Bank of America Corporation BAC was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $22.73 to $26.55 in the past one-month time frame.
The move came after the company reported solid fourth-quarter 2018 results.
The company has seen seven negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Bank of America currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative
Bank of America Corporation Price
Bank of America Corporation Price | Bank of America Corporation Quote
A better-ranked stock in the Finance sector may consider Aflac Incorporated AFL, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is BAC going up? Or down? Predict to see what others think: Up or Down
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Aflac Incorporated (AFL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research