Bank of America Corp (NYSE: BAC) has reported E.P.S. of $0.77 for its first fiscal quarter (ending March 31) versus $0.95 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $2.92 versus $3.34 for the same period a year ago.
Recent Price Action
Bank of America Corp (NYSE: BAC) stock declined by -3.5% on 4/16/24. The shares closed at $34.68. Moreover, exceptionally high trading volume at 241% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -7.5% during the last week.
Current PriceTarget Research Rating
BAC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Bank of America has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Bank of America has a good Power Rating of 84 and a very high Appreciation Score of 98, triggering 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.
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