BAC - Bank of America Corporation

NYSE - NYSE Delayed Price. Currency in USD
30.07
+0.02 (+0.07%)
At close: 4:00PM EDT

30.07 0.00 (0.00%)
After hours: 4:29PM EDT

Stock chart is not supported by your current browser
Previous Close30.05
Open29.99
Bid30.09 x 2900
Ask30.09 x 41800
Day's Range29.92 - 30.20
52 Week Range22.66 - 31.91
Volume39,822,129
Avg. Volume58,829,051
Market Cap287.721B
Beta (3Y Monthly)1.54
PE Ratio (TTM)11.18
EPS (TTM)2.69
Earnings DateJul 17, 2019
Forward Dividend & Yield0.60 (2.17%)
Ex-Dividend Date2019-02-28
1y Target Est33.33
Trade prices are not sourced from all markets
  • Sectornomics: Here's how to find momentum in financials
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  • Buy Morgan Stanley Stock on Valuation, Not External Factors
    InvestorPlaceyesterday

    Buy Morgan Stanley Stock on Valuation, Not External Factors

    Morgan Stanley (NYSE:MS) beat earnings and revenue estimates. This helped to continue the march higher in Morgan Stanley stock that began in the middle of March. * 10 S&P 500 Stocks to Weather the Earnings Storm Source: Shutterstock Over the last year, fear of tariffs and worries about the economy have influenced bank stocks. This seems remarkable, as higher interest rates generally boost profits for banks. However, one factor has emerged that could change that dynamic. With the price-to-earnings (PE) ratio flirting with single-digit levels, MS stock may become a buy regardless of the economy. MS Sees Brighter Outlook After Earnings, Revenue BeatsThe New York-based investment bank reported first-quarter earnings at $1.33 per share. This came in 17 cents ahead of estimates, but well short of the $1.45 per share reported in the same quarter last year. Revenues of $10.29 billion beat consensus estimates of $9.93 billion. However, year-ago revenues came in at $11.08 billion.Without question, earnings have slumped this year. Morgan Stanley stock, along with peers such as Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), and JPMorgan Chase (NYSE:JPM), saw their stock prices drop through most of 2018. They also stagnated between mid-January and the middle of March, as tariff-related concerns continued to weigh on these stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMoreover, fears of a recession led to a more dovish tone from the Fed. Higher interest rates tend to boost earnings potential for bank stocks. However, Morgan Stanley stock and other bank stocks have seemingly traded on prospects for the economy in recent months.Optimism about the economy rebounded as the Fed's more dovish tone and the optimism about a U.S.-China trade agreement helped to boost bank stocks. Indeed, the outlook now appears brighter. Analysts forecast earnings growth of 10.9% next year. Wall Street also forecasts average earnings increases of 10.82% per year for the next five years. Morgan Stanley Stock Becoming a Valuation PlayStill, investors may have a bigger reason to buy than profit projections. Traders should also recognize that valuation could again become a key driver for Morgan Stanley stock. Due to falling multiples, MS may have also become a buy regardless of the economy. Investors who purchase now will pay only about 10.2 times earnings, much lower than its 14.5 average PE in recent years.Multiples on Morgan Stanley stock have rarely fallen into the single digits historically. Moreover, when this low valuation comes with double-digit earnings growth, it becomes hard to see MS as anything but a buy. Unless earnings drop significantly, I see little else to change a bullish investment thesis on Morgan Stanley stock.Moreover, even if a recovery in MS stock takes time, investors can still benefit. Thanks to the economic recovery, bank stocks have again begun to increase dividends annually. The annual dividend increases in Morgan Stanley stock resumed in 2014. Today, MS pays $1.20 per share in yearly dividends, a 2.5% yield. Over the last few years, these payout hikes have come when the company reports its second-quarter earnings. Hence, the yield will likely move higher in July. Final Thoughts on Morgan Stanley StockFollowing earnings, investors should consider buying Morgan Stanley stock regardless of the recent influence of economic forces. MS beat reduced earnings and revenue estimates. However, this has held little sway over the equity as it has fallen over the last year. During that time, investors sold off bank stocks in general, as economic worries became more significant. * 6 Cheap Stocks That Cost Less Than $10 This worry has taken Morgan Stanley stock to a PE ratio of just over 10. The stock fell to that valuation despite projections of double-digit earnings growth and an increased payout. With the low PE ratio and the potential earnings growth, MS's downside appears limited. Add in the rising dividend, and it becomes hard to call MS stock anything but a buy.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post Buy Morgan Stanley Stock on Valuation, Not External Factors appeared first on InvestorPlace.

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  • Here’s What This Top Analyst Is Saying About Bank of America’s (BAC) Earnings Report
    SmarterAnalyst5 days ago

    Here’s What This Top Analyst Is Saying About Bank of America’s (BAC) Earnings Report

