Bank of America (BAC) Scheduled to Post Quarterly Earnings on Tuesday

Bank of America (NYSE:BAC) is set to announce its earnings results before the market opens on Tuesday, April 16th. Analysts expect the company to announce earnings of $0.77 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $23.70 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. On average, analysts expect Bank of America to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Bank of America Trading Down 1.5 %

NYSE BAC opened at $35.79 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America has a twelve month low of $24.96 and a twelve month high of $38.35. The firm has a market capitalization of $282.41 billion, a PE ratio of 11.66, a P/E/G ratio of 1.63 and a beta of 1.39. The stock’s 50 day moving average is $35.42 and its 200 day moving average is $32.08.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. Bank of America’s dividend payout ratio is presently 31.27%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BAC. Jefferies Financial Group boosted their target price on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 8th. UBS Group reissued a “neutral” rating and issued a $40.00 target price (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. HSBC reissued a “hold” rating and issued a $39.00 target price (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, Odeon Capital Group downgraded Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.29.

Institutional Trading of Bank of America

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Bank of America in the fourth quarter worth $25,000. Castleview Partners LLC purchased a new position in shares of Bank of America in the first quarter valued at about $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of America in the first quarter worth about $34,000. Aspect Partners LLC purchased a new stake in shares of Bank of America during the fourth quarter worth about $38,000. Finally, Live Oak Investment Partners purchased a new stake in shares of Bank of America during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 70.71% 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 four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.