Q4 2024 EPS Estimates for Bank of America Co. Increased by Seaport Res Ptn (NYSE:BAC)

Bank of America Co. (NYSE:BAC) – Investment analysts at Seaport Res Ptn increased their Q4 2024 earnings per share (EPS) estimates for shares of Bank of America in a research report issued to clients and investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will earn $0.89 per share for the quarter, up from their prior estimate of $0.85. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bank of America’s current full-year earnings is $3.22 per share. Seaport Res Ptn also issued estimates for Bank of America’s Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $0.95 EPS, Q4 2025 earnings at $1.02 EPS and FY2025 earnings at $3.85 EPS.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS.

Several other research firms have also recently weighed in on BAC. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, April 19th. BMO Capital Markets raised their target price on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Jefferies Financial Group raised their target price on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.79.

Bank of America Price Performance

NYSE BAC opened at $40.93 on Wednesday. The business’s fifty day moving average price is $38.95 and its 200-day moving average price is $36.17. The stock has a market capitalization of $320.09 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.52 and a beta of 1.35. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America has a 1-year low of $24.96 and a 1-year high of $40.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Delos Wealth Advisors LLC lifted its holdings in shares of Bank of America by 402.2% in the 1st quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 547 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Bank of America in the fourth quarter worth about $28,000. Northwest Investment Counselors LLC bought a new stake in Bank of America in the first quarter worth about $33,000. Clearstead Trust LLC lifted its stake in Bank of America by 1,489.3% in the first quarter. Clearstead Trust LLC now owns 890 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 834 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in Bank of America in the third quarter worth about $25,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s payout ratio is 33.22%.

About Bank of America

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. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.