Bank of America Corp (NYSE: BAC) has reported earnings for its fourth fiscal quarter (ending December 31) of $0.36 versus $0.85 for the same period a year ago — a decline of -58%. This result fell short of the consensus estimate of $0.65 by $-0.29. For the latest four quarters through December 31, E.P.S. were $3.10 versus $3.21 for the same period a year ago — a decline of -3%.
Recent Price Action
Bank of America Corp (NYSE: BAC) stock closed at $32.80 on 1/12/24 after a modest decline of -1.1%. Moreover, this decline was accompanied by unusually high trading volume at 175% of normal. The stock has declined -3.0% during the last week but has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
BAC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Bank of America has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock's attractiveness. Bank of America has a good Power Rating of 73 and a very high Appreciation Score of 95, producing the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.