Posted 3/11/2024, 9:45:21 PM
Bank of America Stock Outperforms as Earnings Dip Expected
- Bank of America (BAC) stock rose 0.81% while broader markets fell the previous day
- BAC shares have increased 7.65% over the past month, outpacing finance sector and S&P 500
- BAC is forecasted to report lower EPS of $0.77 and revenue of $25.22 billion in next earnings
- For the full year, estimates forecast BAC earnings per share to decrease 8.19% but revenue to increase 1.14%
- BAC currently has a Zacks Rank of #3 (Hold) and a Forward P/E ratio of 11.35, indicating a premium to industry average of 11.17