Bank Of America Corporation (BAC) Down In Early Morning Trading
Trade-Ideas LLC identified
(
) as a pre-market laggard 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 $1.2 billion.
- BAC traded 576,347 shares today in the pre-market hours as of 8:32 AM.
- BAC is down 2.1% today from yesterday's close.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in BAC with the Ticky from Trade-Ideas. See the FREE profile for BAC NOW at Trade-Ideas
More details on BAC:
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. The stock currently has a dividend yield of 1.4%. BAC has a PE ratio of 1. Currently there are 16 analysts that rate Bank of America Corporation a buy, no analysts rate it a sell, and 4 rate it a hold.
The average volume for Bank of America Corporation has been 122.8 million shares per day over the past 30 days. Bank of America has a market cap of $147.5 billion and is part of the financial sector and banking industry. The stock has a beta of 1.23 and a short float of 0.7% with 0.75 days to cover. Shares are down 16% year-to-date as of the close of trading on Wednesday.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
Analysis:
rates Bank of America Corporation as a
. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself.
Highlights from the ratings report include:
- The gross profit margin for BANK OF AMERICA CORP is currently very high, coming in at 84.02%. Regardless of BAC's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 12.16% trails the industry average.
- BANK OF AMERICA CORP's earnings per share declined by 22.2% 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 $1.31 versus $0.35 in the prior year. This year, the market expects earnings to be in line with last year ($1.31 versus $1.31).
- BAC is off 5.50% from its price level of one year ago, reflecting a combination of (a) the general market trend and (b) the company's own weaknesses, including its lower earnings per share compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
- The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and the Commercial Banks industry average. The net income has decreased by 20.2% when compared to the same quarter one year ago, dropping from $3,357.00 million to $2,680.00 million.
- You can view the full Bank of America Corporation Ratings Report.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
