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Today's Pre-Market Trading Very Positive For Bank Of America Corporation (BAC)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Bank of America Corporation ( BAC) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Bank of America Corporation as such a stock due to the following factors:

  • BAC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $1.8 billion.
  • BAC traded 2.0 million shares today in the pre-market hours as of 7:34 AM.
  • BAC is up 2.6% today from yesterday's close.

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More details on BAC:

Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The stock currently has a dividend yield of 0.2%. BAC has a PE ratio of 25.8. Currently there are 7 analysts that rate Bank of America Corporation a buy, 2 analysts rate it a sell, and 12 rate it a hold.

The average volume for Bank of America Corporation has been 93.9 million shares per day over the past 30 days. Bank of America has a market cap of $178.9 billion and is part of the financial sector and banking industry. The stock has a beta of 2.31 and a short float of 1% with 1.09 days to cover. Shares are up 5.5% year-to-date as of the close of trading on Monday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Bank of America Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, revenue growth, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • This stock has managed to rise its share value by 47.24% over the past twelve months. Regarding the stock's future course, although almost any stock can fall in a broad market decline, BAC should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • BANK OF AMERICA CORP has shown improvement in its earnings for its most recently reported quarter when compared with the same quarter a year earlier. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, BANK OF AMERICA CORP turned its bottom line around by earning $0.25 versus -$0.02 in the prior year. This year, the market expects an improvement in earnings ($0.88 versus $0.25).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Diversified Financial Services industry. The net income increased by 634.4% when compared to the same quarter one year prior, rising from $340.00 million to $2,497.00 million.
  • BAC's revenue growth trails the industry average of 13.4%. Since the same quarter one year prior, revenues slightly increased by 0.7%. Growth in the company's revenue appears to have helped boost the earnings per share.

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