News stories about Bank of America Corporation (NYSE:BAC) have been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Bank of America Corporation earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.8163681356251 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
- Bank Stocks Are Back in Rally Mode (finance.yahoo.com)
- Even if the rally ends tomorrow, BofA says these two areas could be a life raft for investors (cnbc.com)
- Bill Nygren’s Oakmark Fund Third Quarter 2017 Commentary (finance.yahoo.com)
- Investors Purchase Large Volume of Call Options on Bank of America Corporation (BAC) (americanbankingnews.com)
- Bank Of America: Don’t Believe The Naysayers (seekingalpha.com)
Shares of Bank of America Corporation (BAC) traded up 0.31% during trading on Friday, hitting $26.21. The stock has a market cap of $275.64 billion, a price-to-earnings ratio of 15.61 and a beta of 1.25. The company’s 50-day moving average is $24.41 and its 200 day moving average is $23.83. Bank of America Corporation has a 12-month low of $15.60 and a 12-month high of $26.30. Bank of America Corporation also was the recipient of unusually large options trading activity on Thursday. Traders bought 245,085 call options on the stock. This is an increase of 125% compared to the typical volume of 109,122 call options.
Bank of America Corporation (NYSE:BAC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Bank of America Corporation had a net margin of 20.28% and a return on equity of 8.11%. The firm had revenue of $22.80 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same period last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Corporation will post $1.80 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.12 per share. This is a boost from Bank of America Corporation’s previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, August 30th. Bank of America Corporation’s dividend payout ratio (DPR) is 28.57%.
Bank of America Corporation declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
BAC has been the topic of a number of recent analyst reports. BidaskClub raised shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. CIBC reissued an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, July 4th. Vetr cut shares of Bank of America Corporation from a “buy” rating to a “hold” rating and set a $24.19 price objective on the stock. in a research note on Wednesday, June 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $24.80.
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In related news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.16, for a total transaction of $2,096,194.08. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.
Bank of America Corporation Company Profile
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.
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