For its third fiscal quarter (ending September 30), Bank of America Corp (NYSE: BAC) has reported a -10% decline in E.P.S. from $0.91 a year ago to $0.82 in the current quarter. Relative to the consensus estimate of $0.76, this was a premium of $0.06. For the latest four quarters through September 30, E.P.S. were $2.78 versus $3.59 for the same period a year ago — a decline of -23%.
Recent Price Action
Bank of America Corp (NYSE: BAC) stock rose modestly by 0.5% on 10/15/24. The stock closed at $42.14. Moreover, unusually high trading volume at 169% of normal accompanied the advance. The stock has risen 5.5% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, BAC 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 80 and a very high Appreciation Score of 96, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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