Company Update (NYSE:BAC): Bank of America Kicks Off 19th Season of Museums on Us®

[Business Wire] – Bank of America has announced the 2016 Museums on Us program roster, featuring many of the nation’s favorite arts, cultural and historical institutions. Museums on Us provides a cultural benefit to Bank of America and Merrill Lynch debit and credit cardholders across the U.S. Read more on this. Bank of America Corporation (BAC) , with a current market cap of $138.63B, opened at $13.20. A quick look at the market, the company’s stock traded between $13.13 and $13.51 with a trailing 52-week range being $10.99 to $18.48. BAC shares are currently priced at 9.10x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.27x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.20 per share annually in dividends, yielding 1.57%. Consensus earnings for the current quarter by the 29 sell-side analysts covering the stock is an estimate of $0.28 per share, which would be $0.01 better than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $1.45 which would be a $0.07 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.22 Billion. If reported, that would be a 0.93% decrease over the year-ago quarter. In terms of ratings, Atlantic Equities downgraded BAC from Overweight to Neutral (Mar 1, 2016). Previously, Credit Agricole upgraded BAC from Sell to Outperform. The average price target for BAC shares is $17.54, which is 32.88% above where the stock opened this morning. See more in (NYSE:BAC) Similar Articles: Company Update: Bank of America Corporation (NYSE:BAC) – ACCIONA and Bank of America Merrill Lynch Complete Financing for San Roman Wind Farm in Texas 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
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