Bank of America (BAC) Flat As Market Gains: What You Should Know

In the latest market close, Bank of America (BAC) reached $43.94, with no movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.26%.Heading into today, shares of the nation's second-largest bank had lost 6.19% over the past month, lagging the Finance sector's loss of 0.09% and the S&P 500's loss of 2.26% in that time.Analysts and investors alike will be keeping a close eye on the performance of Bank of America in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.81, indicating a 2.41% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $26.71 billion, showing a 3.47% escalation compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.70 per share and a revenue of $108.36 billion, indicating changes of +12.8% and +6.36%, respectively, from the former year.Investors might also notice recent changes to analyst estimates for Bank of America. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.34% rise in the Zacks Consensus EPS estimate. Bank of America is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Bank of America's current valuation metrics, including its Forward P/E ratio of 11.88. This expresses a discount compared to the average Forward P/E of 13.86 of its industry.Investors should also note that BAC has a PEG ratio of 1.19 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BAC's industry had an average PEG ratio of 1.15 as of yesterday's close.The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 3, placing it within the top 2% of over 250 industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of America Corporation (BAC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks