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Bank of America Corp (BAC) Delivers Earnings Beat in Q3

Bank of America (NYSE:BAC)

Bank of America Corp right before the market opened on Wednesday, October 14, showed off its earnings numbers for the three months through September. Earnings for the quarter came in at $0.37 per share. The firm showed sales totaling $20.91B for the three months.

Bank-of-America

In the run up to the release of today’s results, analysts following the firm were looking for earnings per share of $0.33 per share from Bank of America Corp for the quarter. Sales for the period were forecast to come in at $20.77B by consensus.

Bank of America Corp results by comparison

The same three months of 2014 saw Bank of America Corp earn $0.04 per share on sales that came to $21.43B. In the last twelve months shares in the firm have lost 4.60% of their value. In the three months leading into the release of these results the firm lost 8.08% of their value.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products.

Analysts look at Bank of America Corp

Bank of America Corp is expected to make a profit of $1.41 per share for the twelve months of its current fiscal year. Full sales for the year are forecast to come in at $85.42B.

In the last full fiscal year, Bank of America Corp made $0.43 per share. Sales came in at $85.12B.

Of the 30 analysts covering the firm for Wall Street, 13 analysts said that clients should Buy shares in the firm, 12 analysts rated the shares at Overweight, while 4 analysts said that holding the shares was the best option going forward.

None of the analyst said that clients should keep the shares Underweight in their portfolios, while 1 analyst said that their best idea was to Sell the shares ahead of the release of this earnings report.

 

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.