Bank of America Corp (NYSE:BAC) – Jefferies Group issued their Q1 2018 earnings estimates for Bank of America in a research note issued on Tuesday. Jefferies Group analyst K. Usdin anticipates that the financial services provider will post earnings per share of $0.58 for the quarter. Jefferies Group also issued estimates for Bank of America’s Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.64 EPS and Q4 2018 earnings at $0.62 EPS.

A number of other equities research analysts also recently commented on BAC. Vetr downgraded shares of Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price objective for the company. in a research report on Wednesday. Robert W. Baird restated a “hold” rating and issued a $24.00 price objective on shares of Bank of America in a research report on Sunday, October 1st. Deutsche Bank restated a “hold” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Bank of America in a research report on Tuesday, September 26th. BMO Capital Markets restated a “hold” rating and issued a $31.00 price objective on shares of Bank of America in a research report on Monday, January 8th. Finally, BidaskClub upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Bank of America has a consensus rating of “Buy” and an average price target of $29.14.

Shares of Bank of America (BAC) opened at $31.19 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market cap of $325,330.00, a PE ratio of 18.13, a P/E/G ratio of 1.67 and a beta of 1.32. Bank of America has a 12-month low of $22.01 and a 12-month high of $31.20.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share.

Bank of America declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. Bank of America’s payout ratio is 27.91%.

Several hedge funds have recently bought and sold shares of BAC. Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the 2nd quarter worth approximately $100,000. Chicago Partners Investment Group LLC raised its position in shares of Bank of America by 11.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 450 shares during the last quarter. Burt Wealth Advisors raised its position in shares of Bank of America by 4,013.1% during the 3rd quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 4,294 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Bank of America during the 2nd quarter worth approximately $115,000. Finally, Legacy Advisors LLC acquired a new position in shares of Bank of America during the 3rd quarter worth approximately $115,000. Institutional investors own 68.43% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Bank of America Corp Forecasted to Post Q1 2018 Earnings of $0.58 Per Share (BAC)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.dailypolitical.com/2018/01/14/bank-of-america-corp-forecasted-to-post-q1-2018-earnings-of-0-58-per-share-bac.html.

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.

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

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.