Market Update: Bank of America Corporation (NYSE:BAC) – BofA profit up as costs drop, revenue rises in most businesses

[Reuters] – Bank of America Corp, the No. 2 U.S. bank by assets, reported a better-than-expected rise in profit for the final quarter of 2015, helped by a drop in expenses and revenue growth in three of its four big … Read more on this. Bank of America Corporation (BAC) , with a current value of $149.11B, opened this morning at $14.70. Today’s price range has been between $14.30 and $14.79 per share and has traded between $14.13 and $18.48 over the past year. BAC shares are currently priced at 10.71x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.53x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $0.20 per share annually in dividends, yielding 1.33%. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $0.26 per share, which would be $0.01 better than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.35 would be a $0.99 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $19.78 Billion. If realized, that would be a 4.32% increase over the year-ago quarter. More recently, Wells Fargo upgraded BAC from Market Perform to Outperform (Sep 10, 2015). Previously, Nomura upgraded BAC from Neutral to Buy. The average price target for BAC shares is $18.88, which is 28.44% above where the stock opened this morning. See more in (NYSE:BAC) Similar Articles: Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Names Paul Lambert Market President for Chicago Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Merrill Lynch’s Director of Financial Gerontology Cyndi Hutchins Named Influencer in Aging by PBS’s Next Avenue Company Update: Bank of America Corporation (NYSE:BAC) – Bank of America Announces 2015 Art Conservation Project Grant Recipients