Somewhat Positive Press Coverage Somewhat Unlikely to Affect Bank of America (BAC) Stock Price
News coverage about Bank of America (NYSE:BAC) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bank of America earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.0102329184629 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have effected Accern Sentiment’s scoring:
- Bank of America Corp (BAC) Expected to Post FY2018 Earnings of $2.45 Per Share (americanbankingnews.com)
- A sample of companies planning bonuses in wake of tax cuts (marketbeat.com)
- Bank of America Corporation: Bank of America to Report Fourth-Quarter 2017 Financial Results on January 17 (twst.com)
- How to make bitcoin-like returns without as much risk (finance.yahoo.com)
- LPC: Boardriders backs Billabong acquisition with US$600m of loans (finance.yahoo.com)
Bank of America (NYSE:BAC) traded up $0.28 during trading hours on Wednesday, hitting $30.55. The company had a trading volume of 63,483,456 shares, compared to its average volume of 74,710,000. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. Bank of America has a 12 month low of $22.01 and a 12 month high of $30.73. The company has a market cap of $318,660.00, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.32.
Bank of America (NYSE:BAC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a return on equity of 8.33% and a net margin of 20.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. sell-side analysts predict that Bank of America will post 1.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a $0.12 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.57%. Bank of America’s dividend payout ratio is currently 27.91%.
Bank of America declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently commented on BAC. Societe Generale cut Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr cut Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price target on the stock. in a research report on Wednesday. BidaskClub raised Bank of America from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $29.00 price target (up previously from $27.00) on shares of Bank of America in a research report on Monday, October 16th. Finally, UBS Group set a $27.00 price target on Bank of America and gave the company a “hold” rating in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.56.
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About Bank of America
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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