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Market Update (NYSE:BAC): Senior female exec at Bank of America sues over ‘bro’s club’

[Reuters] – A senior female fixed-income banker at Bank of America Corp has filed a lawsuit accusing the bank of underpaying her and other women, and retaliating when she complained about illegal or unethical practices by her colleagues. Read more on this. Bank of America Corporation (BAC) , with a current value of $143.91B, started the session at $13.89. During the trading session, BAC traded between $13.82 to $14.13 with a trailing 52-week range being $10.99 to $18.48. BAC shares are currently priced at 10.55x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.67x earnings multiple for the same period. The company pays shareholders $0.20 per share annually in dividends, yielding 1.44%. According to a consensus of 28 analysts, the earnings estimate of $0.37 per share would be $0.08 worse than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.32 would be a $0.06 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.97 Billion. If realized, that would be a 6.13% decrease over the year-ago quarter. In terms of ratings, Keefe Bruyette downgraded BAC from Outperform to Mkt Perform (May 16, 2016). Previously, Atlantic Equities downgraded BAC from Overweight to Neutral. The average price target for BAC shares by the analysts covering it is $17.43, which is 25.49% above where the stock opened. See more in (NYSE:BAC) Similar Articles: Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Announces Preliminary Voting Results of 2016 Annual Meeting of Stockholders Market Update: Bank of America Corporation (NYSE:BAC) – 2016 Bank of America Chicago Marathon Non-Guaranteed Drawing Applicants Receive Notification Today Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Provides NYCEEC with $10 Million Loan for Clean Energy Projects
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