The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bank of America (BAC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Bank of America is a member of our Finance group, which includes 839 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BAC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BAC's full-year earnings has moved 2.33% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BAC has moved about 42.21% on a year-to-date basis. In comparison, Finance companies have returned an average of 20.19%. As we can see, Bank of America is performing better than its sector in the calendar year.
Looking more specifically, BAC belongs to the Banks - Major Regional industry, a group that includes 15 individual stocks and currently sits at #42 in the Zacks Industry Rank. Stocks in this group have gained about 38.35% so far this year, so BAC is performing better this group in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track BAC. The stock will be looking to continue its solid performance.
Bank of America Corporation (NYSE:BAC): Free Stock Analysis Report
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