In the latest trading session, Bank of America (BAC - Free Report) closed at $49.21, marking a +0.57% move from the previous day. This change lagged the S&P 500's 0.92% gain on the day. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the nation's second-largest bank had gained 12.28% over the past month, outpacing the Finance sector's gain of 3.59% and the S&P 500's loss of 0.85% in that time.
Bank of America will be looking to display strength as it nears its next earnings release, which is expected to be January 19, 2022. The company is expected to report EPS of $0.77, up 30.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $22.11 billion, up 9.99% from the year-ago period.
Any recent changes to analyst estimates for Bank of America should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Bank of America is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bank of America is holding a Forward P/E ratio of 15.46. This valuation marks a premium compared to its industry's average Forward P/E of 14.01.
We can also see that BAC currently has a PEG ratio of 2.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.48 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
In the latest trading session, Bank of America (BAC - Free Report) closed at $49.21, marking a +0.57% move from the previous day. This change lagged the S&P 500's 0.92% gain on the day. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the nation's second-largest bank had gained 12.28% over the past month, outpacing the Finance sector's gain of 3.59% and the S&P 500's loss of 0.85% in that time.
Bank of America will be looking to display strength as it nears its next earnings release, which is expected to be January 19, 2022. The company is expected to report EPS of $0.77, up 30.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $22.11 billion, up 9.99% from the year-ago period.
Any recent changes to analyst estimates for Bank of America should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Bank of America is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bank of America is holding a Forward P/E ratio of 15.46. This valuation marks a premium compared to its industry's average Forward P/E of 14.01.
We can also see that BAC currently has a PEG ratio of 2.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.48 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
Get the latest research report on BAC - FREE