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Bank of America (BAC) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Bank of America (BAC) closed at $44.20, marking a -1.82% move from the previous day. This change lagged the S&P 500’s daily loss of 0.24%

Coming into today, shares of the nation’s second-largest bank had lost 1.85% in the past month. In that same time, the Finance sector gained 0.89%, while the S&P 500 gained 0.73%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.28 per share and revenue of $93.81 billion. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Within the past 30 days, our consensus EPS projection has moved 1.24% higher. Bank of America is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Bank of America is holding a Forward P/E ratio of 13.71.

The Banks – Major Regional industry currently had an average PEG ratio of 1.7 as of yesterday’s close.

The Banks – Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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