Bank of America Corporation (BAC) To Go Ex-Dividend on September 4th

Bank of America Corporation (NYSE:BAC) declared a quarterly dividend on Friday, July 24th. Investors of record on Friday, September 4th will be given a dividend of 0.32 per share by the financial services provider on Friday, September 25th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, September 4th. This is a 14.3% increase from Bank of America’s previous quarterly dividend of $0.28.

Bank of America has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Bank of America has a payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of America to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 24.3%.

Bank of America Stock Up 0.0%

Shares of NYSE:BAC opened at $61.97 on Wednesday. The company has a 50 day moving average price of $61.35 and a two-hundred day moving average price of $55.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $433.34 billion, a PE ratio of 14.21, a PEG ratio of 0.99 and a beta of 1.16. Bank of America has a 52 week low of $46.12 and a 52 week high of $65.22.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. The company had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. Analysts forecast that Bank of America will post 4.68 earnings per share for the current year.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.