Zacks Research Predicts Bank of America FY2024 Earnings

Bank of America Co. (NYSE:BACFree 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.

View Our Latest Report on Bank of America

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:BACGet 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

(Get Free Report)

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.

See Also

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

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