Bank of America Corp (BAC) Releases Earnings Results, Reports EPS of $0.21 EPS

Bank of America Corp (BAC) reported quarterly earnings results on Thursday, Apr-14-2016. The company reported $0.21 EPS for the quarter. Analysts had a consensus estimate of $0.21. The company posted revenue of $19700.00 million in the period, compared to analysts expectations of $20317.78 million. The company’s revenue was down -8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Bank of America Corp. Bank of America Corp was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 2016. Bank of America Corp was Upgraded by Credit Agricole to ” Outperform” on Jan 29, 2016. Bank of America Corp was Upgraded by Sandler O’Neill to ” Buy” on Jan 20, 2016.

Bank of America Corp opened for trading at $12.92 and hit $13.09 on the upside on Monday, eventually ending the session at $12.97, with a gain of 0.70% or 0.09 points. The heightened volatility saw the trading volume jump to 7,94,11,476 shares. Company has a market cap of $133,923 M.

In a different news, on Feb 22, 2016, Thong M Nguyen (Pres, Ret. Bnkg & Co-Hd CB) purchased 30,000 shares at $12.43 per share price.

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. It operates in five segments: Consumer & Business Banking which offers a range of credit banking and investment products and services to consumers and businesses; Consumer Real Estate Services which provides a line of consumer real estate products and services; Global Wealth & Investment Management which provides wealth management solutions; Global Banking which provides a range of lending-related products and services and Global Markets which offers sales and trading services.

Bank of America Corp

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