    Bank of America (NYSE:BAC) released first-quarter earnings earlier this week, and the numbers are mostly positive. The bank beat EPS expectations ($0.70 vs. $0.66 consensus) and matched revenue expectations ($23 billion). Furthermore, its net yield grew by 9 basis points since this time last year, to 2.51%, while its efficiency ratio and ratio on assets both also grew. However, trading revenue remains a weak spot, especially compared with the first quarter of 2018. Equity trading revenue tumbled 22% from a year ago and fixed-income revenue dropped by 8%.In conjunction with the earnings announcement, long-time bull Chris Kotowski of Oppenheimer reiterated his enthusiasm for the banking giant with an Outperform rating and $42 price target.As always, we like to give credit where credit is due. According to TipRanks, which measures analysts’ success rate based on how their calls perform, Kotowski has a yearly average return of 12.7% and a 71% success rate. Kotowski has an average return of 24.4% when recommending BAC and is ranked 94 out of 5,191 analysts.While Kotowski says it was a “weak trading quarter where capital markets' revenues were down 13.0% Y/Y,”, BAC’s 1Q EPS of $0.70 (13% growth since last year) failed to impress the market, “as the company gave somewhat muted guidance on net interest income growth.” The analyst says BAC “guided to ~3% growth in full year net interest income versus our prior model of 4.6%.” Nevertheless, Kotowski says “the offset was that expenses are also tracking lower than we expected and our forward estimates are essentially unchanged...”Kotowski added, “analysts seemed frustrated that the dynamic way that BAC is managing for profitability does not match the linearity of their models. They seem to want loans and revenues and expenses to all go up and to the right more or less in lock step.” But he counters these analysts, saying, “the reality is of course more complicated. Investors should never lose sight of the fact that there is more than one way to skin a cat. If you are earning a mid-teens ROTCE and your stock is trading at a single-digit P/E, it doesn't matter so much for intermediate-term EPS whether you are investing in loans or your own stock,” and continues to endorse the stock. All in all, while there was concern with the the yield curve inversion last month, this earnings report provides a sense of relief. TipRanks analysis of 10 analyst ratings shows a consensus Moderate Buy rating, with six analysts Buying and four Holding. The average price target among these analysts stands tall at $34.50, which reflects a 15% rise from current levels. (See BAC's price targets and analyst ratings on TipRanks) More recent articles from Smarter Analyst: * Cowen Counts the Points in Aurora Cannabis (ACB) Stock Favor * With Two Days to Go Before Amazon (AMZN) Earnings, this Top Analyst Weighs in on the Stock * Should You Count on Facebook (FB) Earnings to Push the Stock Higher? Top Analyst Weighs In * Tesla (TSLA) Stock Logs Another Sell Rating; Here's Why

  • Bank of America Stock Is One Catalyst Away From Moving Higher
    InvestorPlace5 days ago

    Bank of America Stock Is One Catalyst Away From Moving Higher

    Bank of America (NYSE:BAC) dropped and then recovered in Tuesday trading following its earnings announcement. The Charlotte-based banking giant beat earnings estimates, but missed on revenue. This, along with a warning about slowing net interest income, hit BAC stock before it recovered later in the day. * 5 Dividend Stocks Perfect for Retirees Source: Shutterstock However, the quick move to pre-report levels may show underlying confidence in BAC. With a low multiple and double-digit profit growth set to continue, Bank of America stock looks poised for a breakout. BAC Stock Beat on Earnings, Fell Short on RevenueFor the first quarter, BAC reported its 16th consecutive beat on earnings. In Q1, the company earned 70 cents per share, or $7.3 billion. This beat estimates by 5 cents per share and came in ahead of the year-ago level of 62 cents per share. Consumer banking led the way as net income from that division rose 25% to $3 billion. Net income in its Global Wealth and Investment Management division also rose by 14%.However, other divisions saw slower profit growth or, in the case of Global Banking, an outright decline. Also, revenues of $23 billion fell short of the first quarter revenue level of $23.07 billion last year. Analysts had expected $23.3 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe disappointment did not end there. The company also acknowledged that net interest income would rise by only 3% this year. Net interest income increased by 6% in 2018. This news sent BAC stock falling by as much as 2.8% in morning trading. BAC Stock Recovered QuicklyHowever, the fact that the stock ended the day 0.13% higher shows underlying confidence in BAC. Since mid-January, the stock has mostly traded between $28 and $30 per share. The exception occurred in mid-March. BAC stock fell to as low as $26.67 per share when the Fed announced an intention to delay further rate increases for the year. Still, it recovered quickly to the previous range.Traders appear justified in keeping BAC stock at these levels. When looking at the overall picture, little reason exists to sell Bank of America stock. The current price-to-earnings (PE) ratio stands at around 11.5. At this price level, the PE falls to 9.3 on a forward basis. For this valuation, investors buy a company expected to increase profits by 9.5% this year and 10.8% in fiscal 2020.The improvements extend beyond BAC. JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) confirmed the strength of this sector in their recent earnings reports. Wells Fargo (NYSE:WFC) did not perform as well, but it continues to struggle with reputation issues. Goldman Sachs (NYSE:GS), which also offered mixed news in its report, depends more on investment banking. When Will BAC Stock Finally Rise?With BAC stock, the near-term questions involve when a breakout will occur and what will cause it? Since quarterly earnings did not offer a catalyst, predicting when becomes more difficult.If nothing else, rising profits and falling earnings multiples will eventually take BAC stock higher. Moreover, BAC will pay its investors to wait with dividends. BAC has increased its payout for five straight years now. This year's dividend of 60 cents per share yields about 2%. Hence, investors will receive a payout slightly above the current S&P 500 average of 1.85%. Also, if history serves as an indication, investors can expect the dividend to increase over time. Final Thoughts on BAC StockConditions remain in place for BAC stock to move higher. The question hinges on when? As predicted, earnings increased and beat estimates again. Also, despite disappointments in revenue and net interest income, the stock recovered quickly. Still, this leaves BAC stock rangebound and traders with no indication as to when it will break out. * 10 Best Stocks to Buy and Hold Forever Investors can buy now and earn a yield of about 2% on the dividend. Also, even if little else occurs, improving profits will force Bank of America stock to move higher at some point. However, until a catalyst appears, expect payouts and little else from BAC stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post Bank of America Stock Is One Catalyst Away From Moving Higher appeared first on InvestorPlace.

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  • CNBC6 days ago

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