Stock Update: Bank of America Corporation (NYSE:BAC) – MOVES-(OFFICIAL)-BofA Merrill Lynch hires Morgan Stanley advisers

[Reuters] – Merrill Lynch Global Wealth Management, the wealth management arm of Bank of America Corp , hired seven advisers from Morgan Stanley, according to a statement released on Monday. John Gatto, Kenneth Gatto … Read more on this. Bank of America Corporation (BAC) , currently valued at $146.32B, opened at $13.85. Looking at the equity, the company’s one day range is $13.82 to $14.24 with a trailing 52-week range being $10.99 to $18.48. BAC shares are currently priced at 10.53x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.56x earnings multiple. And for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 1.43%. Consensus earnings for the current quarter by the 29 sell-side analysts covering the stock is an estimate of $0.37 per share, which would be $0.08 worse than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $1.33 which would be a $0.05 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.91 Billion. If reported, that would be a 6.40% decrease over the year-ago quarter. In terms of ratings, Atlantic Equities downgraded BAC from Overweight to Neutral (Mar 1, 2016). Previously, Credit Agricole upgraded BAC from Sell to Outperform. The average price target for BAC shares by the analysts covering it is $17.29, which is 24.84% above where the stock opened. See more in (NYSE:BAC) Similar Articles: Market Update: Bank of America Corporation (NYSE:BAC) – Bianchi leaves BofA Merrill Lynch’s Brazil unit -sources Company Update: Bank of America Corporation (NYSE:BAC) – ACCIONA and Bank of America Merrill Lynch Complete Financing for San Roman Wind Farm in Texas Stock Update (NYSE:BAC): MOVES-BofA Merrill Lynch appoints EMEA ECM co-heads -memo