Trade-Ideas: Bank Of America Corporation (BAC) Is Today's Pre-Market Leader Stock

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 $1.1 billion.
  • BAC traded 41,667 shares today in the pre-market hours as of 7:37 AM.
  • BAC is up 2.8% today from yesterday's close.

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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 1.5%. 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 5 rate it a hold.

The average volume for Bank of America Corporation has been 88.1 million shares per day over the past 30 days. Bank of America has a market cap of $137.0 billion and is part of the financial sector and banking industry. The stock has a beta of 1.20 and a short float of 0.7% with 0.94 days to cover. Shares are down 20.9% year-to-date as of the close of trading on Thursday.

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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 good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • Net operating cash flow has significantly increased by 331.09% to $10,843.00 million when compared to the same quarter last year. In addition, BANK OF AMERICA CORP has also vastly surpassed the industry average cash flow growth rate of -155.48%.
  • BANK OF AMERICA CORP's earnings per share declined by 16.0% 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 increased its bottom line by earning $1.29 versus $0.35 in the prior year. This year, the market expects an improvement in earnings ($1.31 versus $1.29).
  • BAC, with its decline in revenue, slightly underperformed the industry average of 1.3%. Since the same quarter one year prior, revenues slightly dropped by 5.9%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • 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, BAC's net profit margin of 12.16% is significantly lower than the industry average.
  • 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. When compared to other companies in the Commercial Banks industry and the overall market, BANK OF AMERICA CORP's return on equity is below that of both the industry average and the S&P 500.

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