Wall Street analysts predict that Bank of America Corp (NYSE:BAC) will report earnings of $0.64 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Bank of America’s earnings, with estimates ranging from $0.62 to $0.66. Bank of America reported earnings per share of $0.47 in the same quarter last year, which suggests a positive year over year growth rate of 36.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, January 16th.

According to Zacks, analysts expect that Bank of America will report full year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.53 to $2.56. For the next fiscal year, analysts forecast that the business will report earnings of $2.84 per share, with EPS estimates ranging from $2.70 to $2.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Bank of America.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $22.78 billion for the quarter, compared to the consensus estimate of $22.63 billion. Bank of America had a net margin of 21.85% and a return on equity of 10.82%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS.

A number of research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Bank of America in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. ValuEngine raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, BMO Capital Markets boosted their price objective on shares of Bank of America from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Tuesday, October 16th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Bank of America presently has a consensus rating of “Buy” and a consensus target price of $34.63.

Shares of Bank of America stock opened at $26.28 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $276.48 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.32 and a beta of 1.27. Bank of America has a 12-month low of $25.53 and a 12-month high of $33.05.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 32.79%.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Bank of America by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,851,681 shares of the financial services provider’s stock valued at $1,800,203,000 after buying an additional 8,925,474 shares in the last quarter. Capital World Investors boosted its stake in Bank of America by 0.7% in the 3rd quarter. Capital World Investors now owns 41,115,262 shares of the financial services provider’s stock worth $1,211,256,000 after purchasing an additional 273,716 shares in the last quarter. Lansdowne Partners UK LLP boosted its stake in Bank of America by 3.0% in the 2nd quarter. Lansdowne Partners UK LLP now owns 32,953,489 shares of the financial services provider’s stock worth $928,965,000 after purchasing an additional 954,047 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Bank of America by 7.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,597,712 shares of the financial services provider’s stock worth $890,740,000 after purchasing an additional 2,057,669 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Bank of America by 74.9% in the 2nd quarter. Janus Henderson Group PLC now owns 27,655,967 shares of the financial services provider’s stock worth $779,654,000 after purchasing an additional 11,842,467 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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