Wall Street brokerages forecast that Bank of America Corp (NYSE:BAC) will report earnings of $0.69 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Bank of America’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.72. Bank of America posted earnings per share of $0.70 in the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The company is expected to report its next quarterly earnings report on Wednesday, January 15th.

On average, analysts expect that Bank of America will report full-year earnings of $2.69 per share for the current year, with EPS estimates ranging from $2.65 to $2.71. For the next year, analysts anticipate that the business will post earnings of $3.01 per share, with EPS estimates ranging from $2.90 to $3.23. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Bank of America.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. Bank of America had a return on equity of 12.05% and a net margin of 24.16%. The firm had revenue of $22.96 billion during the quarter, compared to the consensus estimate of $22.73 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the company. UBS Group boosted their price target on Bank of America from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley reaffirmed a “buy” rating and set a $38.00 price objective (up previously from $35.00) on shares of Bank of America in a research note on Monday, November 18th. Raymond James lowered Bank of America from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 29th. ValuEngine cut Bank of America from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Bank of America in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $32.92.

Shares of NYSE:BAC opened at $33.67 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.92. The business’s fifty day moving average price is $32.45 and its two-hundred day moving average price is $29.51. The stock has a market cap of $297.65 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. Bank of America has a one year low of $22.66 and a one year high of $33.80.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, December 5th. Bank of America’s dividend payout ratio is currently 27.59%.

In related news, insider Kathleen A. Knox sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $30.23, for a total transaction of $1,209,200.00. Following the completion of the transaction, the insider now owns 43,744 shares of the company’s stock, valued at $1,322,381.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank P. Bramble sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $31.33, for a total transaction of $203,645.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,566,500. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Bank of America by 41.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 55,924 shares of the financial services provider’s stock worth $1,622,000 after purchasing an additional 16,465 shares during the period. First Bank & Trust boosted its holdings in Bank of America by 16.6% in the 2nd quarter. First Bank & Trust now owns 4,623 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 657 shares during the period. Coastal Capital Group Inc. boosted its holdings in Bank of America by 7.0% in the 2nd quarter. Coastal Capital Group Inc. now owns 14,782 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 966 shares during the period. Geneva Partners LLC grew its position in Bank of America by 51.7% in the second quarter. Geneva Partners LLC now owns 119,436 shares of the financial services provider’s stock valued at $3,464,000 after acquiring an additional 40,711 shares in the last quarter. Finally, Girard Partners LTD. grew its position in Bank of America by 70.7% in the second quarter. Girard Partners LTD. now owns 188,304 shares of the financial services provider’s stock valued at $5,460,000 after acquiring an additional 77,997 shares in the last quarter. Institutional investors own 69.20% 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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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