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Is Bank of America (BAC) Stock Outpacing Its Finance Peers This Year?

Zacks Equity Research
·2-min read

Investors focused on the Finance space have likely heard of Bank of America (BAC), but is the stock performing well in comparison to the rest of its sector peers? 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 887 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. BAC is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BAC's full-year earnings has moved 17.01% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, BAC has returned 4.09% so far this year. At the same time, Finance stocks have gained an average of 2.81%. As we can see, Bank of America is performing better than its sector in the calendar year.

To break things down more, BAC belongs to the Banks - Major Regional industry, a group that includes 15 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 4.28% this year, meaning that BAC is slightly underperforming its industry 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.


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