Stock Update (NYSE:BAC): MOVES-BofA Merrill Lynch appoints EMEA ECM co-heads -memo

[Reuters – UK Focus] – Bank of America Merrill Lynch has named two European co-heads of equity capital markets from its own ranks, according to a memo seen by Reuters on Wednesday. James Fleming, UK head of ECM, and Sam Losada, … Read more on this. Bank of America Corporation (BAC) , with a current market cap of $138.59B, opened at $13.79. A quick look at the market, the company’s stock traded between $13.27 and $14.00 with the price of the stock fluctuating between $13.27 to $18.48 over the last 52 weeks. Priced at 9.19x this year’s forecasted earnings, BAC shares are relatively inexpensive compared to the industry’s 14.53x forward p/e ratio. And for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 1.33%. In a review of the consensus earnings estimate this quarter, 24 sell-side analysts are looking at $0.32 per share, which would be $0.05 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $1.55, which would be a $0.17 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.93 Billion. If reported, that would be a 2.38% 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 $18.89, which is 36.98% 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 Merrill Lynch’s Director of Financial Gerontology Cyndi Hutchins Named Influencer in Aging by PBS’s Next Avenue Market Update (NYSE:BAC): BofA reaches $335 mln settlement over mortgages, MERS Market Update (NYSE:BAC): Bank of America Merrill Lynch Expands CashPro® Invest to Europe