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

Bank of America (NYSE:BAC - Get Free Report) 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. Investors that wish to listen to the company's conference call can do so using this link.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. During the same quarter last year, the company posted $0.70 EPS. The company's quarterly revenue was up 15.0% compared to the same quarter last year. 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 Price Performance

Shares of BAC stock traded up $0.08 during trading hours on Friday, reaching $35.93. 63,602,892 shares of the company were exchanged, compared to its average volume of 39,233,162. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $273.20 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 1.21 and a beta of 1.24. The stock's fifty day moving average is $42.25 and its two-hundred day moving average is $43.69. Bank of America has a fifty-two week low of $33.07 and a fifty-two week high of $48.08.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a $0.26 dividend. 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 payout ratio is 32.30%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BAC. Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Truist Financial cut their target price on shares of Bank of America from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Citigroup reduced their target price on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. UBS Group upgraded shares of Bank of America from a "neutral" rating to a "buy" rating and increased their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Evercore ISI lowered their target price on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.31.

Institutional Trading of Bank of America

A hedge fund recently raised its stake in Bank of America stock. Brighton Jones LLC increased its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,872 shares of the financial services provider's stock after acquiring an additional 25,143 shares during the period. Brighton Jones LLC's holdings in Bank of America were worth $4,785,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.