[Business Wire] Bank of America Corp (NYSE:BAC)(TREND ANALYSIS) reported its third-quarter 2016 financial results. The news release, supplemental filing and investor presentation can be accessed in the following ways:
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161017005576/en/
Bank of America newsroom at http://newsroom.bankofamerica.com.
Bank of America Investor Relations website at http://investor.bankofamerica.com.
Business Wire’s news web page at http://www.businesswire.com/portal/site/home/news.
For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is: 79795. Please dial in 10 minutes prior to the start of the call. A replay will also be available beginning at noon ET on October 17 through 11:59 p.m. ET on October 24 by telephone at 1.800.934.4850 (U.S.) or 1.402.220.1178 (international).
Stock Performance: Click here for a free comprehensive Trend Analysis Report
Bank of America Corp (NYSE:BAC) stock is currently trading 11.55% below its 52-week-high, 45.59% above its 52-week-low. The 1-year stock price history is in the range of $10.99 – $18.09. Bank of America Corp (BAC) has a price to earnings ratio of 13.41 versus Financial sector average of 15.9. BAC stock price has underperformed the S&P 500 by 10%. The Diversified Banking Services company is currently valued at $168.26 billion, and its share price closed the last trading session at $16. The stock has a 50-day moving average of $15.77 and a 200-day moving average of $14.56.
Bank of America Corp (BAC) current short interest stands at 94.24 million shares. It has decreased by 17% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 82.08 million shares, the number of days required to cover the short positions stand at 1.2 days.
BAC is forecasted to report earnings per share of $0.34 and a revenue of $20.73 billion for the 3rd Quarter of the fiscal year 2016. Bank of America Corp (BAC) expects to post results on October 17. The Diversified Banking Services company announced last quarter earnings per share of $0.36 against a consensus Street estimate of $0.34, beating the average estimate by $0.02. The company posted a revenue of $22.85 billion compared to an estimation of $20.39 billion.
Is this a Trading Opportunity? Click here for a free Trend Analysis Report
There are currently thirty-three analysts that cover Bank of America Corp stock. Of those thirty-three, twenty-five have a Buy rating, eight have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $17.64.
A recent analyst activity consisted of Compass Point who initiated their coverage on the stock with Neutral rating on October 11. Compass Point fixed their price target at $13. This corresponds to a 18.75% downside from the last closing price. On the date of report, the stock closed at $16.11.
Credit Suisse reiterated their Outperform stance on October 5, and increased their price target on BAC stock from $18 to $19. This corresponds to a 18.75% upside from the last closing price. On the date of report, the stock closed at $16.11.
Another research firm was Societe Generale who downgraded their Buy rating to Hold on September 13. On the date of report, the stock closed at $15.72.
Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.