Bank of America is a dividend stock. Existing investors are eagerly awaiting the company's upcoming third-quarter earnings call. With information on the EPS, quarterly revenue, and more, here's when you can expect Bank of America's earnings.
When is Bank of America's earnings date?
Bank of America's earnings date for the third quarter is scheduled for Oct. 14. The earnings report will take place in the pre-market hours starting at 8:30 a.m ET.
We'll have to wait until then to hear precise financial data, but that doesn't mean experts can't speculate. The expected revenue is around $20.88 billion with the predicted EPS at $0.49.
The company's second-quarter earnings call gave investors a bit of a pleasant surprise. The EPS was 30.18 percent higher than expected, while the revenue was 3.4 percent higher than expected. In a year like 2020 — a time riddled with fiscal insecurity such as high unemployment rates — these numbers shouldn't be ignored.
Bank of America's pre-market stock
Before the market open on Monday, Oct. 12, pre-market sales left Bank of America stock slightly lower than the close on Oct. 9. There was a 0.24 percent decrease during that time. However, Oct. 12 has brought some fire to the stock's performance, which has been reasonably iffy lately.
What is Bank of America's stock price today?
Bank of America, which goes by the ticker symbol "BAC" on the NYSE, opened on Oct. 12 at $25.29. This is mid-range for the company's recent market performance. The stock ranged from $17.95 to 35.72 over the last 52 weeks.
By mid-morning, Bank of America rose 0.60 percent, which came after the stock's aforementioned pre-market dip.
On Oct. 12, the upward trajectory is likely due to Bank of America's announcement that it will be lending short-term, small-dollar loans to certain clients. These loans will only be available to existing Bank of America customers who have held a checking account with the institution for a year or more.
Bank of America is a dividend stock
Bank of America has paid out dividends to its shareholders for the past 27 years including 2020.
As of Oct. 12, Bank of America's dividend yield is 2.83 percent, which equates to about $0.72 per share each year with a PE ratio of 12.21 percent.
Last week, the company also declared preferred stock dividends, according to Bank of America's investor relations. The preferred stock dividends will likely increase the stock's value through the end of the year. The company will dole out payments incrementally for each series of preferred stock. The first to come is for Series E investors on Oct. 30.
Bank of America's stock forecast
With Bank of America's timely news of small loans and its upcoming third-quarter earnings call, now may be the best time to dive into a Bank of America investment before the fourth-quarter activity. With the company's per-share price currently sitting in the middle of the last year's range, there could be an increase in the coming quarter.
Visit Bank of America's website for access to the earnings webcast on Oct. 14.