Bank of America Declares Fourth-Quarter 2022 Stock Dividends
The ever popular one-page Snapshot reports are generated for virtually every single Zacks Ranked stock. It’s packed with all of the company’s key stats and salient decision making information. Including the Zacks Rank, Zacks Industry Rank, Style Scores, the Price, Consensus & Surprise chart, graphical estimate analysis and how a stocks stacks up to its peers. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term.
When evaluating a stock, it can be useful to compare it to its industry as a point of reference. The Value Scorecard identifies the stocks most likely to outperform based on its valuation metrics. This list of both classic and unconventional DotBig valuation items helps separate which stocks are overvalued, rightly lowly valued, and temporarily undervalued which are poised to move higher. As an investor, you want to buy stocks with the highest probability of success.
Bank of America Corporation (BAC)
As of October 2017, the company owns 700 million shares of DotBig, valued at over $18 billion. Bank of America has a rich history dating back to 1800 and even earlier.
Bank of America has a short interest ratio ("days to cover") of 1.9, which is generally considered an acceptable ratio of short interest to trading volume. The company’s average rating score is 2.75, and is based on 9 buy ratings, 3 hold ratings, and no sell ratings. Introducing the “One Ticker Retirement Plan”… It’s a way to trade just one ticker… And potentially make all the money you need – no matter https://dotbig.com/ what happens in the stock market. Larry reveals everything in this interview – including the name of the ticker you need to get started. This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.48 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 3.36%.
The IRS also raised the 2023 annual contribution limits on individual retirement arrangements, or IRAs, to $6,500, up from $6,000 this year. The yen’s weakness, and the Japanese central bank’s actions to counter it, appear to have washed up on the shores of the U.S. market.
Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM segment provides client experience through a network of financial advisors focused on clients with over $250,000 in… At the center of everything we do is a strong BAC stock forecast commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.51% per year.
At the same time, however, our asset quality remains strong as net charge-offs and several other metrics, in fact, improved from the second quarter 2022. From a return perspective, we produced a 15% ROTCE and a 90 basis point ROA. Bank of America topped consensus estimates on higher net interest income and strong consumer demand. https://dotbig.com/ is rallying on Monday after an earnings beat.
- This includes successfully navigating the 2000 and 2008 bubbles, so I completely understand the full cycle the market can take.
- A ratio under 40% is generally considered to be good.But note; this ratio can vary widely from industry to industry.
- Furthermore, the bank is currently trading at a very attractive valuation.
- Seeing how a company makes use of its equity, and the return generated on it, is an important measure to look at.
- So even while investing in marketing and people and technology and physical plan, the team continues to drive operational excellence.
- A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.
The banks, which include Morgan Stanley, Bank of America, and Barclays Plc, declined to comment. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions. The service provides top income buys, timely macro insights, investing best practices, and a lively chat room filled with like-minded investors! The recent regulatory reforms should help the banks greatly in the coming years. Nevertheless, the primary catalyst for the stock is the dividend growth story.
Preferred Stock Issues Outstanding as of July 18, 2022
Things turned sour, however, in 1998 with a major bond default that led to yet another merger, this time with Charlotte, NC-based Nations Bank to officially become the Bank of America that exists today. At the DotBig time, the merger was the largest bank merger in history and the company has only grown in the time since. Based on earnings estimates, Bank of America will have a dividend payout ratio of 23.47% next year.
Rising interest rates
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence . The stock had a Golden Star Signal on Thursday, September 15, 2022 in the short-term chart. Growth traders and investors will tend to look for growth rates of 20% or higher. That does not mean that all companies with Bank of America stock large growth rates will have a favorable Growth Score. But, typically, an aggressive growth trader will be interested in the higher growth rates. Enterprise Value is Market Capitalization + Debt – Cash. Many investors prefer EV to just Market Cap as a better way to determine the value of a company.
68.48% of the stock of Bank of America is held by institutions. High institutional ownership can be a signal of strong market trust in this company. In the past three months, Bank of America insiders https://dotbig.com/markets/stocks/BAC/ have not sold or bought any company stock. According to analysts’ consensus price target of $44.47, Bank of America has a forecasted upside of 27.2% from its current price of $34.95.
On average, they expect the company’s share price to reach $44.47 in the next year. https://dotbig.com/markets/stocks/BAC/ This suggests a possible upside of 27.2% from the stock’s current price.
The industry with the worst average Zacks Rank would place in the bottom 1%. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. As the U.S. job market cools, employers are gaining bargaining power and starting to require remote workers to return to the office. A high-interest account allows you to earn compound interest, while still having full access to your money at any time. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. I/we have a beneficial long position in the shares of BAC either through stock ownership, options, or other derivatives.