Press coverage about Bank of America (NYSE:BAC) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bank of America earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 46.8631192025905 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Signals from Technical Perspective: Bank of America Corporation (NYSE: BAC) – Alpha Beta Stock (alphabetastock.com)
- CIBC's Stretch Says Avoid Dollar Amid Trade Tensions (finance.yahoo.com)
- Explaining Trades Is More Profitable Than Doing Them (finance.yahoo.com)
- BofA Is Seeking Some Margin Loan Sales After Steinhoff Loss (finance.yahoo.com)
- Citigroup Stock after the Recent Market Rout (finance.yahoo.com)
Several analysts have issued reports on BAC shares. Credit Suisse Group boosted their price objective on Bank of America from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday. Vetr raised Bank of America from a “hold” rating to a “buy” rating and set a $34.16 target price on the stock in a research note on Thursday, March 1st. ValuEngine raised Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods lifted their target price on Bank of America from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Finally, Wells Fargo set a $35.00 target price on Bank of America and gave the company a “buy” rating in a research note on Wednesday, December 20th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $30.89.
Shares of Bank of America (BAC) remained flat at $$31.98 during trading on Tuesday. The company had a trading volume of 44,764,893 shares, compared to its average volume of 74,129,680. The stock has a market cap of $329,539.50, a P/E ratio of 20.63, a PEG ratio of 1.63 and a beta of 1.36. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.93. Bank of America has a 52 week low of $22.07 and a 52 week high of $33.05.
Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $21.61 billion. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. analysts predict that Bank of America will post 2.46 earnings per share for the current fiscal year.
Bank of America announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.50%. Bank of America’s payout ratio is currently 30.97%.
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Bank of America 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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