Posted 2/21/2024, 10:45:17 PM
Bank of America Stock Underperforms as Earnings Expected to Decline
- Bank of America (BAC) stock closed lower despite market gains, underperforming the S&P 500 over the past month
- BAC earnings per share are expected to decrease 18.09% year-over-year in the upcoming quarterly report
- Analysts estimate BAC's revenue will be down 3.89% compared to the prior-year quarter
- BAC trades at a premium valuation compared to its industry average based on forward P/E and PEG ratios
- The Banks-Major Regional industry ranks in the top 16% out of over 250 industries, according to the Zacks Industry Rank system