s income for the quarter was down 3.5% in comparison with the identical quarter final 12 months.
A number of institutional traders and hedge funds have just lately made adjustments to their positions in BAC. Ninety One North America Inc. raised its holdings in shares of Bank of America by 0.5% within the 2nd quarter. Ninety One North America Inc. now owns 75,114 shares of the monetary providers supplier’s stock valued at $2,646,000 after buying an extra 387 shares within the final quarter. Truewealth LLC boosted its place in Bank of America by 1.4% through the second quarter. Truewealth LLC now owns 29,756 shares of the monetary providers supplier’s stock worth $707,000 after buying an extra 412 shares over the past quarter. Cypress Wealth Providers LLC boosted its place in Bank of America by 2.7% through the second quarter. Cypress Wealth Providers LLC now owns 17,077 shares of the monetary providers supplier’s stock worth $406,000 after buying an extra 449 shares over the past quarter. Sport Plan Monetary Advisors LLC boosted its place in Bank of America by 3.3% through the first quarter. Sport Plan Monetary Advisors LLC now owns 14,160 shares of the monetary providers supplier’s stock worth $300,000 after buying an extra 450 shares over the past quarter. Lastly, Intersect Capital LLC raised its stake in Bank of America by 1.2% through the second quarter. Intersect Capital LLC now owns 37,679 shares of the monetary providers supplier’s stock worth $895,000 after buying an extra 450 shares through the interval. Institutional traders and hedge funds personal 68.99% of the corporate’s stock.
In different information, main shareholder Berkshire Hathaway Inc purchased 33,902,623 shares of Bank of America stock in a transaction on Wednesday, July 22nd. The shares had been purchased at a mean value of $23.99 per share, with a complete value of $813,323,925.77. Insiders have acquired 85,092,006 shares of firm stock worth $2,070,253,228 during the last ninety days. 0.20% of the stock is owned by insiders.
The corporate additionally just lately introduced a quarterly dividend, which can be paid on Friday, September 25th. Shareholders of report on Friday, September 4th can be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized foundation and a yield of two.74%. The ex-dividend date is Thursday, September third. Bank of America’s dividend payout ratio (DPR) is presently 24.49%.
About Bank of America
Bank of America Company, by means of its subsidiaries, supplies banking and monetary services for particular person customers, small- and middle-market companies, institutional traders, giant companies, and governments worldwide. It operates by means of 4 segments: Client Banking, International Wealth & Funding Administration (GWIM), International Banking, and International Markets.
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