EARNINGS PREVIEW: Bank of America

Bank of America Corporation (BAC: $13.25)

Published by The Bull Market Report
April 12, 2016

Please Note: All earnings dates are subject to change. We urge you to confirm dates on a company’s investor relations (IR) website if an exact date is important to your  investment or trading strategy.

BANK of AMERICA CORP

The company’s first quarter 2016 results will be released bright and early on Thursday at 7:00 AM Eastern.  Expectations are low both for the Banking Sector as well as for B of A.

Earnings Date: April 14, 7:00 AM ET
Consensus: 1Q2016
Revenues: $20.3 billion
EPS: $0.21

Year Ago Quarterly Results
Revenues:  $21.4 billion
EPS: $0.27

BMR TAKE:
Bank stocks are a group everybody loves to hate.  This attitude creates value opportunities.  Bank of America is selling below book value and one half the multiple of the S&P 500.  Earnings hit a 10-year high in 2015 but paper-thin interest spreads will penalize first and second quarter results before profits begin to turn up in the second half of this year.  By mid-year troubled times should be behind it.  Earnings will improve from there and dividends should follow.  Bank of America does not have to run like a rabbit because it is being valued like a snail.