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Has Bank of America (BAC) Outpaced Other Finance Stocks This Year?


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 849 different companies and currently sits at #5 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 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).

Within the past quarter, the Zacks Consensus Estimate for BAC’s full-year earnings has moved 0.18% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

Based on the latest available data, BAC has gained about 17.45% so far this year. At the same time, Finance stocks have gained an average of 10.12%. This means that Bank of America is performing better than its sector in terms of year-to-date returns.

Looking more specifically, BAC belongs to the Banks – Major Regional industry, a group that includes 16 individual stocks and currently sits at #48 in the Zacks Industry Rank. This group has gained an average of 12.83% so far this year, so BAC is performing better in this area.

BAC will likely be looking to continue its solid performance, so investors interested in Finance stocks should continue to pay close attention to the company.

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