Press coverage about Bank of America (NYSE:BAC) has trended somewhat positive this week, Accern reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Bank of America earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 46.0102329184629 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- Bank of America profit slumps on $2.9B tax charge (foxbusiness.com)
- Revenue, Profits Rise at BofA’s Wealth Management Units (finance.yahoo.com)
- Bank of America takes tax hit, vows longer-term boost (finance.yahoo.com)
- Bank of America posts sturdy earnings, jockeys for position in ‘stronger America’ (marketwatch.com)
- Sandler O'Neill's Harte Says BofA and Goldman Earnings Are 'Noisy' (finance.yahoo.com)
Bank of America (NYSE BAC) traded down $0.06 on Wednesday, hitting $31.18. The stock had a trading volume of 124,360,115 shares, compared to its average volume of 71,620,000. The firm has a market cap of $325,230.00, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.70 and a beta of 1.32. Bank of America has a 12 month low of $22.01 and a 12 month high of $31.79. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, November 30th. Bank of America’s dividend payout ratio (DPR) is currently 27.91%.
Bank of America announced that its board has initiated a stock repurchase program on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
BAC has been the topic of a number of analyst reports. Vetr upgraded Bank of America from a “hold” rating to a “buy” rating and set a $26.59 price objective on the stock in a research note on Monday, October 16th. Deutsche Bank reiterated a “hold” rating and set a $25.00 price objective (up previously from $23.00) on shares of Bank of America in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $29.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Wells Fargo & Co set a $35.00 price target on Bank of America and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, BidaskClub upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Bank of America currently has a consensus rating of “Buy” and an average price target of $29.14.
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Bank of America Company Profile
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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