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Financial institution of America (BAC) Set to Announce Quarterly Earnings on Monday

ByEditorialTeam

Oct 10, 2022

Financial institution of America (NYSE:BACGet Score) will probably be issuing its quarterly earnings knowledge earlier than the market opens on Monday, October seventeenth. Analysts anticipate the corporate to announce earnings of $0.80 per share for the quarter. Person that want to register for the corporate’s earnings convention name can accomplish that utilizing this hyperlink.

Financial institution of America (NYSE:BACGet Score) final launched its quarterly earnings outcomes on Monday, July 18th. The monetary companies supplier reported $0.73 earnings per share (EPS) for the quarter, lacking the consensus estimate of $0.77 by ($0.04). The agency had income of $22.69 billion through the quarter, in comparison with the consensus estimate of $22.79 billion. Financial institution of America had a web margin of 28.89% and a return on fairness of 11.51%. The enterprise’s income for the quarter was up 5.7% in comparison with the identical quarter final yr. Throughout the identical quarter final yr, the agency earned $1.03 earnings per share. On common, analysts anticipate Financial institution of America to put up $3 EPS for the present fiscal yr and $4 EPS for the subsequent fiscal yr.

Financial institution of America Inventory Efficiency

BAC opened at $30.75 on Monday. The enterprise has a fifty day easy shifting common of $33.67 and a 200 day easy shifting common of $34.92. The corporate has a market capitalization of $247.08 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. Financial institution of America has a 1 yr low of $29.67 and a 1 yr excessive of $50.11. The corporate has a debt-to-equity ratio of 1.15, a present ratio of 0.74 and a fast ratio of 0.74.

Financial institution of America Will increase Dividend

The enterprise additionally just lately introduced a quarterly dividend, which was paid on Friday, September thirtieth. Stockholders of file on Friday, September 2nd got a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized foundation and a dividend yield of two.86%. This is a rise from Financial institution of America’s earlier quarterly dividend of $0.21. The ex-dividend date was Thursday, September 1st. Financial institution of America’s dividend payout ratio is presently 27.50%.

Institutional Buying and selling of Financial institution of America

A number of institutional buyers and hedge funds have just lately modified their holdings of BAC. Loomis Sayles & Co. L P elevated its place in shares of Financial institution of America by 150.3% through the first quarter. Loomis Sayles & Co. L P now owns 1,985 shares of the monetary companies supplier’s inventory valued at $82,000 after buying a further 1,192 shares over the past quarter. Turim 21 Investimentos Ltda. raised its place in shares of Financial institution of America by 15.5% within the 1st quarter. Turim 21 Investimentos Ltda. now owns 3,991 shares of the monetary companies supplier’s inventory value $165,000 after buying a further 537 shares within the final quarter. Baltimore Washington Monetary Advisors Inc. purchased a brand new place in shares of Financial institution of America within the 1st quarter value roughly $210,000. Vary Monetary Group LLC purchased a brand new place in shares of Financial institution of America within the 1st quarter value roughly $237,000. Lastly, Bluesphere Advisors LLC raised its place in shares of Financial institution of America by 23.5% within the 1st quarter. Bluesphere Advisors LLC now owns 7,445 shares of the monetary companies supplier’s inventory value $307,000 after buying a further 1,418 shares within the final quarter. 68.48% of the inventory is owned by hedge funds and different institutional buyers.

Analysts Set New Worth Targets

Numerous equities analysts have just lately commented on BAC shares. Royal Financial institution of Canada lowered their value goal on Financial institution of America from $45.00 to $40.00 in a report on Tuesday, July nineteenth. Barclays lowered their value goal on Financial institution of America from $58.00 to $51.00 and set an “chubby” ranking for the corporate in a report on Tuesday, July nineteenth. Piper Sandler lowered their goal value on Financial institution of America from $51.00 to $47.00 and set an “chubby” ranking for the corporate in a report on Friday, July 1st. Citigroup lowered their goal value on Financial institution of America from $47.00 to $40.00 in a report on Tuesday, July twelfth. Lastly, Societe Generale raised Financial institution of America from a “maintain” ranking to a “purchase” ranking and set a $37.50 goal value for the corporate in a report on Monday, July eleventh. Six analysis analysts have rated the inventory with a maintain ranking and twelve have given a purchase ranking to the corporate’s inventory. Based mostly on knowledge from MarketBeat.com, Financial institution of America presently has a mean ranking of “Average Purchase” and a consensus value goal of $45.79.

Financial institution of America Firm Profile

(Get Score)

Financial institution of America Company, by way of its subsidiaries, gives banking and monetary services for particular person customers, small and middle-market companies, institutional buyers, giant firms, and governments worldwide. Its Client Banking section affords conventional and cash market financial savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and funding accounts and merchandise; and credit score and debit playing cards, residential mortgages, and residential fairness loans, in addition to direct and oblique loans, resembling automotive, leisure car, and shopper private loans.

Featured Tales

Earnings History for Bank of America (NYSE:BAC)

This immediate information alert was generated by narrative science know-how and monetary knowledge from MarketBeat with a view to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial crew previous to publication. Please ship any questions or feedback about this story to [email protected]

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