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

Bank of America (BAC) closed at $45.47 in the latest trading session, marking a -0.44% move from the prior day. This change lagged the S&P 500's 0.38% gain on the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw an increase of 1.24%.Prior to today's trading, shares of the nation's second-largest bank had lost 2.31% over the past month. This has lagged the Finance sector's gain of 0.1% and the S&P 500's gain of 1.17% in that time.Market participants will be closely following the financial results of Bank of America in its upcoming release. The company is expected to report EPS of $0.79, up 12.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $25.25 billion, indicating a 15.01% upward movement from the same quarter last year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.27 per share and a revenue of $101.83 billion, representing changes of -4.39% and +3.3%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for Bank of America. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% higher. Bank of America is holding a Zacks Rank of #2 (Buy) right now.Looking at its valuation, Bank of America is holding a Forward P/E ratio of 13.97. Its industry sports an average Forward P/E of 17.21, so one might conclude that Bank of America is trading at a discount comparatively.We can additionally observe that BAC currently boasts a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Financial - Investment Bank industry was having an average PEG ratio of 1.46.The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% 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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks