As per Bank of America Corporation (NYSE:BAC)’s news release on 2016-04-29, its shareholders will get cash dividend of $0.05 per share. The recent press release updated on the record date and payout date, which stands at 2016-06-03 and 2016-06-24, respectively.
The stock of Bank of America Corporation (NYSE:BAC) will commence trading ex-dividend from 2016-06-01, until which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Bank of America Corporation (NYSE:BAC) disbursed $0.2 in dividend compared to distribution of $0.12, a year ago. It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 66.6667%.
The past track record of five years substantiates that the average payout of Bank of America Corporation (NYSE:BAC) stands at $0.088, implying 37.973% growth. The company recorded earnings of $0.45 a share in the preceding fiscal.
The interim price target for Bank of America Corporation (NYSE:BAC) is set at $17.764. This level is the mean price reached by averaging the stock views of 17 analysts. All these are top brokerages of Wall Street and trail the company’s performance regularly. The best price estimate is seen at $20 and the lowest level is established at 15. This broad range highlights a standard deviation of $1.786 in reported estimates.
AlphaOne has allotted A sentiment score of 0.568 to Bank of America Corporation (NYSE:BAC) while impact score assigned is 85 as on as on 2016-06-19.
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