Stock of the week: “Bank of America Corp”
Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other.
According to the latest news, Bank of America has a chance to generate $40 billion in net income before taxes and provisions in 2023, If all the company's plans are realized.
The bank is valued at about 9.4 times forward earnings, which is far too cheap given its low-risk business profile and consistent earnings quality.
In addition, Bank of America's stock has fallen 24% in the past year despite strong business performance, and it is poised to rebound if credit outperforms the assumptions involved in the price.
Financial social media sentiment is “positive” in both absolute and relative terms – on its own and when compared to the sentiment of the sector and the sentiment of the stock index.
Analysts' consensus rating is "buy" - out of the 26 bank analysts covering the company, 17 recommend buying the stock, while 9 recommend holding it. The upside potential of the stock price expected by the analysts on average over the next 6-12 months is currently 33.51 (reference close of business 03/01/2023).
Attention buzz is currently “Low”.
Sources:
https://umushroom.com/en/equity/bank-of-america-rg
https://seekingalpha.com/article/4567419-bank-of-america-stock-easy-buy-going-into-2023
