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.