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Bank Of America Corporation (BAC) Leads The Pack In Pre-Market Activity

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 $931.4 million.
  • BAC traded 1.2 million shares today in the pre-market hours as of 9:11 AM.
  • BAC is up 2.3% 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 0.3%. BAC has a PE ratio of 23.8. Currently there are 9 analysts that rate Bank of America Corporation a buy, 2 analysts rate it a sell, and 10 rate it a hold.

The average volume for Bank of America Corporation has been 66.6 million shares per day over the past 30 days. Bank of America has a market cap of $157.5 billion and is part of the financial sector and banking industry. The stock has a beta of 1.91 and a short float of 0.9% with 1.57 days to cover. Shares are down 3.3% year-to-date as of the close of trading on Monday.

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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 attractive valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The gross profit margin for BANK OF AMERICA CORP is currently very high, coming in at 86.47%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, BAC's net profit margin of 9.28% significantly trails the industry average.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 8.2%. Since the same quarter one year prior, revenues slightly dropped by 5.1%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, BANK OF AMERICA CORP underperformed against that of the industry average and is significantly less than that of the S&P 500.
  • BANK OF AMERICA CORP's earnings per share declined by 40.6% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, BANK OF AMERICA CORP increased its bottom line by earning $0.91 versus $0.25 in the prior year. For the next year, the market is expecting a contraction of 12.1% in earnings ($0.80 versus $0.91).

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