Bank of America Corp (NYSE:BAC) – Investment analysts at Jefferies Group issued their Q1 2018 EPS estimates for Bank of America in a research note issued on Tuesday. Jefferies Group analyst K. Usdin forecasts that the financial services provider will earn $0.58 per share for the quarter. Jefferies Group also issued estimates for Bank of America’s Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.64 EPS and Q4 2018 earnings at $0.62 EPS.
Bank of America (NYSE:BAC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. Bank of America’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share.
Bank of America (NYSE BAC) opened at $31.19 on Friday. The stock has a market cap of $325,330.00, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.67 and a beta of 1.32. Bank of America has a 12 month low of $22.01 and a 12 month high of $31.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91.
Several institutional investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the second quarter valued at about $100,000. Chicago Partners Investment Group LLC raised its holdings in shares of Bank of America by 11.0% in the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 450 shares during the last quarter. Burt Wealth Advisors raised its holdings in shares of Bank of America by 4,013.1% in the third quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 4,294 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new stake in shares of Bank of America in the second quarter valued at about $115,000. Finally, Legacy Advisors LLC purchased a new stake in shares of Bank of America in the third quarter valued at about $115,000. 68.43% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, November 30th. Bank of America’s dividend payout ratio (DPR) is 27.91%.
Bank of America announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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Bank of America Company Profile
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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