Company Update (NYSE:BAC): Today’s Review on Money Center Banks Equities — Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase

[Accesswire] – NEW YORK, NY / ACCESSWIRE / January 27, 2016 / Park Lane Advisor has initiated coverage on the following equities: Bank of America Corporation (NYSE: BAC), Citigroup Inc. (NYSE: C), Wells Fargo & Company … Read more on this. Bank of America Corporation (BAC) , valued at $137.23B, finished at $13.31. Looking at today’s trading action, the company’s one day range from $13.20 to $13.24 and has traded between $12.94 and $18.48 over the past year. BAC shares are currently priced at 8.81x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 13.90x forward p/e ratio. The company pays shareholders $0.20 per share in dividend income per year, for a current yield of 1.47%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.30 per share, which would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.51 is a $0.13 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $21.84 Billion. If realized, that would be a 1.96% increase over the year-ago quarter. More recently, Sandler O’Neill upgraded BAC from Hold to Buy (Jan 20, 2016). Previously, Wells Fargo upgraded BAC from Market Perform to Outperform. Investors should keep in mind is that the average price target is $18.40, which is 38.24% 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 Stock Update (NYSE:BAC): BlackRock to buy Bank of America’s $87 billion money-market fund business Company Update: Bank of America Corporation (NYSE:BAC) – Bank of America Announces 2015 Art Conservation Project Grant Recipients
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