Positive Press Coverage Extremely Likely to Affect Bank of America (BAC) Share Price

News stories about Bank of America (NYSE:BAC) have been trending positive this week, InfoTrie Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Bank of America earned a media sentiment score of 2.02 on their scale. InfoTrie also assigned news stories about the financial services provider an news buzz score of 10 out of 10, indicating that recent news coverage is extremely likely to have an effect on the stock’s share price in the immediate future.

These are some of the news stories that may have effected Bank of America’s score:

A number of equities research analysts have commented on BAC shares. ValuEngine raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Wolfe Research started coverage on shares of Bank of America in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of Bank of America from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Tuesday, October 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.63.

Shares of NYSE BAC opened at $28.54 on Tuesday. The stock has a market capitalization of $290.92 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.91. Bank of America has a 1 year low of $25.88 and a 1 year high of $33.05.

Bank of America (NYSE:BAC) last issued its earnings results on Monday, October 15th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. The company had revenue of $22.78 billion for the quarter, compared to analyst estimates of $22.63 billion. Bank of America had a net margin of 21.85% and a return on equity of 10.82%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. Analysts expect that Bank of America will post 2.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 32.79%.

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Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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