Bank of America (BAC) Expected to Announce Quarterly Earnings on Tuesday

Bank of America (NYSE:BAC) is anticipated to release its earnings data before the market opens on Tuesday, April 15th. Analysts expect Bank of America to post earnings of $0.80 per share and revenue of $26.83 billion for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. On average, analysts expect Bank of America to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Bank of America Stock Performance

NYSE BAC opened at $35.93 on Friday. Bank of America has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a 50 day moving average of $42.25 and a 200-day moving average of $43.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $273.20 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.21 and a beta of 1.24.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.89%. Bank of America’s dividend payout ratio is 32.30%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Truist Financial decreased their price objective on shares of Bank of America from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, April 4th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bank of America stock. Brighton Jones LLC grew its position in Bank of America Co. (NYSE:BAC) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,872 shares of the financial services provider’s stock after purchasing an additional 25,143 shares during the period. Brighton Jones LLC’s holdings in Bank of America were worth $4,785,000 at the end of the most recent reporting period. Institutional investors own 70.71% of the company’s stock.

About Bank of America

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.