Is a Surprise Coming for Bank of America (BAC) This Earnings Season? (2024)

FAQs

What is the earnings prediction for BAC? ›

Earnings: 83 cents a share adjusted, vs. 76 cents expected, according to LSEG. Revenue: $25.98 billion, vs. $25.46 billion expected.

Bank of America is forecast to grow earnings and revenue by 6.2% and 4.6% per annum respectively. EPS is expected to grow by 7.7% per annum. Return on equity is forecast to be 9.9% in 3 years.

The highest analyst price target is $45.00 ,the lowest forecast is $33.00. The average price target represents 7.60% Increase from the current price of $36.97. What do analysts say about Bank of America? Bank of America's analyst rating consensus is a Moderate Buy.

Based on short-term price targets offered by 21 analysts, the average price target for Bank of America comes to $38.19. The forecasts range from a low of $31.00 to a high of $45.00. The average price target represents an increase of 6.77% from the last closing price of $35.77.

It is based on the fact that blood alcohol concentration (“BAC”) levels continue to rise even after someone stops drinking. When someone consumes an alcoholic beverage, blood alcohol rises rapidly. It continues to rise until it reaches a peak level anywhere from 30 minutes to two hours later.

Bank of America stock (symbol: BAC) underwent a total of 3 stock splits. The most recent stock split occured on August 30th, 2004. One BAC share bought prior to November 21st, 1986 would equal to 8 BAC shares today.

Is Bank of America stock a Buy, Sell or Hold? Bank of America stock has received a consensus rating of buy. The average rating score is A1 and is based on 49 buy ratings, 23 hold ratings, and 6 sell ratings.

Bank of America (BAC) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.

Bank of America Stock Price Forecast 2024-2025

The forecasted Bank of America price at the end of 2024 is $41.30 - and the year to year change +23%. The rise from today to year-end: +20%. In the middle of 2024, we expect to see $38.11.

The bank was supposed to be one of the biggest beneficiaries of higher interest rates last year, but it has underperformed its peers because the lender had piled into low-yielding, long-dated securities during the Covid-19 pandemic.

Who owns the most BAC stock? ›

Bank of America has the Financial Strength Rank of 4.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is.

Berkshire Hathaway (BRK.A 0.36%)(BRK.B 0.21%): Warren Buffett's Berkshire Hathaway is the largest Bank of America shareholder, with 1.03 billion shares amounting to a 13% stake. As of March 2024, it was the second-largest of Warren Buffett's stock holdings after Apple (AAPL -0.81%), worth almost $37 billion.

The Bank Of America stock price forecast for the next 30 days is a projection based on the positive/negative trends in the past 30 days. Based on the current trend the price of BAC stock is predicted to drop by -0.97% tomorrow and lose -1.11% in the next 7 days.

Historical daily share price chart and data for Bank Of America since 1986 adjusted for splits and dividends. The latest closing stock price for Bank Of America as of April 22, 2024 is 37.73. The all-time high Bank Of America stock closing price was 46.47 on February 08, 2022.

According to the latest long-term forecast, Bank of America price will hit $40 by the middle of 2024 and then $55 by the middle of 2025. Bank of America will rise to $65 within the year of 2027, $75 in 2028, $80 in 2029, $85 in 2030, $90 in 2032, $95 in 2033 and $100 in 2034.

Share Price vs Fair Value

For this estimate we use a Discounted Cash Flow model. Significantly Below Fair Value: BAC is trading below fair value, but not by a significant amount.

Berkshire Hathaway Inc. owns the most shares of Bank of America (BAC).