Bank of America Corporation (BAC - Free Report) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 31.9% in the past one-month time frame.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Bank of America currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Banks - Major Regional industry may consider a better-ranked stock like Citigroup Inc. (C - Free Report) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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