Bank Of America Corporation (BAC): Today's Pre-Market Leader Stock
Trade-Ideas LLC identified
(
) 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 $1.5 billion.
- BAC traded 642,231 shares today in the pre-market hours as of 8:30 AM.
- BAC is up 2.4% today from yesterday's close.
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More details on BAC:
Bank of America Corporation is a bank holding company. The company, through its subsidiaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Management; Global Banking; Global Markets; and Other segments. The stock currently has a dividend yield of 1.2%. BAC has a PE ratio of 13. Currently there are 14 analysts that rate Bank of America Corporation a buy, 1 analyst rates it a sell, and 3 rate it a hold.
The average volume for Bank of America Corporation has been 88.0 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 0.90 and a short float of 1.1% with 1.39 days to cover. Shares are down 4.9% year-to-date as of the close of trading on Wednesday.
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Analysis:
rates Bank of America Corporation as a
. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, attractive valuation levels, increase in stock price during the past year, impressive record of earnings per share growth and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
Highlights from the ratings report include:
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 2043.1% when compared to the same quarter one year prior, rising from -$232.00 million to $4,508.00 million.
- After a year of stock price fluctuations, the net result is that BAC's price has not changed very much. Although its weak earnings growth may have played a role in this flat result, don't lose sight of the fact that the performance of the overall market, as measured by the S&P 500 Index, was essentially similar. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
- BANK OF AMERICA CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, BANK OF AMERICA CORP reported lower earnings of $0.35 versus $0.91 in the prior year. This year, the market expects an improvement in earnings ($1.43 versus $0.35).
- Regardless of the drop in revenue, the company managed to outperform against the industry average of 3.3%. Since the same quarter one year prior, revenues slightly dropped by 2.8%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- You can view the full Bank of America Corporation Ratings Report.
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