In the latest market close, Bank of America (BAC) reached $40.70, with a -0.12% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 2.12%. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 3.26%.

Prior to today's trading, shares of the nation's second-largest bank had gained 11.19% over the past month. This has outpaced the Finance sector's gain of 7.46% and the S&P 500's gain of 5.78% in that time.

Investors will be eagerly watching for the performance of Bank of America in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 15, 2024. In that report, analysts expect Bank of America to post earnings of $0.81 per share. This would mark a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.48 billion, up 1.25% from the year-ago period.

BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.28 per share and revenue of $102.16 billion. These results would represent year-over-year changes of -4.09% and +3.63%, respectively.

Any recent changes to analyst estimates for Bank of America should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Bank of America boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Bank of America is currently trading at a Forward P/E ratio of 12.44. Its industry sports an average Forward P/E of 12.44, so one might conclude that Bank of America is trading at no noticeable deviation comparatively.

It is also worth noting that BAC currently has a PEG ratio of 1.46. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.

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

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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