Bank of America Co. (NYSE:BAC – Free Report) – Analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for Bank of America in a research report issued to clients and investors on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $3.24 for the year, down from their previous forecast of $3.26. The consensus estimate for Bank of America’s current full-year earnings is $3.27 per share. Zacks Research also issued estimates for Bank of America’s Q4 2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.90 EPS, Q3 2025 earnings at $0.91 EPS, FY2025 earnings at $3.56 EPS, Q1 2026 earnings at $0.90 EPS, Q2 2026 earnings at $0.99 EPS, Q3 2026 earnings at $0.99 EPS, Q4 2026 earnings at $1.13 EPS and FY2026 earnings at $4.00 EPS.
A number of other equities research analysts have also weighed in on BAC. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Oppenheimer lowered their target price on Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI boosted their price target on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler raised their price objective on Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $47.50.
Bank of America Stock Up 1.8 %
Shares of NYSE:BAC opened at $45.88 on Wednesday. The company has a 50 day moving average of $45.69 and a two-hundred day moving average of $42.31. Bank of America has a 52-week low of $31.27 and a 52-week high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $352.03 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.
Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. During the same period in the previous year, the company posted $0.90 EPS. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis.
Hedge Funds Weigh In On Bank of America
A number of large investors have recently bought and sold shares of the business. Fairway Wealth LLC bought a new stake in shares of Bank of America in the 2nd quarter worth approximately $27,000. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc lifted its stake in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the third quarter valued at $45,000. 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.
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