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Bank of America Corp Posts Lower Q4 Results; Misses Estimates (BAC)
Shauna O'Brien Jan 15, 2015
Before the opening bell on Thursday, Bank of America Corp (BAC ) reported its fourth quarter results, which missed analyst expectations.
BAC’s Earnings in Brief
- BAC reported net income of $3.1 billion, or 25 cents per share, down from $3.4 billion, or 29 cents per share, a year ago.
- Revenue came in at $19.0 billion, compared to $21.7 billion last year.
- On average, analysts expected to see EPS of 32 cents and $20.94 billion in revenue.
CEO Commentary
BAC’s CEO Brian Moynihan commented: “In 2014, we continued to invest in our businesses while reducing expenses and resolving our most significant litigation matters.”
BAC’s Dividend
BofA paid its last 5 cent dividend on December 26. We expect the company to declare its next dividend in February.
See also: Bank Dividends: Little Recovery from Financial Crisis
Stock Performance
The Bottom Line
Bank of America (BAC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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