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Bank Of America CISCO Mcast news

Q3 2022 EPS Estimates for Financial institution of America Co. Reduce by Seaport Res Ptn (NYSE:BAC)

ByEditorialTeam

Oct 6, 2022

Financial institution of America Co. (NYSE:BACGet Ranking) – Inventory analysts at Seaport Res Ptn dropped their Q3 2022 earnings per share estimates for Financial institution of America in a analysis report issued on Wednesday, October fifth. Seaport Res Ptn analyst J. Mitchell now anticipates that the monetary companies supplier will submit earnings per share of $0.78 for the quarter, down from their earlier forecast of $0.79. The consensus estimate for Financial institution of America’s present full-year earnings is $3.20 per share. Seaport Res Ptn additionally issued estimates for Financial institution of America’s Q1 2023 earnings at $0.91 EPS, Q2 2023 earnings at $1.01 EPS, Q3 2023 earnings at $0.99 EPS and This fall 2023 earnings at $0.99 EPS.

Financial institution of America (NYSE:BACGet Ranking) final issued its earnings outcomes on Monday, July 18th. The monetary companies supplier reported $0.73 EPS for the quarter, lacking the consensus estimate of $0.77 by ($0.04). The agency had income of $22.69 billion in the course of the quarter, in comparison with the consensus estimate of $22.79 billion. Financial institution of America had a return on fairness of 11.51% and a internet margin of 28.89%. The agency’s income for the quarter was up 5.7% in comparison with the identical quarter final yr. Throughout the identical interval final yr, the enterprise earned $1.03 earnings per share.

A number of different analysis analysts have additionally issued studies on the corporate. Piper Sandler dropped their worth goal on Financial institution of America from $51.00 to $47.00 and set an “obese” ranking for the corporate in a analysis observe on Friday, July 1st. Credit score Suisse Group dropped their worth goal on Financial institution of America from $45.00 to $43.00 and set an “outperform” ranking for the corporate in a analysis observe on Tuesday, July nineteenth. Deutsche Financial institution Aktiengesellschaft dropped their worth goal on Financial institution of America from $51.00 to $45.00 and set a “purchase” ranking for the corporate in a analysis observe on Monday, September twelfth. Citigroup dropped their worth goal on Financial institution of America from $47.00 to $40.00 in a analysis observe on Tuesday, July twelfth. Lastly, Morgan Stanley dropped their worth goal on Financial institution of America from $40.00 to $36.00 and set an “equal weight” ranking for the corporate in a analysis observe on Wednesday. Six analysis analysts have rated the inventory with a maintain ranking and twelve have issued a purchase ranking to the inventory. Based mostly on knowledge from MarketBeat.com, Financial institution of America presently has a consensus ranking of “Reasonable Purchase” and a consensus worth goal of $45.79.

Financial institution of America Inventory Efficiency

Financial institution of America inventory opened at $31.92 on Thursday. The corporate has a debt-to-equity ratio of 1.15, a present ratio of 0.74 and a fast ratio of 0.74. The inventory has a fifty day shifting common worth of $33.77 and a two-hundred day shifting common worth of $35.15. Financial institution of America has a 52-week low of $29.67 and a 52-week excessive of $50.11. The agency has a market capitalization of $256.48 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.45 and a beta of 1.35.

Financial institution of America Will increase Dividend

The corporate additionally just lately disclosed a quarterly dividend, which was paid on Friday, September thirtieth. Traders of file on Friday, September 2nd got a $0.22 dividend. This represents a $0.88 dividend on an annualized foundation and a yield of two.76%. This can be a constructive change from Financial institution of America’s earlier quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, September 1st. Financial institution of America’s dividend payout ratio (DPR) is presently 27.50%.

Institutional Buying and selling of Financial institution of America

Plenty of hedge funds and different institutional traders have just lately added to or lowered their stakes in BAC. American Nationwide Financial institution boosted its holdings in Financial institution of America by 100.8% in the course of the third quarter. American Nationwide Financial institution now owns 6,262 shares of the monetary companies supplier’s inventory value $189,000 after shopping for a further 3,143 shares over the last quarter. Capital Funding Advisors LLC boosted its holdings in Financial institution of America by 5.8% in the course of the third quarter. Capital Funding Advisors LLC now owns 529,364 shares of the monetary companies supplier’s inventory value $15,987,000 after shopping for a further 29,223 shares over the last quarter. LVM Capital Administration Ltd. MI boosted its holdings in Financial institution of America by 40.4% in the course of the third quarter. LVM Capital Administration Ltd. MI now owns 18,532 shares of the monetary companies supplier’s inventory value $560,000 after shopping for a further 5,332 shares over the last quarter. Stillwater Funding Administration LLC boosted its holdings in Financial institution of America by 0.3% in the course of the third quarter. Stillwater Funding Administration LLC now owns 93,754 shares of the monetary companies supplier’s inventory value $2,831,000 after shopping for a further 319 shares over the last quarter. Lastly, HBW Advisory Companies LLC boosted its holdings in Financial institution of America by 9.4% in the course of the third quarter. HBW Advisory Companies LLC now owns 11,790 shares of the monetary companies supplier’s inventory value $356,000 after shopping for a further 1,012 shares over the last quarter. 68.48% of the inventory is presently owned by institutional traders and hedge funds.

About Financial institution of America

(Get Ranking)

Financial institution of America Company, by means of its subsidiaries, offers banking and monetary services and products for particular person customers, small and middle-market companies, institutional traders, massive firms, and governments worldwide. Its Shopper Banking phase provides 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, reminiscent of automotive, leisure automobile, and client private loans.

See Additionally

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

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

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