Financial institution of America Co. (NYSE:BAC) issued its earnings outcomes on Friday. The monetary companies supplier reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06, RTT Information reviews. The agency had income of $24.50 billion in the course of the quarter, in comparison with the consensus estimate of $24.17 billion. Financial institution of America had a internet margin of 26.52% and a return on fairness of 11.36%. The corporate’s income was up 11.1% in comparison with the identical quarter final 12 months. Throughout the identical quarter within the earlier 12 months, the agency posted $0.82 earnings per share.
Financial institution of America Inventory Efficiency
Financial institution of America inventory traded up $0.77 throughout buying and selling hours on Friday, reaching $35.24. 3,140,009 shares of the corporate have been exchanged, in comparison with its common quantity of 38,149,926. The agency has a market cap of $282.71 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.34 and a beta of 1.39. The corporate has a present ratio of 0.76, a fast ratio of 0.76 and a debt-to-equity ratio of 1.12. The inventory has a 50-day shifting common of $34.83 and a 200 day shifting common of $33.88. Financial institution of America Co. has a 12 month low of $29.31 and a 12 month excessive of $50.11.
Financial institution of America Publicizes Dividend
The enterprise additionally lately introduced a quarterly dividend, which was paid on Friday, December thirtieth. Shareholders of report on Friday, December 2nd got a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.88 dividend on an annualized foundation and a yield of two.50%. Financial institution of America’s payout ratio is at the moment 27.85%.
Wall Road Analyst Weigh In
BAC has been the topic of a number of analysis analyst reviews. The Goldman Sachs Group decreased their worth goal on shares of Financial institution of America from $42.00 to $40.00 and set a “buy” ranking for the corporate in a analysis be aware on Tuesday, October 4th. JPMorgan Chase & Co. upped their worth goal on shares of Financial institution of America from $35.50 to $39.00 in a analysis be aware on Wednesday, November 2nd. Morgan Stanley decreased their worth goal on shares of Financial institution of America from $38.00 to $37.00 and set an “equal weight” ranking for the corporate in a analysis be aware on Thursday, December fifteenth. Oppenheimer decreased their goal worth on shares of Financial institution of America from $52.00 to $51.00 and set an “outperform” ranking for the corporate in a analysis be aware on Wednesday, December twenty eighth. Lastly, BMO Capital Markets elevated their goal worth on shares of Financial institution of America from $41.00 to $42.00 in a analysis be aware on Tuesday, October 18th. Seven equities analysis analysts have rated the inventory with a maintain ranking and 7 have assigned a purchase ranking to the inventory. In accordance with MarketBeat.com, the inventory presently has a consensus ranking of “Moderate Buy” and a mean worth goal of $41.94.
Insider Transactions at Financial institution of America
In different Financial institution of America information, main shareholder Of America Corp /De/ Financial institution offered 4 shares of the inventory in a transaction on Wednesday, November sixteenth. The shares have been offered at a mean worth of $23,750.00, for a complete worth of $95,000.00. The sale was disclosed in a submitting with the Securities & Change Fee, which might be accessed by the SEC web site. 0.26% of the inventory is at the moment owned by company insiders.
Institutional Inflows and Outflows
Plenty of massive buyers have lately made modifications to their positions within the inventory. Fort Level Capital Companions LLC raised its place in shares of Financial institution of America by 2.2% in the course of the first quarter. Fort Level Capital Companions LLC now owns 15,918 shares of the monetary companies supplier’s inventory valued at $656,000 after shopping for a further 336 shares over the last quarter. First Command Financial institution elevated its stake in Financial institution of America by 1.5% within the second quarter. First Command Financial institution now owns 29,157 shares of the monetary companies supplier’s inventory valued at $908,000 after buying a further 429 shares in the course of the interval. Wall Road Entry Asset Administration LLC elevated its stake in Financial institution of America by 1.0% within the first quarter. Wall Road Entry Asset Administration LLC now owns 43,588 shares of the monetary companies supplier’s inventory valued at $1,796,000 after buying a further 434 shares in the course of the interval. Turim 21 Investimentos Ltda. elevated its stake in Financial institution of America by 15.5% within the first quarter. Turim 21 Investimentos Ltda. now owns 3,991 shares of the monetary companies supplier’s inventory valued at $165,000 after buying a further 537 shares in the course of the interval. Lastly, Founders Monetary Securities LLC elevated its stake in Financial institution of America by 2.2% within the first quarter. Founders Monetary Securities LLC now owns 29,597 shares of the monetary companies supplier’s inventory valued at $1,220,000 after buying a further 643 shares in the course of the interval. Institutional buyers and hedge funds personal 68.34% of the corporate’s inventory.
About Financial institution of America
Financial institution of America Company, by its subsidiaries, offers banking and monetary services and products for particular person shoppers, small and middle-market companies, institutional buyers, massive firms, and governments worldwide. Its Client Banking section gives 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, equivalent to automotive, leisure car, and client private loans.
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