Bank of America (BAC) Stock Moves -1.57%: What You Should Know

Bank of America (BAC) closed the latest trading day at $35.02, indicating a -1.57% change from the previous session's end. The stock's change was equal to S&P 500. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 2.15%.The the stock of nation's second-largest bank has fallen by 10.67% in the past month, lagging the Finance sector's loss of 10.12% and overreaching the S&P 500's loss of 12.16%.Analysts and investors alike will be keeping a close eye on the performance of Bank of America in its upcoming earnings disclosure. The company's earnings report is set to go public on April 15, 2025. The company's upcoming EPS is projected at $0.81, signifying a 2.41% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $26.74 billion, indicating a 3.58% increase compared to the same quarter of the previous year.For the full year, the Zacks Consensus Estimates are projecting earnings of $3.65 per share and revenue of $108.06 billion, which would represent changes of +11.28% and +6.06%, respectively, from the prior year.Investors should also take note of any recent adjustments to analyst estimates for Bank of America. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.03% lower. Currently, Bank of America is carrying a Zacks Rank of #3 (Hold).From a valuation perspective, Bank of America is currently exchanging hands at a Forward P/E ratio of 9.75. This signifies a discount in comparison to the average Forward P/E of 11.98 for its industry.We can additionally observe that BAC currently boasts a PEG ratio of 0.97. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Bank was holding an average PEG ratio of 0.97 at yesterday's closing price.The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 30% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want 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