News coverage about Bank of America (NYSE:BAC) has trended positive this week, InfoTrie Sentiment reports. The research group rates the sentiment of press coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Bank of America earned a media sentiment score of 3.00 on their scale. InfoTrie also gave news headlines about the financial services provider an news buzz score of 0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the company’s share price in the next several days.
Here are some of the headlines that may have effected Bank of America’s ranking:
- Bank Of America: Big Bank Smackdown, 2 Small Bank Dividends Worth Checking Out (seekingalpha.com)
- $22.22 Billion in Sales Expected for Bank of America Corp (NYSE:BAC) This Quarter (americanbankingnews.com)
- Risks To The Bank Rally For Bank Of America, JPMorgan, And Citigroup (seekingalpha.com)
- Masters of the Universe Are Taking Over Your Local Sports Teams (finance.yahoo.com)
- Dow industrials post best day in 2 months after better-than-expected November jobs report (finance.yahoo.com)
Shares of BAC traded up $0.58 during trading hours on Friday, hitting $33.67. The stock had a trading volume of 50,907,604 shares, compared to its average volume of 37,900,240. Bank of America Corp has a 12-month low of $22.66 and a 12-month high of $33.80. The firm has a market cap of $297.65 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.27 and a beta of 1.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.92. The company’s fifty day simple moving average is $32.45 and its 200 day simple moving average is $29.51.
Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. The firm had revenue of $22.96 billion during the quarter, compared to the consensus estimate of $22.73 billion. Bank of America had a return on equity of 12.05% and a net margin of 24.16%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, sell-side analysts predict that Bank of America Corp will post 2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.14%. Bank of America’s payout ratio is 27.59%.
Several brokerages have commented on BAC. ValuEngine lowered shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Odeon Capital Group upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Atlantic Securities raised shares of Bank of America from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 22nd. UBS Group lifted their price target on shares of Bank of America from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $33.00 price target (up previously from $30.00) on shares of Bank of America in a research note on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Bank of America has an average rating of “Hold” and an average price target of $32.92.
In related news, Director Frank P. Bramble sold 6,500 shares of Bank of America stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $31.33, for a total transaction of $203,645.00. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $1,566,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen A. Knox sold 40,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $30.23, for a total transaction of $1,209,200.00. Following the completion of the transaction, the insider now owns 43,744 shares in the company, valued at approximately $1,322,381.12. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
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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