Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Names Paul Lambert Market President for Chicago

[Business Wire] – Bank of America today announced that Paul Lambert has been named market president, serving as the company’s enterprise leader in Chicago. Lambert will succeed Tim Maloney who led the market since 2009 and intends to retire in early 2016. Read more on this. Bank of America Corporation (BAC) , with a current market cap of $182.79B, began trading this morning at $17.80. Looking at today’s market, BAC one day range is $16.96 to $17.80 and has traded between $14.60 and $18.48 over the past 12 months. Bank of America (BAC) shares are currently priced at 12.41x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.20x earnings multiple for the same period. And for income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 1.19%. In a review of the consensus earnings estimate this quarter, 28 sell-side analysts are looking at $0.34 per share, which would be $0.09 better than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $1.43 which would be a $1.07 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.83 Billion. If reported, that would be a 9.86% increase over the year-ago quarter. In terms of ratings, Macquarie upgraded BAC from Underperform to Neutral (Aug 25, 2015). Previously, Robert W. Baird upgraded BAC from Neutral to Outperform. With the above information in mind, readers should note that the average price target is $18.80, which is 5.62% above where the stock opened this morning. See more in (NYSE:BAC) Similar Articles: Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Merrill Lynch’s Director of Financial Gerontology Cyndi Hutchins Named Influencer in Aging by PBS’s Next Avenue Company Update: Bank of America Corporation (NYSE:BAC) – Bank of America Announces 2015 Art Conservation Project Grant Recipients Market Update: Bank of America Corporation (NYSE:BAC) – 2012 Chicago Champion and Current Half Marathon World Record-holder Headline 2015 Bank of America Chicago Marathon Elite Field